Financial Institutions and Markets (J)



Financial Institutions and Markets (J)


Since 01.01.2017 a new Ordinance came into force - Ordinance № 12 of 29.09.2016 on the Register of bank accounts and safe deposit boxes (RBASDB). It regulates the functioning, scope, procedure and deadlines for filing and obtaining information from RBASDB which is maintained by the Bulgarian National Bank (BNB). The register is an electronic information system that provides centralized information on bank account numbers, their holders and persons authorized to operate with the accounts, as well as customers of safety deposit boxes in banks and persons authorized by them. The ones who are entitled to obtain information from the “Register” are the authorities and institutions under article 56a, paragraph 3 (the judicial authorities, National Revenue Agency, State Agency “National Security”, Chief Directorate “National Police”, Chief Directorate “Combating Organized Crime”, the enforcement agents when an enforcement case is filed, banks, etc.), as well as natural persons and legal entities under article 56a paragraph 4 of the Law on Credit Institutions (LCI). Banks and branches of foreign banks operating in the country, as well as the BNB, have an obligation to submit the necessary information to the “Register”.

Read more: New Register of Bank Accounts and Safety Deposit Boxes in Bulgaria


Fenech Farrugia Fiott Legal are proud to announce the publication of the Malta chapter in the prestigious publication- The Transport Finance Law Review. The publication is international in scope and is designed to provide industry insights to transport finance in each of the key jurisdictions in which ships, rolling stock and aircraft are financed.

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A.S.A Bari, a Barrister at Lincoln’s Inn, Managing Partner of A.S & Associates and, and an Advocate of the Supreme Court of Bangladesh discusses Bangladesh’s current biggest legal challenge, Non-Performing Loan recovery. 

In Bangladesh, the foremost challenge for the financial institutes is Non-Performing Loan (NPL) recovery. Recently the Ministry of Finance of the Government of the People’s Republic of Bangladesh informed the national Parliament that the total amount of non-performing loan is BDT 560 Billion. According to Bangladesh Bank, the Central Bank of Bangladesh, NPL ratio increased by 113 basis points, reaching 9.9 percent at end of March 2016 from 8.8 percent (9.3 as per World Bank) recorded at end of December 2015. 

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By: WMS Chartered Accountants (Queensland, Australia - TIAG)

Click the link below to view Investment Markets and Key Developments over the Past Week; Major Global Economic Events and Implications; Australian Economic Events and Implications; and more.

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The Bank Indonesia (“BI”) has amended Bank Indonesia Regulation No. 16/21/PBI/2014 regarding Implementation of Prudential Principles in Managing Offshore Loans of the Non-Bank Corporation (“BI Reg No. 16/2014”) by enacting Bank Indonesia Regulation No. 18/4/PBI/2016 (“BI Reg No. 18/2016”), which came into effect on 22 April 2016. In essence, BI Reg No. 18/2016 broadens exemption from the obligation to comply with the credit rating[1] provision under Article 7 of BI Reg No. 16/2014.

Read more: Amendment of Offshore Loans Credit Rating Compliance for Non-Bank Corporations