Asia
Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation
Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.
The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single āelectronic walletā and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.
Irina Davidenko, a spokesperson for Kazakhstanās payments industry, commented: āThe proposed legislation would be a step backwards for Kazakhstan, harming competition in the countryās vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than whatās right for industries and consumers.ā
The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.
The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.
The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.
Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.
Opponents further contend that the regulation could cause āsignificant economic damageā. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.
The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.
Ilya Efimenko, commercial director of the payment organisation PayDala, said: āI appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.
āThis is a re-emergence of the āBetting Accounting Centerā (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of āOld Kazakhstan.ā
āBefore our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.ā
Asia
NODWIN Gaming Appoints Atin Suri as the Global Head of Experiential Marketing
NODWIN Gaming, a leader in new-age youth entertainment, gaming, and esports, has announced the appointment of Atin Suri as Global Head of Experiential Marketing. With a track record of delivering disruptive, immersive brand experiences across diverse markets, Atin brings a wealth of expertise to help further NODWIN Gamingās mission to engage and excite audiences across all ages, worldwide.
Atin will be responsible for leading NODWIN Gamingās worldwide expansion efforts in experiential marketing and continued growth while handling the companyās white-label events and activations. His ability to formulate marketing strategies and well-crafted market messaging for a global audience ties in seamlessly with NODWIN Gamingās vision as the company continues to expand its footprint in the industry and deepen its engagement with audiences.
A key focus for NODWIN Gaming is providing holistic entertainment to the global youth with its diverse range of intellectual properties that spans esports, gaming, pop culture, music, and comedy. Atinās extensive expertise in crafting bespoke and immersive on-ground experiences will be key in enhancing consumer experience and brand recall.
āFor me, experience is everything, and Iāve always wanted to push the envelope when it comes to the intersection of technology and immersive experiences,ā said Atin. āAt NODWIN Gaming, I see endless opportunities when it comes to experiential marketing especially when the company is expanding further towards youth-focused experiences across the world.ā
Before joining NODWIN, Atin founded The Experiential Hub, a disruptive agency known for crafting innovative brand events and activations. His experience as a pioneer in experiential marketing includes leading several landmark campaigns.
A decade ago, Atin recognised the untapped potential of esports in India, a foresight that led to his successful collaboration with Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming. Together, they worked on Dew Arena and made it Indiaās Largest Offline Gaming Championship.
Building on this partnership, they went on to bring DreamHack, the worldās largest gaming festival to India. This groundbreaking project won the award for Best Intellectual Property at the prestigious WOW Awards Asia 2019. Atin also played a pivotal role in organising major esports events with the NODWIN Gaming team in India including ESL One, PUBG Club Open, PMPL South Asia and many more.
āWe are thrilled to welcome Atin to NODWIN Gamingā commented Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming. āHaving worked with Atin on previous projects, we have always admired his ability to bring fresh and bold ideas to the table. His passion for tech-driven, experiential events makes him the perfect fit for our vision of creating unforgettable gaming experiences globally.ā
Atin has also been the recipient of multiple honours like the JWT HiP Club Rising Star, the CEO Award from PepsiCo, and the Tech India Award.
Asia
FBM Foundation organizes a Breast Cancer Awareness Program to encourage prevention practices
Educating and empowering female volunteers on the importance of Breast Cancer early detection and prevention was the main purpose of the Breast Cancer Awareness Program that the FBM Foundation held last October 17th at the One Corporate Centre Building in Pasig City. The initiative prepared by the Corporate Social Responsibility project of the FBM Group gathered 48 women.
The Breast Cancer Awareness Program reflects the FBM Foundation’s ongoing commitment to health awareness and community well-being. Dr. Alodee Mejia, a breast cancer care expert from Asian Hospital and Medical Center, served as the guest speaker, offering essential insights on early detection, self-examinations, and the latest treatment and preventive measures.
āBreast cancer touches many lives, and raising awareness is crucial. It is not just about knowing it exists; it’s about understanding how to act. With expert guidance, we can offer our volunteers the proper knowledge to make a difference in the fight against this health issue,” said Lulu Barreras, FBM Foundation Project Coordinator in the Philippines.
Breast cancer is one of the most common types of cancer worldwide, and early detection can significantly increase survival rates. Regular self-examinations and screenings are essential for catching the disease in its early stages. It is important to remember that breast cancer does not only affect women. Men are also at risk, and being informed and vigilant is a big step forward to save lives.
By hosting this program, the FBM Foundation emphasized its dedication to promoting health, encouraging proactive measures, and supporting the well-being of its volunteers. This program was not only an opportunity to share knowledge but also to inspire action. As the volunteers are now better equipped, they are more likely to engage in conversations with their families, friends, and communities, spreading awareness about breast cancer and the importance of early detection. The FBM Foundation hopes this ripple effect will extend far beyond the conference room, creating a visible change in the community.
Raising awareness about critical health issues such as breast cancer reflects a deeper commitment from companies to help society. Through the organization of awareness initiatives like this program, businesses can contribute to having more informed employees and volunteers and have an active role in public health efforts.
Asia
Esports Makes Historic Debut at Tamil Nadu Government’s Chief Ministerās Trophy Games 2024
In a landmark move for Indian esports, the Tamil Nadu government has announced the inclusion of esports as a demo event in the prestigious Tamil Nadu Chief Ministerās Trophy Games 2024. The Sports Development Authority of Tamil Nadu (SDAT) has incorporated Skyesports as the Principal Technical Partner along with Esports Association of Tamil Nadu and Thamizh Esports Association to launch the initiative.
The Tamil Nadu Chief Ministerās Trophy Games is a flagship sports initiative aimed at promoting and nurturing grassroots talent across various sports. The inclusion of esports reflects the Tamil Nadu Governmentās commitment to embracing the evolving trend in sports on the back of the inclusion of esports in the Asian Games, and the announcement by the International Olympic Committee (IOC) to introduce a standalone Olympic Esports Games in 2025.
āWe are thrilled to witness the debut of e-sports as a demo event at this yearās Chief Ministerās Trophy. This groundbreaking inclusion reflects Tamil Naduās forward-thinking approach to sports and youth engagement. Esports has rapidly grown in popularity around the globe and by introducing it in the Chief Minister’s Trophy as a demo sport, Tamil Nadu is taking a major step toward recognising and nurturing diverse athletic talents, both in traditional sports and emerging digital platforms,ā said the Additional Chief Secretary, Youth Welfare and Sports Development Department.
Eight Skill-Based Games to Be Part of The Esports Test Event In The Tamil Nadu CM Trophy 2025, Engaging More Than 1.5 Million Gamers
The eight games set to be a part of the Tamil Nadu CM Trophy are as follows:
āĀ Ā Ā Ā Ā Ā Battlegrounds Mobile India (BGMI)
āĀ Ā Ā Ā Ā Ā Pokemon UNITE
āĀ Ā Ā Ā Ā Ā Real Cricket 2024
āĀ Ā Ā Ā Ā Ā EA FC 2024
āĀ Ā Ā Ā Ā Ā NBA 2K25
āĀ Ā Ā Ā Ā Ā eChess
āĀ Ā Ā Ā Ā Ā Street Fighter 6
āĀ Ā Ā Ā Ā Ā F1 2024
The selected games span a diverse range of titles, catering to mobile, PC, and console gamers. Registrations are now open to all eligible gamers in Tamil Nadu .The competition kicks off with online qualifiers, where participants will vie for a spot in the grand finale. Skyesports along with Esports Association of Tamil Nadu and Thamizh Esports Association will manage the entire event, culminating in an exciting on-ground finale in Chennai on October 20, bringing together the top players from each category for a thrilling conclusion.
āEsports is already part of the Asian Games and will soon be getting a standalone event by the IOC. In line with these evolving trends, we are introducing esports as a test event this year, and plan to make it an official part of the Tamil Nadu CM Trophy in 2025,ā said the Member Secretary of Sports Development Authority of Tamil Nadu (SDAT).
The Tamil Nadu State Government aims to engage 1.5 million gamers and esports enthusiasts through participation and viewership. Additionally, it aims to bring an active participation of more than 100,000 gamers through the open-for-all qualifiers.
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