Bangladesh, Indonesia, Saudi Arabia and others: FX, banking, IPO and cyber rules

Bangladesh Bank's Foreign Exchange Policy Department permits Offshore Banking Units (OBUs) to undertake outright purchase and sale of foreign currency and cross-currency swap transactions with their Domestic Banking Units, other Authorized Dealers, other OBUs, and other legitimate local counterparties, notwithstanding the activity limitations in paragraph E(1) of the Guidelines for Offshore Banking Operations. The circular aims to facilitate legitimate customer transactions, enhance foreign currency liquidity and asset-liability management, and align offshore banking operations with international treasury practices, while prohibiting speculative foreign exchange trading.

Bangladesh Bank's Foreign Exchange Policy Department permits Authorized Dealers to credit foreign currency remittances received through exchange houses and International Money Transfer Operators (IMTOs) to Private Foreign Currency (PFC) accounts and Non-Resident Foreign Currency Deposit (NFCD) accounts. The circular aims to facilitate smooth inflow of foreign currency deposits and enhance customer convenience, subject to compliance with KYC, AML/CFT standards and applicable foreign exchange regulations.

Bangladesh Bank's Foreign Exchange Policy Department permits Authorized Dealers to open and maintain Taka vostro accounts for correspondent banks of trading partner countries without initial deposits by inward remittances in convertible currencies, to facilitate cross-border import and export transactions settled in Taka. The circular sets out how such accounts may be credited and debited, how surplus funds may be used, and the reporting, due diligence, and AML/CFT obligations that apply.

Bangladesh Bank's Islamic Banking Regulation & Policy Department issues a comprehensive regulatory framework for Shariah-compliant Islamic Credit Card (ICC) operations by scheduled banks offering Islamic banking services. The Guidelines govern eligible issuers, Shariah structures (principally Qard Hasan with Ujrah and covered cards), credit limits, fee classification and caps, billing, collection, customer protection, dispute resolution, internal control, Shariah governance, fraud prevention and reporting. They are issued under Section 45 of the Bank Company Act, 1991 and come into force immediately.

The Financial Market Commission (CMF) of Chile modifies regulatory file R07 of the Risk System of the Information System Manual for banks (MSI Banks), which reports market risk-weighted assets. The adjustment, in the first record of the file, replaces the filler X(179) with X(181) and extends the record length from 194 to 196 bytes. The updated sheet of file R07 is published on the CMF website.

The International Financial Services Centres Authority amends its Consolidated Circular on the import of gold or silver through the India International Bullion Exchange (IIBX) by relaxing the eligibility criteria for notification as a Qualified Jeweller. Entities holding a valid Advance Authorisation, an RCMC issued by GJEPC, or a DGFT Authorisation for import under specific ITC (HS) codes may now apply through IIBX to be notified as Qualified Jewellers, subject to conditions on the ITC (HS) codes and export purposes covered by their authorisations. The amendment is intended to facilitate seamless and timely imports of gold or silver through IIBX.

The International Financial Services Centres Authority (IFSCA) issues a framework enabling Fund Management Entities in IFSCs to offer multiple classes of units (senior and junior/subordinate) with differential distribution rights in Venture Capital Schemes and Restricted Schemes, to facilitate blended finance and other fund structures. The framework sets conditions on issuance of such units, disclosures in the Placement Memorandum, acceptance of grants by ESG Schemes, minimum investment thresholds, and due diligence obligations for FMEs and their Key Managerial Personnel.

This Regulation of the Member of the Board of Commissioners of the OJK governs the provisions for the implementation of electronic public offerings of debt securities and/or sukuk, as the implementation of the mandate of OJK Regulation Number 41/POJK.04/2020. This regulation governs the obligation to use the Electronic Public Offering System, the provision of order funds, submission of interests and orders, verification, centralized allotment and fixed allotment mechanisms, and the settlement of debt security and/or sukuk orders. This regulation comes into force 1 year from the date it is enacted and affects issuers, securities companies, underwriters, system participants, system providers, custodian banks, and investors.

This OJK regulation replaces POJK No. 5/POJK.03/2016 and sets new requirements for how Indonesian commercial banks (conventional, sharia, and foreign bank branches) must prepare, submit, amend, adjust, and report their business plans (Rencana Bisnis). It mandates risk-based, realistic annual business plans covering a detailed minimum content, board approval and sharia supervisory board opinions, submission by 30 November before the plan year, limited amendments, and quarterly/semestral realization and supervisory reports, with administrative sanctions for violations. The new framework first applies to business plans for 2028, while 2027 submissions continue under the prior regulation.

This Regulation of the OJK Board of Commissioners Member regulates the implementation of Country Risk and Transfer Risk management for commercial banks, both individually and on a consolidated basis with subsidiaries. Banks are required to calculate Country Risk and Transfer Risk ratios every semester, categorized into three groups based on those ratios, and implement risk management and reporting according to their category. These provisions are the implementation of the POJK regarding risk management and governance implementation for commercial banks, with the first calculation obligation for the June 2027 data position and full implementation no later than September 2028.

This regulation amends Member of the Board of Governors Regulation Number 24 of 2024 concerning information system security and cyber resilience for payment system operators, money market and foreign exchange market participants, and other parties regulated and supervised by Bank Indonesia. The amendments include detailing the obligations and deadlines for submitting annual and incidental reports, the establishment of vital information infrastructure in the financial sector by Bank Indonesia, and the graduation of administrative sanctions for reporting violations. This regulation comes into force on the date it is enacted.

The Securities and Exchange Commission of Nigeria directs all Public Companies and Significant Public Interest Capital Market Operators to prepare for the phased adoption of the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2) under the FRCN Roadmap, with mandatory reporting for public interest entities from accounting periods beginning on or after 1 January 2028 and for SMEs from 1 January 2030. Regulated entities must submit an Implementation Plan to the Commission by 15 October 2026 covering governance, gap assessment, timelines, data systems, assurance, training, and expected first reporting year.

The Capital Market Authority of Saudi Arabia announces its approval of Allied Cooperative Insurance Group Company's request to increase its capital from SAR 291,000,000 to SAR 300,000,000 through the offering of 900,000 shares valued at SAR 9,000,000, with the suspension of preemptive rights. The approval is conditional on the issuer obtaining extraordinary general assembly approval within six months and meeting all related regulatory requirements. The offering is limited to investor categories stipulated in the Rules on The Offer of Securities and Continuing Obligations.

The Capital Market Authority of Saudi Arabia is inviting public feedback on draft regulatory provisions aimed at enhancing initial public offering (IPO) practices, particularly the book-building and pricing process. The draft would require underwriters' agreements to be effective before book-building begins, oblige financial advisors and other Capital Market Institutions to verify that participation orders reflect actual investor liquidity, and require issuers to disclose forward-looking statements and financial performance indicators for at least one year. The consultation runs for 30 calendar days, ending 22 October 2026, and the provisions would take effect on 2 November 2026 if approved.

The Capital Market Authority of Saudi Arabia is seeking public feedback on draft regulatory provisions restricting algorithmic trading in the Saudi capital market. The draft caps the ratio of algorithmic trading orders to executed trades at 20 orders per executed trade for securities on the Main Market (excluding the Very High Liquidity category) and requires Capital Market Institutions to maintain systems, supervisory procedures, and testing methodologies for algorithmic trading. The consultation runs for 30 days, ending 24 October 2026, with the final provisions intended to take effect on 1 November 2026.

The Capital Market Authority of Saudi Arabia is seeking public feedback on draft regulatory provisions governing how capital market institutions conduct dealing activities in financial markets outside the Kingdom. The draft sets suitability requirements for transactions in equivalent foreign markets and imposes margin controls on external margin transactions, including a minimum 50% margin and restrictions on highly leveraged instruments and companies with accumulated losses exceeding half their capital. The consultation runs for 30 days, ending 27 October 2026, and the final provisions are intended to take effect on 1 November 2026.

The Central Bank of Sri Lanka amends Banking Act Directions No. 01 of 2024 on Large Exposures of Licensed Banks by inserting a new Direction 8.10, which excludes certain investments in instruments issued or guaranteed by foreign sovereigns and their central banks from the maximum exposure limits in Directions 6 and 7. The exclusion applies only where the instruments are risk weighted at 0 per cent under the Basel III capital requirements directions, are permitted by the Central Bank, are denominated in the respective sovereign's domestic currency, and do not exceed 50 per cent of the licensed bank's Tier 1 capital for any single sovereign and its central bank.

The Bank of Thailand has announced the issuance and auction plan for Bank of Thailand bonds for October 2026, totaling 10 issues with a total amount of 425 billion baht, consisting of 91-day, 182-day, 364-day, 2-year maturities, and a floating rate bond linked to Compounded THOR plus 0.05% per annum. This announcement is effective from October 1, 2026, to allow financial institutions and investors to know the auction and settlement schedule in advance.

The Capital Markets Board of Turkey announced a principle decision suspending, until further notice, the upper limit on the total amount of shares that may be repurchased under share buyback programs conducted pursuant to its earlier principle decision i-SPK.22.9. The suspension applies to the limit set out in the third paragraph of Article 9 of the Geri Alınan Paylar Tebliği (II-22.1).

This bulletin contains the weekly decisions of the Capital Markets Board dated September 23, 2026. The bulletin includes the approval of share issues and debt instrument and lease certificate issuance ceilings of various companies, administrative fines imposed on Hidropar Hareket Kontrol Teknolojileri Merkezi Sanayi ve Ticaret AŞ and related persons due to the circumvention of the share sale information form obligation, the authorization of the partnership structure change and capital increase of Neta Menkul Değerler AŞ, the results of various merger and tender offer applications, and decisions regarding the capital increases of Investment Institutions.

The Capital Markets Board of Turkey (SPK) announces criminal complaints, administrative sanctions, and license revocations related to trading in Özata Denizcilik Sanayi ve Ticaret AŞ (OZATD) shares on the equity market. Eleven individuals and two intermediary institutions are subject to a two-year ban on trading in Borsa and other organized markets, and certain individuals' licenses are revoked for the duration of the trading ban. The document also outlines the conditions for benefiting from effective remorse provisions under Article 107/3 of Law No. 6362.