The International Actuarial Association announced its 2026 election results, appointing Mike Lombardi as President, with a focus on enhancing the organization's effectiveness and efficiency, and reinforcing its global role in the actuarial profession.
The Organisation for Economic Co-operation and Development (OECD) announced that 147 countries in the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting have agreed on key elements for global minimum tax arrangements, including simplification measures, substance-based tax incentive safe harbours, and reinforcement of domestic minimum top-up tax regimes. Implementation tools and fact sheets will be released soon, with a webinar on 13 January 2026.
The Dominican Republic Superintendence of Banks reported a 9.3% year-on-year growth in total financial system assets to DOP 4.19 trillion as of 30 November 2025, with credit portfolios and public deposits also increasing significantly. Asset quality indicators showed a delinquency ratio of 1.93% and a stressed delinquency metric of 7.73%, while profitability for the first 11 months reached DOP 81.808 billion, reflecting a 3.4% increase year-on-year.
The British Virgin Islands Financial Services Commission announced the retirement of Lydia George as Deputy Registrar of Corporate Affairs, effective 31 December 2025, with Dr Michelle Todman Smith assuming the role. George, who served for 32 years, was recognized for her contributions to the Registry of Corporate Affairs, with the transition to Dr Todman Smith now complete.
The Uganda Insurance Regulatory Authority confirmed that the Regional Customs Transit Guarantee (RCTG) Bond remains valid for issuance and renewal, alongside the East African Community (EAC) Customs Bond. The Authority emphasized that no directive has been issued to discontinue the RCTG Bond, and both products will operate concurrently unless formally directed otherwise. Insurers and intermediaries should adhere to existing laws and regulatory instruments.
The Central Bank of Jordan released a roadmap for transitioning to quantum-resistant encryption, addressing cyber and operational risks. It outlines a phased approach aligned with international best practices, urging institutions to integrate quantum-computing risks into risk registers, enhance governance, and prioritize cryptographic asset migration. It emphasizes coordination among financial institutions, vendors, and technology partners for effective implementation.
The Middle East and North Africa Financial Action Task Force (MENAFATF) appointed H.E. Mr. Hamid Saif Al Zaabi as President for 2026 and outlined priorities including strengthening member preparedness for mutual evaluations, reinforcing governance, and supporting FATF recommendation implementation. Additional focuses are enhancing cooperation with partners, understanding financial crime risks, and bolstering logistical resources at the Secretariat.
The Central Bank of the Philippines and AMA Rural Bank of Mandaluyong, Inc. have resolved all disputes through a Compromise Agreement, with AMA Bank's clients advised to submit payment claims and queries to the bank under BSP's regulatory oversight.
The Central Bank of Peru reported a significant increase in digital payments per adult, rising from 90 in 2021 to 625 by October 2025, driven by the expansion of digital wallets and payment cards. This trend aligns with the modernization of the General Regulation of the National Payment System to support an innovation-driven payments ecosystem.
The Jordan Securities Commission issued a warning against unlicensed companies offering unrealistic profits through foreign exchange and virtual assets, urging investors to verify licensing and report suspicious activities to the Anti-Cybercrime Unit. The Commission emphasized risks such as fund loss, fraud exposure, and lack of legal protection, and stated it will pursue legal action against violators.
The Central Bank of Jordan has released a roadmap for transitioning the financial and banking sectors to quantum computing encryption, emphasizing phased management of quantum-related cyber and operational risks, integration into enterprise risk registers, and coordination with financial institutions. The plan includes inventorying cryptographic assets, prioritizing migration based on risk, and piloting quantum-resistant solutions before full implementation.
Thailand's Securities and Exchange Commission (SEC) has directed ERX Co., Ltd., operating as KuCoin Thailand, to suspend digital asset operations due to a capital shortfall exceeding 60% of the regulatory minimum from 29 December 2025 to 2 January 2026. ERX must notify clients, facilitate asset withdrawals, and secure SEC approval before resuming operations.
The Central Bank of Nigeria's December 2025 Expectations Survey Report shows optimistic business sentiment, with the Confidence Index at 37.5 points and projected to rise to 52.5 in six months. The Industry sector leads the positive macroeconomic outlook, and the naira is expected to appreciate. Key constraints include insecurity, high taxes, and insufficient power supply.
The Central Bank of Nigeria's December 2025 Inflation Expectations Survey Report shows a decline in inflation perception, with the index dropping to 41.7 points from 43.5 in November. The percentage of respondents viewing inflation as high decreased to 50.2%, with expectations for stable inflation in the coming months. Key inflation drivers include energy, transportation, exchange rates, insecurity, and interest rates, while 93.4% of respondents found the CBN's communication transparent.
The Central Bank of Nigeria's December 2025 Household Expectations Survey shows improved consumer sentiment and economic conditions, with the sentiment index rising to 4.8 from 1.9 in November. Economic and family financial situation indices also showed positive trends, while perceptions of price changes slightly improved. Forward-looking indices suggest continued optimism for early 2026, despite expectations of slight price increases.
Austria's Ministry of Finance outlined 2026 measures including a tax fraud programme expected to generate EUR 270 million, new tax exemptions for overtime and public holiday work, and changes to reduce paper receipt printing while maintaining issuance requirements. Additional initiatives involve abolishing input VAT deductions for certain real estate rentals, enhancing crypto asset taxation, and improving budget transparency with monthly state data disclosure.
The Financial Conduct Authority (FCA) is investigating The Claims Protection Agency Limited (TCPA) over concerns about its advertising and sales tactics for motor finance claims, focusing on customer information and pressure tactics. TCPA has stopped onboarding new customers and financial promotions following a voluntary requirements application. The FCA also highlighted its broader efforts on claims management company conduct and a proposed motor finance consumer redress scheme.
The Bank of Greece reported a slowdown in annual growth for both total credit to the domestic economy and total deposits in November 2025, with total credit growth easing to 5.0% and deposit growth to 5.2%. Despite this, monthly net flows turned positive, with private sector deposits rising by EUR 1,032 million and corporate credit flows reaching EUR 1,167 million.
The Central Bank of Cyprus reported a net increase in total deposits by EUR 330.8 million to EUR 57.9 billion and in total loans by EUR 71.5 million to EUR 26.8 billion for November 2025, with annual growth rates rising to 6.7% for deposits and 10.5% for loans. Deposits and loans to Cyprus residents saw notable increases, particularly in household deposits and lending, while loans to non-financial corporations slightly declined.
The Croatian National Bank has initiated a free facility to exchange Bulgarian lev into euro at a fixed rate of BGN 1.95583 per EUR 1, from 2 January to 2 March 2026, with a daily limit of BGN 2,000 per person at its Zagreb cash desk. Coins and non-legal tender banknotes are excluded, and proof of origin may be required for banknote exchanges.
The Indonesia Financial Services Authority (OJK) outlined its 2026 capital market priorities, emphasizing market integrity, liquidity, investor base expansion, and a credible carbon market ecosystem. Key initiatives include a framework for financial influencers, enhanced investor protection, collaboration with self-regulatory organizations to improve company quality, transparency, governance, enforcement actions, and green finance infrastructure development.
The Bank of Lithuania reported November 2025 data showing a rise in resident deposits and credit, with household deposits increasing by EUR 82.2 million and non-financial corporation deposits by EUR 149.3 million. Interest rates on new household loans rose to 5.44%, while corporate loan rates increased to 4.86%.
The Philippines Department of Finance announced that Finance Secretary Frederick D. Go has guided the Social Security System (SSS) on a proposed micro-loan program to expand short-term credit access for members, with loans ranging from PHP 1,000 to PHP 20,000 at an 8% annual interest rate. The SSS plans to partner with banks for digital loan delivery, targeting a pilot rollout in the first half of 2026.
The National Bank of the Republic of North Macedonia reported a rise in payment transactions for Q3 2025, with digital payment methods outpacing overall growth. Credit transfers increased by 7.0% in number and 15.3% in value, while electronic payments surged by 19.0% in number and 29.3% in value, with 71.8% executed via mobile apps. Card payments also grew, with a 9.9% increase in number and 12.4% in value.
The Federal Deposit Insurance Corporation released its monthly list of state nonmember banks evaluated for Community Reinvestment Act compliance, detailing October 2025 evaluation ratings. The Community Reinvestment Act mandates the FDIC to assess banks' credit provision to their communities, with results publicly disclosed as required by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
The Central Bank of Colombia issued an Operational and Services External Circular (DFV-56, Subject 98) concerning the Central Securities Depository, available as a PDF on its website.
The U.S. Securities and Exchange Commission issued a statement from Chairman Paul S. Atkins and Commissioners Hester M. Peirce and Mark T. Uyeda acknowledging Commissioner Caroline Crenshaw's departure after over a decade of service, commending her advocacy for the agency's mission and her broader public service.
The Financial Conduct Authority confirmed that its direction modifying the UK derivatives trading obligation (DTO) will remain effective until 30 June 2026, allowing firms to trade on EU venues under specific conditions to mitigate disruption from conflicting EU and UK DTOs. A review will occur at the end of the period, with a new statement issued if the direction continues.
The Securities and Exchange Commission of Pakistan approved the prospectus for the Offer for Sale and initial public offering of Signature Residency REIT, comprising 8,250,000 units or 25% of the total. This Shariah-compliant REIT, managed by Arif Habib Dolmen REIT Management Limited, marks the fifth listing on the Pakistan Stock Exchange Main Board in FY 2025-26 and the second REIT scheme this year, amid regulatory revisions to streamline IPO processing.
The Bank of Spain released its monthly update on official reference rates for variable-rate mortgage loans, with the one-year Euribor averaging 2.267% in December 2025. The update includes other Euribor tenors, the five-year interest rate swap benchmark, and €STR-based compounded reference rates. The one-year Míbor remains applicable for pre-2000 contracts despite its removal from the list of official rates for new operations.
The Brazil Securities Commission (CVM) released its December 2025 activity roundup, unveiling the 2026 Regulatory Agenda and three resolutions impacting the FÁCIL regime and accounting standards per CPC Technical Pronouncement 51. The agenda includes new investment crowdfunding rules and amendments to CVM Resolution 175. CVM also issued warnings and sanctions, including fines exceeding BRL 11.25 million, and reported on Q3 2025 enforcement actions.
The Securities and Exchange Board of India issued a circular detailing the implementation of the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 2025, effective 3 January 2026. Key changes include increased net worth thresholds, a new liquid net worth metric, capped underwriting exposure, enhanced staff certification requirements, and stricter compliance and operational segregation mandates for merchant bankers.
The Monetary Authority of Singapore detailed enforcement actions from October to December 2025, including insider trading charges, prohibition orders, and the revocation of a Capital Markets Services Licence. Notable actions involved insider trading penalties against individuals and bans following criminal convictions, as well as the licence revocation of One Heritage Capital Management (SG) Pte Ltd for regulatory breaches.
The Securities and Exchange Board of India, with the Investor Education and Protection Fund Authority, announced the fifth "Niveshak Shivir" in Bengaluru on 3 January 2026, aimed at facilitating unpaid dividend transfers, assisting with KYC updates, and resolving pending IEPFA claims. The event will involve market infrastructure institutions and registrar and transfer agents, running from 10:00 to 16:00 at Sri Y Muniswaamappa Kalyaana Mantapa.
The Monetary Authority of Macao has refined its bond repurchase measures and introduced a specialised renminbi (RMB) foreign exchange swap programme to enhance local banks' access to MOP and RMB liquidity. This initiative follows the expansion of the RMB/MOP swap agreement with the People’s Bank of China to RMB 50 billion and includes an RMB Funds Facilitation Mechanism and new swap options for local banks.
The Central Bank of Chile reported a 1.2% annual increase in the Monthly Economic Activity Index (Imacec) for November 2025, with a 0.6% monthly decline in the seasonally adjusted series. Non-mining Imacec rose 1.7% year on year but fell 0.5% month on month, while trade expanded 5.5% annually, driven by automotive sales and retail gains. Services grew 1.9% annually, supported by personal services, despite a decline in transportation services.
The Hong Kong Monetary Authority alerted the public about scams with fake websites, banking login screens, and phishing messages targeting banks like The Bank of East Asia and Bank of China (Hong Kong). The HKMA stressed banks won't send transaction links or request sensitive info, advising affected individuals to contact their bank and report to the Hong Kong Police Force.
Austria's Ministry of Finance outlined 2026 finance-policy changes, focusing on anti-tax fraud measures expected to generate EUR 270 million, tax relief for overtime and public holiday work, and reforms for budget transparency and digital receipts. Key measures include removing VAT deductions for high-cost real estate, closing tax gaps on foreign contributions, and enhancing cryptoasset taxation.
The European Central Bank released an events and speeches update dated 2 January 2026, without additional details.
The Central Bank of Brunei Darussalam has updated its Alert List to include Qeefiya Enterprise, HK Shop Bn, VHS Top Enterprise, and Lelong Pajak Gadai Brunei, warning they are not licensed or regulated by the central bank. The bank advises consumers to engage only with BDCB-licensed financial institutions and avoid unlicensed providers, especially those resembling get-rich-quick or pyramid schemes.
The International Association of Insurance Supervisors has implemented a new committee-level structure effective 1 January 2026, establishing the Monitoring and Risk Assessment Committee, the Standards and Supervisory Practices Committee, and the Implementation Assessment Committee, each with specific oversight and leadership roles.
The British Virgin Islands Financial Services Commission issued updated guidance on filing beneficial ownership information under the Beneficial Ownership Secure Search System Act.
The Central Bank of The Bahamas has reappointed Mr. John A. Rolle as Governor for a two-year term starting 1 January 2026. Rolle has been Governor since 2016, with prior roles at the Central Bank, the International Monetary Fund, and as Financial Secretary in The Bahamas Ministry of Finance.
The Australian Prudential Regulation Authority (APRA) has released its Monthly Authorised Deposit-taking Institution Statistics for November 2025, now accessible on APRA’s website.
The Reserve Bank of India amended its 2025 Directions, requiring commercial banks to disclose balance sheet details on concentration risk management for deposits used as credit risk mitigation for non-centrally cleared derivative exposures. Effective from specific paragraphs of the 2025 Amendment Directions or 1 April 2026, it mandates disclosure of current and previous year amounts.
The Reserve Bank of India has revised prudential capital adequacy directions for non-banking financial companies, adjusting risk weights for loans to high-quality infrastructure projects based on repayment thresholds. The amendments, effective April 1, 2026, or earlier if adopted, allow NBFCs to maintain existing risk weights until March 31, 2027, if the revised directions would increase them.
The Reserve Bank of India has amended its 2025 concentration risk management framework for non-banking financial companies, defining criteria for infrastructure lending to be considered as lending to "high-quality infrastructure projects." These amendments, effective from April 1, 2026, or upon implementation of the 2026 Amendment Directions, specify operational, revenue, and lender protection requirements for qualifying projects.
The Reserve Bank of India mandates all Money Transfer Service Scheme Overseas Principals to submit the MTSS Business return via the Centralised Information Management System starting December 2025, with submissions due by the 7th of the following month, under the Payment and Settlement Systems Act, 2007.
The Reserve Bank of India has transitioned the White Label ATM Statistics return to its Centralised Information Management System, mandating operators to file from December 2025, with submissions due by the 7th of the following month. Non-compliance with this directive, issued under the Payment and Settlement Systems Act, 2007, may result in penalties.
The Reserve Bank of India mandates all Prepaid Payment Instrument issuers to submit monthly and quarterly returns via its Centralised Information Management System starting December 2025, with specific due dates in January 2026. This directive, under the Payment and Settlement Systems Act, 2007, warns of penalties for non-compliance.
The National Bank of Angola announced that credit to the economy in national currency rose to AOA 7.2 trillion in November, marking a 21.1% increase from the previous year.
The National Bank of Ukraine's December 2025 Business Outlook Survey indicates restrained business expectations, with the composite business activity expectations index slightly decreasing to 49.2, remaining below the neutral 50 level. Key challenges include security issues, power outages, and cost pressures, while trade remains optimistic with an index of 52.2, and the survey covered 603 companies from 4–23 December 2025.
The European Central Bank (ECB) announced Bulgaria's accession as the 21st euro area member, with euro banknotes and coins now in circulation and the Bulgarian National Bank joining the Eurosystem. This includes the Governor's seat on the ECB's Governing Council, participation in the Single Supervisory Mechanism, and integration into the Eurosystem's TARGET services, with the ECB directly supervising significant Bulgarian institutions.
The Central Bank of Lesotho warned against four named illegal investment platforms and similar operations that promise high returns or falsely claim central bank authorization. Consumers should verify a provider’s current license directly with the central bank before investing or using its services.
The Central Bank of Lesotho warned against unlicensed investment platforms that solicit deposits or promise unusually high returns, with some falsely claiming central bank authorization. It named four schemes and urged investors to verify licenses before committing funds.
The Tanzania Insurance Regulatory Authority plans to enhance supervision of health insurance in the Tanga region to address service delivery challenges and ensure compliance with the universal health insurance law, as outlined by Dr. Emmanuel C. Lupilya during a regional meeting.
The Tanzania Insurance Regulatory Authority issued a brief New Year greeting message for 2026.
Cyprus Finance Minister Makis Keravnos will attend the Eurogroup meeting on 19 January 2026 and chair the ECOFIN meeting on 20 January in Brussels. The Eurogroup will discuss Bulgaria's euro adoption, euro area economic policy priorities, G7 finance meetings, France's 2026 presidency, and ECB Vice-President nominations. ECOFIN will address the Cyprus Presidency work programme, the economic impact of Russia's invasion of Ukraine, revised Recovery and Resilience Plans, the 2026 Alert Mechanism Report, and an excessive deficit procedure for Finland.
The Federal Reserve Bank of Kansas City announced director election results and appointments for its head office and branch boards, effective 1 January 2026. Key appointments include John J. Coyne III and Navin Dimond at the head office, with Jandel Allen-Davis designated as chair, and various reappointments and new designations at the Denver, Oklahoma City, and Omaha branches.
The Central Bank of Colombia released Operational and Services External Circular DFV-102 Subject 8, detailing that service fees from its Fiduciary and Securities Department are determined by the bank’s Administrative Council and listed in the Subject 08 fee schedule.
The Central Bank of Colombia reminded compensation account holders that the Informe de Movimientos for December 2025 operations can be submitted via the Sistema de Información Cambiaria until 2 February 2026, with deadlines adjusted if the last day of the month is not a business day. Stakeholders are encouraged to subscribe to the “Exchange Regime” mailing list for updates and training.
The Central Bank of Colombia released a working paper developing national and regional economic sentiment and uncertainty indices using text mining of economic news, which serve as near real-time signals for short-term macroeconomic analysis. These indices, constructed from digital media, show significant relationships with monthly macro variables and improve real-time predictions when used in forecasting models.
A European Central Bank working paper by Reiner Martin and co-authors evaluates public Asset Management Companies (AMCs) in financial-crisis support by purchasing delinquent loans. Using euro area data, the study suggests well-designed AMCs enhance bank lending and macroeconomic outcomes, with welfare gains of 0.2% to 0.5% of steady-state consumption. The paper highlights examples from Ireland, Slovenia, and Spain, where AMCs significantly impacted GDP.
The Intergovernmental Action Group against Money Laundering in West Africa has opened a call for a national individual consultant to conduct the mid-term evaluation of its 2023-2027 Strategic Plan. The review will assess delivery against objectives and KPIs, test the effectiveness of implementation and recommend adjustments for the remaining period. The assignment is expected to be completed by 31 March 2026, with applications due by 02 February 2026.
GIABA issued revised procedures for its second round AML/CFT mutual evaluations of member states. The framework sets the timetable and review steps from pre-on-site submissions through plenary adoption and publication. It also makes regular biennial follow-up the default while reserving annual enhanced follow-up for countries with specified technical compliance or effectiveness weaknesses.
The Inter-Governmental Action Group against Money Laundering in West Africa has issued revised procedures for its third round of AML/CFT/CPF mutual evaluations and follow-up. The framework sets risk-based rules for assessments, limits technical compliance reviews to changed areas, and defines thresholds for enhanced follow-up and FATF ICRG referral. It also expects members to address key recommended actions within three years and allows escalation if progress is insufficient.
The Inter Governmental Action Group against Money Laundering in West Africa has issued a guide governing how technical assistance information is shared within GIABA and with recipients, donors, other providers and the public. It makes basic information on technical assistance and project administration generally shareable, while treating underlying working material and final advice as confidential and subject to recipient consent, management approval and classification rules. The guidelines took effect on November 21, 2025.
GIABA has issued a 2026 strategy updating how it provides and coordinates AML, CFT and proliferation financing technical assistance. The framework ties support more closely to third round mutual evaluations, uses risk based prioritization, and defines the main delivery tools, eligibility rules and exclusions. It also formalizes governance, donor coordination and results-based monitoring.
GIABA has published Mali’s sixth enhanced follow-up report, upgrading 13 FATF technical compliance recommendations and leaving Recommendation 14 on money or value transfer services at Partially Compliant. The report says Mali has now exited enhanced follow-up, with three remaining Non-Compliant or Partially Compliant ratings and none of them a key recommendation. Mali will next prepare for an on-site visit in its third round mutual evaluation.
GIABA’s fourth enhanced follow-up report for Niger finds enough progress on technical compliance to upgrade five FATF recommendations. Recommendation 14 was raised to Compliant, while Recommendations 8, 10, 12 and 19 were raised to Largely Compliant. Niger remains under enhanced follow-up, with its next report expected in November 2026.
The Intergovernmental Action Group Against Money Laundering in West Africa has opened recruitment for eight permanent positions in Abidjan and Dakar, with applications due by 28 February 2026. The roles span AML/CFT policy, evaluation and research functions as well as administration, protocol, interpretation, human resources and documentation support. Applicants must be ECOWAS nationals, and some General Service posts are subject to local recruitment rules.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has amended its Manual of Regulations for Non-Bank Financial Institutions to introduce an annual supervision fee for NBFIs with trust authority, effective 15 days post-publication. The fee, calculated as 1/28 of 1% of average assessable assets, is due by 31 May each year, with non-payment potentially leading to sanctions. The circular clarifies these fees are tax-exempt for the BSP.
CAPSA released procedures to implement the 2020 Agreement on Multi-jurisdictional Pension Plans, amended in 2023. These outline how member authorities will coordinate supervision and communication between major and minor authorities, covering decision-making, dispute resolution, and information sharing. Effective 1 January 2026, they ensure consistent application of key provisions across jurisdictions.
Jordan Securities Commission chair Imad Abu Haltam and the board met with the Czech Republic’s ambassador and Volterra’s regional director to discuss cooperation on digital transformation and cybersecurity projects, aiming to support a secure investment technology environment amid the implementation of the virtual assets trading system.
The Central Bank of Nepal's Financial Information Unit released the "Strategic Analysis Report, 2025 on Virtual Assets," highlighting money laundering and terrorist financing risks linked to virtual assets, which remain illegal in Nepal. The report identifies criminal activities associated with virtual assets and recommends enhancing supervision, inter-agency coordination, and public awareness to address these challenges.
The National Bank of Ukraine has removed the Bulgarian lev from its official hryvnia exchange rate list, effective 2 January 2026, due to Bulgaria's accession to the euro area on 1 January 2026.
The Ukraine National Commission on Securities and Stock Market issued a New Year greeting, expressing wishes for peace, confidence, and good news in 2026, while acknowledging upcoming challenges and opportunities.
BaFin issued a time-limited order allowing certain cooperative banks to classify new member shares as Common Equity Tier 1 (CET1) and pre-approve repayments of CET1-eligible shares, provided they meet specific Capital Requirements Regulation criteria. This measure, effective until 31 December 2026, requires compliance with risk-based and leverage ratio requirements, and mandates reporting to BaFin and the Deutsche Bundesbank.
The European Central Bank issued a notice with only the date "1 January 2026" and no additional details.
The European Central Bank released a document for Eurosystem counterparties detailing the mobilisation, management, and return of eligible assets as collateral for credit operations. It outlines the Collateral Management Guideline framework and the Eurosystem Collateral Management System's role, covering mobilisation channels, non-marketable collateral procedures, operational parameters, and settlement discipline measures, including specific cut-off times and cross-border credit claim requirements.
The European Central Bank announced Bulgaria's adoption of the euro, making it the 21st euro area Member State, with the Bulgarian National Bank joining the Eurosystem and the Single Supervisory Mechanism. The ECB will supervise significant Bulgarian institutions, and Bulgaria will participate in ECB operations and TARGET services, following the official conversion rate set in July.
The Central Bank of Peru reported that inflation in Metropolitan Lima ended 2025 at 1.5%, the lowest in eight years and within the target range, marking Peru as having the lowest inflation rate in the region. The bank expects inflation to be 2% in 2026 and 2027, contingent on stable economic conditions and dissipating supply shocks.
The Central Bank of Bolivia announced that the quantitative targets from the Second Review of the 2025 Fiscal-Financial Program are within established limits, with monitoring now publicly accessible. Signed on 25 November 2025, the review tightened monetary policy and outlined a path for a more flexible foreign exchange regime to support balance of payments equilibrium and mitigate external shocks. The update expanded quantitative targets and introduced a robust management framework with monthly monitoring.
The Polish Financial Supervision Commission's Steering Committee of the National Working Group on Benchmark Reform recommended replacing WIBOR/WIBID benchmarks in PLN legacy portfolios for business clients with the POLSTR benchmark or the POLSTR Compound Index Family benchmarks.
The Angola Insurance Authority (ARSEG) released its main quarterly indicators for Q3 2025, now accessible on its website.
The Montenegro Capital Market Authority approved the prospectus for PRVA BANKA CRNE GORE's public offering of 3,000 subordinated bonds, each with a nominal value of EUR 1,000, totaling EUR 3,000,000. The issuance aligns with the bank's decision on issuing subordinated bonds.
The Montenegro Capital Market Authority has approved the prospectus for the public offering of 152,066 ordinary shares by the Institute for Physical Medicine, Rehabilitation and Rheumatology “Dr Simo Miloševic” A.D. Igalo, totaling EUR 23,560,634.64. The approval aligns with the issuer’s share issuance decision and was adopted at the Authority’s 163rd session on 29 December 2025.
The Montenegro Capital Market Authority has approved the trading of units in the Bluesmart Premium Equity Fund on the Montenegro market. Managed by Bluesmart Investments AD, the fund aims for long-term capital growth through investments in liquid equities. This approval seeks to enhance Montenegro investors' access to international investment products.
Indonesia's Financial Services Authority (OJK) met again with lenders to Dana Syariah Indonesia (DSI) to address repayment delays and review enforcement actions, including special supervision and account blocking. OJK instructed DSI's leadership to provide a clear repayment plan and imposed restrictions on business activities, banning new fundraising and financing, and limiting asset transfers and governance changes. This follows DSI's chief executive's previous commitment to a phased repayment plan and resolution strategy.
The Bank of Botswana announced enhancements to the clearing and settlement framework for Electronic Funds Transfers, mandating changes for all licensed commercial banks and the Bankers Association of Botswana. A fourth weekday settlement window will be added to the Botswana Interbank Settlement System, increasing daily cycles to four. Banks must credit beneficiaries' accounts immediately after each cycle or within 60 minutes of settlement confirmation.
Tanzania's Ministry of Finance directed TIB Development Bank to enhance its operating systems and refocus on its founding objectives to support the National Development Vision 2050. The bank must address financial issues, improve debt recovery, and implement governance reforms, with a strategy due within 12 months. TIB plans to invest over TZS 5 trillion in job creation, agricultural projects, and financial sector reforms over the next 25 years.
Saudi Arabia's Capital Markets Authority approved Dar Albalad For Business Solutions Company's application to register and offer 21,000,000 shares, representing 30% of its share capital. The prospectus will be published before the subscription period, detailing financial statements, business activities, and management. The approval is valid for six months and is not a recommendation to subscribe.
The Saudi Arabia Capital Market Authority (CMA) approved Mutlaq Al-Ghowairi Contracting Company's application to register and offer 240 million shares, representing 30% of its share capital. The prospectus will be published before the subscription period, detailing necessary investment information. CMA approval confirms compliance with legal requirements but is not a subscription recommendation.
The Saudi Arabia Capital Markets Authority approved Kesay Clinics Company's application to register and offer 2,000,000 shares, representing 5% of its share capital, in the Parallel Market, limited to Qualified Investors. The approval is valid for six months, contingent on completion of the offering and listing within this period.
The Saudi Arabia Capital Markets Authority confirmed that Alfanar United Capital Company has fulfilled the requirements to commence its Managing Investments activity under its securities business licence, approved on 5 May 2025.
The Saudi Arabia Capital Markets Authority approved Emkan Finance Company’s application to register and publicly offer debt instruments under a programme valued at SAR 5 billion. The prospectus, to be published before the subscription period, will include financial statements, management details, and risk factors. The approval is valid for six months and is not a subscription recommendation.
Governor Natia Turnava's year-end review of the National Bank of Georgia outlines 2025 policy actions, including monetary policy tightening to stabilize prices and reduce inflation. Key developments include scenario-based monetary policy communication, a foreign exchange policy targeting over USD 6 billion in reserves, and progress in larization and de-dollarization. Legislative changes enhance financial consumer protection and market oversight, with advancements in virtual asset supervision, payment competition, and capital markets, alongside an RTGS upgrade and instant payment system launch planned for 2026.
The National Bank of Georgia amended the Regulation on the Calculation of TIBR Indices, enhancing the Tbilisi Interbank Rate (TIBR) methodology for improved accuracy and timeliness. The updated approach uses 80% of transaction volumes, replacing the previous 70% transaction count method, and refines contingency arrangements. These changes were developed with input from money market participants and European Bank for Reconstruction and Development Treasury specialists.
The National Bank of the Republic of North Macedonia, led by Governor Trajko Slaveski, outlined an optimistic 2026 economic outlook, emphasizing growth driven by infrastructure investments and private consumption. The central bank will focus on maintaining currency stability and controlling inflation. However, risks remain due to global geopolitical uncertainties, including the war in Ukraine and EU-China relations.
The National Credit Union Administration issued Orders of Prohibition against Rita Hartman, Teresa Margiotta, and Evelyn Bittar, permanently barring them from participating in any federally insured depository institution. Each individual consented to the orders to settle claims by the National Credit Union Administration Board. These orders prevent future employment in such institutions and are part of the agency's broader enforcement measures.