Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Bank of Singapore names Lim Leong Guan head of Middle East private banking, based in Dubai
Bank of Singapore appointed Lim Leong Guan head of private banking for the Middle East, South Asia and International, based in Dubai from 1 July 2026, as part of a push to grow its ultra high net worth business, Singapore Business Review reported.
Pine Labs launches AI agent payments on India's UPI network
Pine Labs launched a payment protocol called P3P that let AI agents execute UPI transactions automatically when predefined conditions were met, marking a move into agentic commerce in India.
Indian smaller lenders pay over 7 percent on USD deposits to attract FCNR(B) funds
Smaller Indian banks offered more than 7 percent on US dollar FCNR(B) term deposits after the RBI opened a special window to bear banks' hedging costs on fresh FCNR(B) deposits, prompting a scramble for foreign currency deposits.
MAS unveils revised single family office framework taking effect 15 June 2026
The Monetary Authority of Singapore published a class exemption for qualifying SFOs, requiring MAS notification, a MAS-licensed bank account and annual AUM returns.
Bank of Thailand says it has confidence in baht's stability amid volatility
The Bank of Thailand said it was confident the baht remained stable despite recent depreciation against the US dollar, attributing the move to global market volatility linked to the conflict between the United States and Iran.
Bank Indonesia, HKMA and PBoC sign pact for direct rupiah–offshore yuan transactions
A three-way MoU sets up direct IDR/CNH exchange and settlement for trade and investment between Indonesia and Hong Kong, through appointed dealer banks.
China's investment clampdown clouds outlook for Hong Kong banks and insurers
Beijing's crackdown on cross-border investment by mainland Chinese clients, reported by Reuters, was set to weigh on the businesses of Hong Kong banks, insurers and wealth managers and triggered a selloff in their shares.
DBS unveils tokenised physical gold offering for retail customers in Singapore
DBS unveiled a tokenised physical gold product for customers in Singapore, saying retail access was expected through its digibank platform in the second half of 2026.
SBI, ICICI Bank, HDFC Bank raise FCNR(B) rates after RBI swap window
State Bank of India, ICICI Bank and HDFC Bank raised FCNR(B) deposit rates after the Reserve Bank of India launched a foreign currency swap window that lowered banks' currency hedging costs.
TransUnion offers free credit reports for Hong Kong residents after HKID loss
TransUnion offered a one-time free credit report to eligible Hong Kong residents who lost their HKID, aiming to give immediate visibility into credit profiles during the high-risk period after identity loss.
Indian Overseas Bank hikes rates on select non-callable fixed deposits
Indian Overseas Bank raised retail non-callable fixed deposit rates, lifting the one-year public rate to 6.7 percent from 6.6 and the over-one-to-two-year tenor to 6.6 percent from 6.5.
Japan's MUFG, SMBC and Mizuho agree to set up council for joint yen stablecoin, targeting live transactions by March 2027
Japan's three megabanks will set up a council to prepare the infrastructure, governance and operating rules for a jointly issued yen stablecoin, with live transactions targeted in the fiscal year ending March 2027.