Mastercard

Mastercard was prohibited in India for taking customer data overseas The Reserve Bank of India stated that US-based financial group Mastercard failed to comply with rules introduced in 2018 that bar payment companies from transferring customer data overseas. The regulations, which were fiercely resisted by US payment companies, required all financial data to be stored exclusively in India, according to Nikkei Asia . The central bank said Mastercard's failure to meet the requirements came "notwithstanding lapse of considerable time and adequate opportunities being given." The Indian central bank’s order followed its previous move in April against American Express – another US-headquartered payment corporation. However, Mastercard is a much bigger player in the Indian market, where many lenders offer cards using the US firm's payments network, Reuters reported. With American Express and Mastercard given the boot in India, Visa – another international payment provider – … [Read more...] about Mastercard to be banned in India for non-compliance with data storage rules

Although it is not possible to open all destinations, Vietnam’s tourism industry is building sandbox models to welcome vaccinated international guests, after being greenlit by the government to pilot such programmes at some tourist destinations. Piloting border reopening for fully vaccinated foreign travelers. On June 26, Prime Minister Pham Minh Chinh asked the Ministry of Health (MoH) and the Ministry of Culture, Sports and Tourism to quickly pilot the use of vaccine passports with international visitors for several tourist centres that promise to keep related risks at bay, such as Phu Quoc Island in Kien Giang province. The People’s Committee of Kien Giang immediately petitioned the MoH to allow the province to organise vaccination against COVID-19 for all local residents, backed by the central budget, local budget, and the lawful mobilisation of other sources. Chairman of Kien Giang People’s Committee, Lam Minh Thanh, explained that the province will propose to … [Read more...] about Piloting border reopening for fully vaccinated foreign travellers

Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said with the country having earned a top spot in the MasterCard-Crescent Rating Global Muslim Travel Index (GMTI) 2021 (Photo: The Star) Kuala Lumpur (VNA) - Malaysia again tops the Global Muslim Travel Index (GMTI) 2021 as the best destination for Muslim travellers even amid the COVID-19 pandemic. GMTI said in its 2021 report that as the pandemic wreaks havoc on the tourism industry, some destinations are said to have prepared for relaunch once the borders open. According to the report, these destinations have Muslim-friendly facilities and services, and have continued to raise stakeholder awareness in capacity building and destination marketing to overseas markets of Muslims even in times of pandemic. Malaysian Minister of Tourism , Arts and Culture Nancy Shukri said Malaysia is committed to continue developing the Muslim-friendly travel segment, sometimes referred to as halal travel. The minister also … [Read more...] about Malaysia retains top spot in Global Muslim Travel Index 2021

Illustration photo - source: taichinhkinhdoanh.net Last week, privately-held Vietnamese lender SeABank received a $40 million credit package from the International Finance Corporation (IFC) under the World Bank Group. This is the first phase of an up to $150 million financing package, which is slated to help SeABank expand its lending services to women-owned small- and medium-sized enterprises (WSMEs), boosting both climate finance and international trade opportunities. While the investment aims to increase SeABank’s SMEs lending portfolio, at least $20 million will be earmarked for WSMEs, with assistance from the Women Entrepreneurs Finance Initiative (We-Fi). With a strategy to expand its reach to WSMEs, IFC’s funding will help the bank triple its current WSME lending, accounting for about a quarter of its total SME portfolio by 2024. “IFC’s long-term financing and technical advice will enable SeABank to focus on two strategic segments, WSMEs and climate financing, and … [Read more...] about Banks lift women-led groups with financing options