I. Qatar Central Bank issues digital banking regulations
Ⅱ.BIS publishes report on ‘Progress and Key Challenges in AI Regulation in Finance’
III.HKMA and CBUAE deepen financial market co-operation between Hong Kong and UAE
IV. Google Cloud predicts generative AI will transform financial services in four ways
Qatar Central Bank (QCB) recently issued an exhaustive 35-page regulation. The regulation defines the core objectives of digital banking, operational regulatory details and the process of obtaining a licence. In a statement, QCB highlighted the great potential of digital banking to enhance financial inclusion and ease of access to financial services. With this release, Qatar intends to consolidate its position as a leader in the digital transformation of the financial sector.
(Source: mpaypass, December 11, 2024)
Recently, the Bank for International Settlements (BIS) published a special report on ‘Regulation of Artificial Intelligence in Finance: recent developments and key challenges’. The report explores the potentially transformative impact of Artificial Intelligence on the financial sector, focusing on operational efficiency, risk management and customer experience in the banking and insurance sectors.
(Source: weiyang, December 18, 2024)
The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (CBUAE) held the second bilateral meeting in Hong Kong on 20 December, further solidifying co-operation and connectivity between the financial services sectors of the two jurisdictions.A Memorandum of Understanding (MOU) was signed by Mr Eddie Yue, Chief Executive of the HKMA, and H.E. Khaled Mohamed Balama, Governor of the CBUAE, to strengthen and formalise the co-operation arrangements. Under the MOU, the two authorities have agreed to establish connectivity of the debt capital markets and the related financial market infrastructures between Hong Kong and the UAE with a view to facilitating cross-border debt securities issuance and investment activities.
(Source: HKMA, December 20, 2024)
Recently, Zac Maufe, Global Head of Regulatory Business at Google Cloud, said that the financial industry will see a major turning point in AI innovation next year. He believes that Generative Artificial Intelligence applications will give rise to four key application trends, including intuitive search, AI agents, multimodal AI, and sophisticated fraud protection technologies.
(Source: weiyang, December 19, 2024)
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Editor：Ms. Li Shuang, Development Dep. I of AFCA
E-mail：lishuang@afca-asia.org
Tel: +86-10-58018299
