Bangladesh, Indonesia, India, Turkey, Iraq, Ghana, Botswana regulators issue rules

Bangladesh Bank directs all scheduled banks operating in Bangladesh to conduct foreign exchange auctions, interbank foreign exchange transactions (spot, forward, swap), customer-level foreign exchange transactions, and remittance reporting through the newly developed Foreign Exchange Market (FXM) Module in its live environment from 1 September 2026, replacing manual processing. An Operational Guidelines document for system users is attached for reference and necessary action.

This consolidated circular issued by Bangladesh Bank's Foreign Exchange Policy Department updates and replaces FE Circular No. 34 of September 02, 2025, consolidating all subsequent instructions on foreign exchange regulations governing loans, overdrafts, guarantees and external borrowings. It applies to all Authorized Dealers in foreign exchange in Bangladesh and covers lending to non-residents and foreign-owned/controlled companies, guarantees on behalf of residents and non-residents, credit facilities to specialized zone enterprises, and borrowing abroad by residents. The instructions remain valid for one year from issuance, and all previous instructions are repealed except the reporting instructions in the Guidelines for Foreign Exchange Transactions (GFET), Vol.-2.

Bangladesh Bank's Foreign Exchange Policy Department allows Authorized Dealers to make outward remittances on behalf of industrial enterprises in Hi-Tech Parks for royalty, technical know-how and technical assistance fees from Taka accounts, within the existing limits previously applicable only to FC account remittances. ADs must verify that the enterprises have no foreign currency income sources and that applicable taxes and VAT have been deducted and paid, and must obtain prior BHTPA approval for amounts exceeding the prescribed limits.

Bangladesh Bank's Foreign Exchange Policy Department modifies paragraph 5 of FE Circular No. 27 (dated July 03, 2025) to broaden the scope of financing that may be secured by balances held in private foreign currency accounts and non-resident foreign currency deposit accounts. Such balances may now serve as collateral not only for short-term working capital financing in local currency to resident companies, firms and individuals, but also for short-term finance or consumer finance in local currency to resident persons and NRBs. All other instructions in the earlier circular remain unchanged.

Bangladesh Bank introduces a fee-based, instant, end-to-end digital 'e-Payment Credit' facility allowing scheduled banks to extend small short-term credit of up to BDT 10,000 to eligible customers for settling specified digital payment obligations such as utility bills, mobile recharge, educational fees, healthcare expenses, taxes, and insurance premiums. The circular sets credit limits, tenures, and maximum fees, mandates fully digital disbursement and repayment, and imposes requirements on customer consent, data localization, AML/CFT compliance, credit scoring, and reporting. Banks must conduct a minimum six-month pilot before commercial launch and notify the department within 15 working days of launch.

Bangladesh Bank's Foreign Exchange Policy Department-1 has increased the annual foreign exchange entitlement for adult Bangladeshi nationals residing in Bangladesh for travel abroad from USD 12,000 to USD 18,000 or equivalent. The entitlement for minors below 12 years remains 50 percent of the adult amount, and the release of foreign exchange in USD notes is capped at USD 5,000 per person within the applicable entitlement. All other instructions on travel-related foreign exchange remain unchanged.

The Securities and Exchange Commission of Ghana issues guidelines requiring market operators and virtual asset service providers to conduct all business communications over approved channels that can be captured, retained, retrieved and supervised, with Class III communications restricted to Recognised Market Communication Platforms. The guidelines establish a recognition regime for communication platforms, recordkeeping and retention standards, governance and attestation duties, and sanctions for non-compliance. They aim to protect investors, ensure fair and transparent markets, and reduce systemic risk.

The International Financial Services Centres Authority amends the IFSCA (Fund Management) Regulations, 2025, revising definitions of 'associate', investment and deployment rules for monies received before scheme close, contribution requirements for venture capital and restricted schemes, NAV computation and disclosure timelines, and code of conduct obligations for fund management entities and fiduciaries. The amendments affect fund management entities operating in IFSC and their schemes, investors, and fiduciaries.

The International Financial Services Centres Authority amends the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025 by inserting language into the first proviso of sub-regulation (5) of regulation 28, allowing certain situations as per an approved policy, including but not limited to, in relation to a rating. The amendment comes into force on the date of its publication in the Official Gazette and affects capital market intermediaries regulated by IFSCA.

The International Financial Services Centres Authority amends the 2022 regulations governing the manner of payment and receipt of premium in IFSC insurance business. The amendment replaces the definition of 'premium' in regulation 3(1)(f) so that it takes the meaning assigned under the Insurance Act, 1938, and adds an explanation clarifying that in re-insurance business premium means the consideration paid or payable under a re-insurance contract to cover the risk. The regulations take effect on the date of their publication in the Official Gazette.

The International Financial Services Centres Authority (IFSCA) has issued the IFSCA (Staff Service) Regulations, 2026, under Section 28 read with Section 11(1) and (2) of the IFSCA Act, 2019. These regulations govern the recruitment, promotion, pay, allowances, leave, conduct, discipline, and appeal procedures for employees of the Authority. They apply to all employees appointed by the Authority, including those on deputation and contract, and set out detailed rules on service conditions, penalties for misconduct, and related matters.

This regulation is the second amendment to Member of the Board of Governors Regulation Number 27 of 2025 concerning Implementing Regulations for Macroprudential Liquidity Incentive Policies. This regulation adjusts the amount of macroprudential liquidity incentives (KLM) for the distribution of Credit or Financing to specific sectors and adds a new incentive scheme based on the achievement of the securities ownership ratio supporting the distribution of Credit or Financing. This regulation applies to Conventional Commercial Banks, Sharia Commercial Banks, and Sharia Business Units, and comes into force on September 1, 2026.

This Regulation of the Member of the Board of Governors establishes the participation framework in the operation of the BI-RTGS System, SKNBI, BI-SSSS, and BI-ETP System, covering requirements and procedures to become a Participant, changes in participation data, participation status and its changes, as well as correspondence. This regulation applies to prospective Participants and Participants from commercial banks, payment system service providers, non-bank institutions, and other institutions approved by Bank Indonesia, and strengthens the aspects of bank participation in resolution and infrastructure risk management. This regulation revokes Member of the Board of Governors Regulation Number 23/24/PADG/2021 and Appendix II of Member of the Board of Governors Regulation Number 24 of 2025.

This Financial Services Authority Regulation governs the issuance and reporting of Asset-Backed Securities in the Form of Participation Certificates (ABS-PC) for Secondary Housing Financing, covering financial assets, issuance agreements, issuance and offering procedures, the duties of the Issuer, Trustee, Custodian Bank, Original Creditor, and Service Provider, general meetings of ABS-PC holders, as well as periodic and incidental reporting obligations. This regulation replaces OJK Regulation 23/POJK.04/2014 and OJK Regulation 20/POJK.04/2017 to expand alternatives for deepening the housing financing market through capital market instruments while prioritizing prudential principles, transparency, and investor protection. This regulation applies to Issuers, Original Creditors, Trustees, Custodian Banks, Service Providers, and other parties involved in the issuance of ABS-PCs.

This regulation integrates and refines the provisions regarding Periodic Reports that must be prepared and submitted by Guarantee Institutions to the Financial Services Authority, covering Monthly Reports, Annual Reports, and Other Reports. This regulation sets the obligation to submit reports online through the OJK reporting system, submission deadlines, the obligation to publish reports, as well as administrative sanctions for delays or incorrect information. This regulation supports the transition of supervision from compliance-based to risk-based for the guarantee industry.

The Central Bank of Iraq, acting on Board of Directors Decision No. 138 of 2026, has revoked the licences of three category (A) exchange companies (Al-Aswar, Al-Qataf and Al-Anamil) and confiscated their guarantee letters for violating prevailing instructions and controls and for falsifying cash sales of foreign currency to travellers. The companies must return the dollar amounts from the violating transactions (or the exchange-rate differential) to the Bank, and their managing directors, compliance officers, AML/CFT reporting officers, airport outlet staff and shareholders are banned from working in or holding stakes in banking and non-banking financial institutions.

The Capital Markets Board has published a Principle Decision prohibiting persons within the scope of Article 27 of the Communiqué on Shares No. VII-128.1 from selling shares above the thresholds determined according to the actual free float rate in any 12-month period outside the Exchange through special orders, BİAŞ Wholesale Transactions Market, or transfer/handover methods. Preparing a Board-approved share sale information form is mandatory for transfers exceeding the thresholds, and sales made prior to 29.08.2026 are not included in the 12-month period calculations. Partnerships included in the BIST 30 Index and partnerships controlled by the Ministry of Treasury and Finance, the Turkey Wealth Fund, and public institutions are exempt from these restrictions.

The Capital Markets Board of Turkey (SPK) published its weekly bulletin no. 2026/56 dated 3 September 2026, announcing approvals of IPO prospectuses and issuance certificates, new fund establishment and portfolio management licenses, administrative fines and criminal complaints for market-distorting transactions and unauthorized crypto asset service provision, and other application results. The bulletin affects issuers, publicly traded companies, portfolio management companies, and individuals sanctioned for market abuse.