Remittances
Cuban central bank approves new money transfer app
Digital wallet offered by Cuban telecoms firm will only receive and pay out in pesos
New Nicaragua law may isolate local banks
Law could require domestic banks to maintain accounts of people under sanctions
Bank of Mexico moves to counter controversial cash law
Financial inclusion proposal follows draft legislation to make central bank buy up spare US dollar cash
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan
RBI lines up ‘pan-India umbrella entity’ to shake up retail payments
Firm “may be permitted” to hold an account at the central bank
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency and improve financial inclusion
Zimbabwean central bank cuts rates and attempts currency controls
RBZ loosens policy as IMF predicts massive contraction in GDP for already-weakened country
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Kosovan central bank rolling out response to coronavirus shock
Governor Fehmi Mehmeti says economy is vulnerable but the central bank is taking action
Remittances can cause volatility if concentrated – IMF paper
Flows of remittances are broadly stabilising for the receiving country, but not if they are too concentrated, paper finds
Cambodia extends blockchain payment system pilot
Central bank lengthens trial to end-2019 and explores including cross-border transactions
BSP’s Diokno on forward guidance and cutting reserves
The Central Bank of the Philippines governor speaks to Christopher Jeffery and Alice Shen about fintech, efforts to wean Asia off the US dollar, and why he wants to cut policy and reserve requirement rates
Agustín Carstens on fixing the global monetary system
The BIS chief speaks about how to strengthen the global safety net, vulnerabilities in emerging markets and the challenges and opportunities posed by fintech
New data reveals 20% drop in correspondent banking
CPMI data reveals ongoing decline; FSB unveils latest work to reverse trend
Federal Reserve profits fall as normalisation takes hold
The Fed remittances to US Treasury fell by 18.5% from last year
The Bank of England’s missing records
Central banks need to implement robust archiving frameworks, should they want to maintain public trust and learn from the lessons of the past, writes former Bank of England official historian Forrest Capie
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Philippines toughens rules on crypto-exchanges
Philippines is one of the few central banks to adopt formal regulations on crypto-asset exchanges
Singapore to step up consumer protection on e-payments
Banks must offer users better protection measures, but users could also face fines for recklessness or carelessness
Philippines sees strong ‘hot money’ inflow despite currency weakness
Net inflow of foreign portfolio investments into Philippines hits six-month high, in contrast to weakness in peso
IMF says remittances do not balance out losses caused by emigration
Remittances are key for providing support to LAC countries in terms of fiscal and financial stability; lack of labour resources and decline in productivity outweighs remittance support
Central Bank of the Philippines receives international remittances award
Filipino central bank secures award by World Bank, European Commission and the United Nations for its efforts to broaden and deepen the country's financial markets
World Bank research sees value in ‘acyclical’ remittances
Remittance flows show little correlation with the business cycle and therefore can play an important role in allowing consumption smoothing