Canadians’ Awareness Of Open Banking Is Low – But Does It Matter?

The results are in: Canadians’ understanding of open banking is low, according to the Financial Consumer Agency of Canada (“FCAC”). On June 1, 2023, the FCAC released the results of its 2022 survey of Canadians’ awareness and understanding of open banking and financial technology (“FinTech”) services. The survey was conducted between May and June of 2022 as part of FCAC’s mandate to evaluate trends and emerging issues in finance that impact consumers. The survey also fits […]

By | August 1st, 2023 ||

Asia: Victory In Islamic Banking Dispute Amounting To RM38 Million

Our Legal Associates, Sharanya Visualingam and Aida Liyana Zainal Rashid together with our pupil-in-chambers, Siti Sarah Kamaruzzaman had on 31.05.2023, acted for Small Medium Enterprise Development Bank Malaysia Berhad (“the Plaintiff”) in an Islamic Banking matter and succeeded in a Summary Judgment Application and Striking Out of the Defendant’s Counterclaim Application (“the Applications”).

Parties had entered into a Commodity Murabahah Term Financing-i (CMTF-i) Facility totaling a sum of RM27,041,704.59 (“Murabahah Financing Facility”). However, the Defendant had failed to comply […]

By | July 27th, 2023 ||

Ireland: Central Bank Discussion Paper On A Macroprudential Policy For Investment Funds

On 18 July 2023, the Central Bank of Ireland (the “Central Bank”) published its latest discussion paper entitled “An approach to macroprudential policy for investment funds” (the “Paper”). The purpose of this Paper is to advance the debate on a potential future approach to the development and operationalisation of a macroprudential framework for the investment funds sector.

In recent years, financial regulators worldwide have increased their focus on the risks posed to the financial system by the […]

By | July 22nd, 2023 ||