Welcome to Carver's ASEAN Regulatory Updates.

This episode highlights significant regulatory and institutional developments across ASEAN financial markets. The Monetary Authority of Singapore (MAS) has issued a prohibition order against an individual for forgery and unauthorized access, reinforcing consumer protection with mandatory real-time transaction alerts and clarified liability rules for fraudulent transactions.

In Malaysia, Bank Negara introduces a new operational risk reporting policy to enhance banking sector resilience. The Malaysian Climate Finance Accelerator program invites innovative low-carbon businesses to support the country’s sustainable transition.

Bank Indonesia and the Bank of Korea have renewed their bilateral currency swap arrangement, facilitating financial stability with a multi-trillion local currency exchange. They are also launching a Korea-Indonesia cross-border QR payment interlinkage service to enable seamless payments and reduce foreign exchange risks.

These updates demonstrate ongoing efforts by ASEAN regulators to strengthen financial stability, promote innovation, and protect consumers in a rapidly evolving digital economy.

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Articles mentioned:

1. Moody's Affirmed the Republic of Indonesia's Sovereign Credit Rating at Baa2, Outlook Revised to Negative
2. MAS Issues Prohibition Orders against Jimmy Ling Xiao Ting
3. Daily News 02 / 02 / 2026
4. 06 Feb 2026 - Policy Document on Operational Risk Reporting
5. Trading Suspensions: TechCreate Group Ltd.
6. 06.02.2026 - National Armaments Director on business trip in Singapore and South Korea
7. Opening Speech by Minister Josephine Teo at the Launch of Exercise SG Ready 2026 and Total Defence Commemoration Event on 1 Feb 2026
8. Opening Address by Mr David Koh, Chief Executive of CSA at CYSAT Asia on 5 Feb 2026
9. Bank Indonesia and Bank of Korea Continue Cooperation on Korea–Indonesia Cross-Border QR Payment Interlinkage
10. Written reply to Parliamentary Question on delays and non-receipt of transaction alerts for fraudulent transactions
11. Innovative low-carbon businesses invited to apply for new Climate Finance Accelerator Malaysia
12. PDPC to Step up Enforcement Action Against Misuse of NRIC numbers and Issues New Advisory on Data Protection
13. Organisations to cease the use of NRIC numbers for authentication by 31 December 2026
14. CSA and MHA Launch National Simulated Scams Exercise as Part of Exercise SG Ready 2026
15. Bank of Korea and Bank Indonesia Signed a Renewal of Bilateral Currency Swap Arrangement
16. BI and BOK Continue Cooperation on Korea–Indonesia Cross-Border QR Payment Interlinkage
17. Bank Indonesia and Bank of Korea Signed a Renewal of Bilateral Currency Swap Arrangement
18. Singapore’s Contributions to the International Monetary Fund – First Motion Speech by Mr Alvin Tan
19. NEWS BRIEF 05-02-26
20. Written reply to Parliamentary Question on clearer regulatory guidance on assigning liability for fraudulent transactions