NatWest CEO Paul Thwaite Warns Against Bank Tax Hikes Amidst 30% Profit Surge
NatWest Group's Chief Executive, Paul Thwaite, has cautioned the UK government against increasing taxes on banks, emphasizing the need for stability and growth. His warning follows the bank's robust third-quarter performance, which saw pre-tax operating profits jump by 30.4% to £2.18 billion, significantly exceeding analyst expectations. The comments come ahead of the Chancellor's autumn budget, where potential tax increases on the banking sector are under consideration.
Turkish Parliament to Grant Financial Crimes Unit Power to Instantly Freeze Accounts
Turkey's Parliament is set to empower the Financial Crimes Investigation Board (MASAK) with the authority to instantly freeze bank and cryptocurrency accounts linked to suspicious transactions. This move, part of the 11th Judicial Reform Package, aims to combat money laundering, cyber-fraud, and illicit crypto activities, aligning with FATF recommendations.
Banks and Stock Markets Closed Across India for Balipratipada and Vikram Samvant New Year
Banks nationwide and major stock exchanges, BSE and NSE, are observing a holiday on October 22, 2025, for Balipratipada. This significant Hindu festival, also known as Bali Pratipada or Vikram Samvant New Year Day in some regions, marks the fourth day of Diwali celebrations.
South Africa's Gambling Regulator Targets Influencers in Advertising Crackdown
South Africa's National Gambling Board (NGB) is intensifying efforts to curb gambling advertising, specifically targeting influencers promoting betting to younger audiences. Acting CEO Lungile Dukwana highlighted the protection of minors and vulnerable populations as a 'number one' priority amidst a surge in online gambling.
Argentina's Central Bank Faces Scrutiny Over Undisclosed Gold Reserve Movements
Argentina's Central Bank faces intense scrutiny from the National Audit Office over the undisclosed whereabouts of the nation's gold reserves, reportedly shipped to London in June 2024. Despite the Central Bank's confirmation of 'recalibration operations' for financial flexibility and potential returns, specific details on the gold's location, yields, and transportation costs remain withheld, prompting transparency concerns and potential legal and congressional actions.
Kuwaiti Banks Strengthen Global Ties at IMF and World Bank Annual Meetings in Washington
The Kuwait Banking Association hosted a high-profile reception in Washington, D.C., on October 18, 2025, during the IMF and World Bank Group Annual Meetings. The event, under the patronage of Central Bank Governor Basel Al-Haroun, brought together Kuwaiti and international financial leaders to discuss cooperation, economic developments, and global challenges.
Singapore Law Firm Initiates Claims Against Switzerland Over Credit Suisse AT1 Losses
Singapore's Drew & Napier is set to file investment treaty claims against the Swiss government on behalf of approximately 560 Asian bondholders. They seek around US$300 million in compensation for Credit Suisse AT1 bonds wiped out during the bank's 2023 acquisition by UBS, a move recently deemed unlawful by a Swiss court.
Japan to Implement Sweeping Ban on Crypto Insider Trading by 2026
Japan's Securities and Exchange Surveillance Commission (SESC) and Financial Services Agency (FSA) are set to introduce new regulations by 2026, explicitly banning insider trading of digital assets. This move aims to integrate cryptocurrencies under the Financial Instruments and Exchange Act, granting the SESC powers to investigate, fine, and prosecute offenders, thereby enhancing market fairness and investor protection.
Brazil's Pix Drives A2A Payments to Over 50% of All Transactions
Account-to-account (A2A) payments, primarily facilitated by Brazil's instant payment system Pix, now constitute over 50% of all transactions in the country. Launched in November 2020, Pix has rapidly transformed the financial landscape, boosting financial inclusion and significantly reducing reliance on traditional payment methods.
Anil Ambani Aide Ashok Kumar Pal Arrested in ₹68 Crore Money Laundering Case
Ashok Kumar Pal, Chief Financial Officer of Reliance Power and an aide to Anil Ambani, has been arrested by the Enforcement Directorate in a money laundering case. The arrest is linked to a fake bank guarantee of over ₹68 crore submitted to the Solar Energy Corporation of India, involving spoofed email domains and alleged fraudulent practices.
Supreme Court Upholds Lisa Cook's Fed Position, Sets January Hearing
The U.S. Supreme Court has allowed Federal Reserve Governor Lisa Cook to retain her position for now, declining President Donald Trump's immediate removal request. The high court will hear arguments in January 2026 regarding Trump's attempt to oust Cook, a move that challenges the central bank's independence.
Inaugural AML/CTF/CPF Conference Kicks Off in Port Moresby to Combat Financial Crime
Papua New Guinea's first Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing (AML/CTF/CPF) Conference commenced in Port Moresby. Co-organized by the Bank of Papua New Guinea and Transparency International PNG, the two-day event at APEC Haus aims to strengthen the nation's defense against financial crime and address FATF grey-listing concerns, emphasizing a 'whole of society' approach.
Dubai Regulator Bars HDFC Bank's DIFC Branch from Onboarding New Clients
The Dubai Financial Services Authority (DFSA) has restricted HDFC Bank's Dubai International Financial Centre (DIFC) branch from onboarding new clients and engaging in financial promotions, effective September 26, 2025. The move follows regulatory concerns over client onboarding practices and alleged financial services provided to un-onboarded customers. HDFC Bank states the impact on its overall operations is not material.
Ann-Katrin Kaufhold Unanimously Elected Vice President of Germany's Federal Constitutional Court
Ann-Katrin Kaufhold has been unanimously elected Vice President of the Federal Constitutional Court by the Bundesrat, a day after her election as a judge by the Bundestag. The professor of constitutional law will succeed Doris König, marking a significant appointment to Germany's highest court.
Finma Notes Progress in UBS Emergency Plan, Calls for Greater Flexibility Post-Credit Suisse Merger
Switzerland's financial regulator, Finma, acknowledged UBS's progress in its emergency plan following the Credit Suisse takeover, particularly in resolvability. However, Finma identified remaining issues, stating the plan needs better integration and legislative changes are required for authorities to have more resolution options.
Icelandic Government Concludes Íslandsbanki Privatisation with ISK 90.58 Billion Final Sale
The Icelandic government has completed its divestment from Íslandsbanki, selling its remaining 45.2% stake for approximately ISK 90.58 billion. This final transaction marks the end of state ownership in the bank, a process initiated after the 2008 financial crisis.
Italy to Impose Conditions on Potential Banco BPM-Credit Agricole Merger
Italy's Economy Minister Giancarlo Giorgetti announced the government will impose conditions, likely using 'golden powers,' on a potential merger between Banco BPM and Credit Agricole's Italian unit. The move aims to protect strategic national assets, particularly asset manager Anima Holding, amidst Banco BPM's search for a merger partner.
Dr. Anna Breman Appointed First Female Governor of Reserve Bank of New Zealand
Dr. Anna Breman has been named the new Governor of the Reserve Bank of New Zealand, making her the first woman and first foreigner to hold the prestigious role. She will commence her five-year term on December 1, 2025. Breman brings extensive experience from her previous role as First Deputy Governor of Sweden's Riksbank and a distinguished career in economics and finance.
Albania Initiates Implementation of Instant Payments System, Adopting TIPS Clone for Western Balkans
Albania's central bank has begun implementing a local version of the European Central Bank's TARGET Instant Payment Settlement (TIPS) system, known as TIPS Clone. This initiative aims to enable instant cross-border payments within the Western Balkans, fostering regional financial integration and aligning with EU standards. The system is expected to be operational by mid-2026.
Diamond Trust Bank Kenya to Divest 83.67% Stake in Burundi Subsidiary
Diamond Trust Bank Kenya (DTB Kenya) has announced plans to sell its 83.67% shareholding in its Burundi subsidiary, DTB Burundi, to a consortium of primarily Burundian investors. This strategic move, following 16 years of operation in Burundi, aims to refocus DTB on its core markets in Kenya, Uganda, and Tanzania. The transaction is subject to regulatory approvals.
