Bank Negara Malaysia and Bank Indonesia have signed a memorandum of understanding to deepen cooperation across central banking functions. The BNM BI cooperation agreement covers monetary policy, financial stability, macroprudential policy, payment systems, digitalisation, financial sector development, capacity building and information sharing. BNM Governor Abdul Rasheed Ghaffour said the MoU reaffirms the long-standing partnership between the two central banks and expands coo

Invest Hong Kong will increase engagement with Africa as Associate Director-General Loretta Lee begins an eight-day visit to Johannesburg and Kigali to promote the city as a gateway for African companies expanding into mainland China and Asia-Pacific markets. The InvestHK Africa ties push includes meetings with chambers, banks, financial institutions, fintech firms and professional services groups in Johannesburg from May 10 to 13, before Lee attends the Africa CEO Forum in R

Saudi Arabia’s Public Investment Fund has launched a second mainland China office in Shanghai as the sovereign wealth fund deepens ties with the world’s second-largest economy. The Saudi PIF China expansion strengthens the fund’s outbound investment capabilities and supports efforts to attract Chinese companies into Saudi Arabia. The USD1tr sovereign wealth fund’s Shanghai office, opened earlier in 2026, operates under its Beijing outpost led by Lily Cong. The move highlights

Global regulators have warned that private credit risks are increasing as links deepen between private credit firms, banks, insurers, asset managers and private equity groups. The Financial Stability Board said the market was valued at between USD1.5tr and USD2tr in 2024. The watchdog highlighted rising defaults, limited transparency, liquidity mismatches and the retailisation of private credit as key concerns. While direct bank exposure remains limited at below 0.5% of total

Thai lenders are accelerating their Thai wealth management expansion as sluggish loan growth and lower interest rates pressure profitability. Analysts at CGS International said wealth management is expected to become the main driver of non-interest income growth between 2026 and 2028. Thailand’s four largest banks generated between 13% and 19% of non-interest income from wealth management in 2025, significantly below Singapore’s DBS at 57.5%. Bank of Thailand data showed ther

UBS has announced a series of senior appointments within its Southeast Asia wealth management division as the Swiss bank strengthens advisory capabilities in Singapore and the wider region. The UBS Southeast Asia reshuffle includes Vivian Li moving into a senior client adviser role within global family and institutional wealth for Singapore. Shane Huang will become advisory and sales head of premium advisory specialists for Southeast Asia from May 18, while Cheng Chi Li takes

Janus Henderson Group has partnered with Hong Kong’s Sun Hung Kai & Co. to expand alternative investment offerings across Asia Pacific amid rising demand from family offices, ultra-high-net-worth investors and institutions. The family office investments partnership will involve SHKCP, SHK & Co.’s alternative solutions arm, and focus on product co-development, strategic seeding and direct investment opportunities across public and private markets globally. SHKCP also provides

Malaysia’s Armed Forces Fund Board, or LTAT, is preparing its first move into private credit as it seeks defensive investments with high-single-digit returns. LTAT managed more than MYR13bn (USD3.29bn) at the end of 2025. Chief investment officer Ahmad Farouk said the Malaysia private credit strategy remains at the governance and manager-selection stage, with the pension fund prioritising capital preservation. Farouk said institutional investors should support SMEs that strug

Singapore has retained the Financial Action Task Force’s highest monitoring rating despite the SGD3bn (USD2.2bn) money laundering scandal uncovered in 2023. The Singapore FATF rating review covered the period from 2020 to July 2025 and placed the city-state on regular follow-up, the watchdog’s most favourable category. FATF said Singapore achieved seven substantially effective ratings across 11 measures and was compliant or largely compliant on 38 of 40 technical recommendati

Hong Kong SME credit conditions remained broadly stable during the first quarter of 2026, according to the Hong Kong Monetary Authority. Around 73% of SMEs said banks’ credit approval stance was similar or easier than six months earlier, compared with 70% in the previous quarter. Only 27% perceived approvals as more difficult, down from 30%. Among SMEs with existing credit lines, none reported a tighter bank stance. Of firms applying for new credit, 91% reported fully or part

Asia wealth consolidation is accelerating as Ascend Asia Financial Services Group acquires three Singapore advisory firms—Infinity Financial Advisory, SG Alliance and PromiseLand Financial Advisory. The deals, executed through Ascend Asia Singapore Advisory, have received approval from the Monetary Authority of Singapore, though financial terms were not disclosed. The acquisitions remain subject to regulatory and transaction conditions. Following completion, Ascend Asia will

Southeast Asia wealth expansion is gathering pace as OCBC’s Indonesian unit agrees to acquire HSBC Indonesia’s wealth and premier banking portfolio. The transaction will transfer 336,000 customers, SGD6.6bn (USD4.88bn) in assets under management and around 1,300 staff to PT Bank OCBC NISP. The portfolio includes SGD4.3bn(USD3.18bn) in investments, SGD2.3bn(USD1.70bn) in deposits and SGD0.3bn(USD0.22bn) in retail loans, based on unaudited end-2025 figures. OCBC said the deal w

Thailand private trust reforms are being proposed to attract up to THB1tr (USD27bn) in global wealth within two years. The Association of Investment Management Companies said the framework is designed to position Thailand as a regional asset management hub, drawing inspiration from Singapore’s model while adapting it locally. Private trusts are widely used by high-net-worth individuals, family offices and institutions for cross-border investment, succession planning and asset

Cross-border insolvency cooperation is strengthening as Singapore and Indonesia’s supreme courts sign a memorandum of understanding to coordinate restructuring and insolvency cases. The agreement establishes formal communication channels between courts, helping reduce inconsistent rulings, fragmented proceedings and higher costs. Signed in Bali, the framework builds on the UNCITRAL Model Law and outlines processes including liaison officers and language protocols. It will app

Family office philanthropy is helping position Singapore as a leading regional hub for structured giving, as wealthy families increasingly establish foundations and formal charitable vehicles. The city had more than 2,000 family offices at end-2024, nearly ten times the number five years earlier, while registered charities rose to 2,406 from 2,321 in 2020. Industry participants said next-generation wealth holders are moving beyond ad hoc donations toward more structured appro

Hong Kong SME credit conditions remained broadly stable in the first quarter, with 27% of firms reporting difficulties securing credit-line approvals, down from 30% in the previous quarter, according to the Hong Kong Monetary Authority. The survey of about 2,500 SMEs showed 73% viewed banks’ credit stance as similar or easier, compared with 70% previously. Among companies with existing credit lines, none reported tighter conditions, improving from 1% in the prior quarter. Aro

Hong Kong corporate banking leadership is being reshaped as Citi and UOB appoint new heads to strengthen client coverage in the financial hub. Citi named Anita Li as head of corporate banking for Hong Kong, effective July 2026. She joins from Standard Chartered, where she led investor coverage across Greater China and North Asia. Separately, UOB appointed Cliff Law as head of corporate banking in Hong Kong, effective immediately, succeeding Anthony Tse. Law brings over 20 yea

Singapore safe-haven property demand is rising as Chinese developers increase investment in the city-state’s residential market. Mainland Chinese firms were the second-largest investors in Singapore in 2025, accounting for 21% of SGD14.16bn (USD10.48b) in fixed-asset investment, up sharply from 2.5% a year earlier. Recent deals include a SGD951m (USD703.74m) site at Dover Drive acquired by CNQC Realty, Forsea Residence and Jianan Realty Investments, as well as Kingsford Group

AI financial crime detection is advancing as the Monetary Authority of Singapore works with local banks, GovTech and the police to strengthen scam detection capabilities. MAS said it is running a proof-of-value exercise using data from five banks to develop machine learning models that can identify higher-risk transactions and suspicious accounts earlier, enabling faster intervention and potentially reducing customer losses. The project operates within a secure data-sharing e

HKEX gold futures are set for a comeback as Hong Kong moves to strengthen its commodities and precious metals trading ecosystem. Acting financial services secretary Joseph Chan said the exchange plans to relaunch gold futures in the coming months, with improvements to contract design and delivery mechanisms. HKEX is consulting market participants and stepping up investor education efforts ahead of the launch. Chan added that preparations for a central gold clearing system are