The Supreme Court of the British Indian Ocean Territory (BIOT) has ruled that asylum seekers were unlawfully detained on Diego Garcia for more than three years. The Court rejected the Commissioner's arguments that the restrictions were necessary for security reasons, finding instead that the confinement to a small camp constituted arbitrary detention. The judgement criticised the former Acting Commissioner for having "only a limited appreciation of the fundamental importance of liberty". Prior to the ruling, the UK Government had transferred most claimants to the UK. The Court will now proceed to assess damages for false imprisonment, marking a significant development in the treatment of asylum seekers in British overseas territories.

The (former) Department for Business, Innovation and Skills created in June 2009 following the merger of BERR and the Department for Innovation, Universities and Skills. On 14 July 2016 BIS was merged with DECC to form BEIS.

The Bank for International Settlements (BIS) Basel Committee has published a voluntary framework for disclosing climate-related financial risks, mandating that institutions provide both qualitative and quantitative information about their exposure to climate risks. Designed with sufficient flexibility to accommodate the evolving accuracy, consistency, and quality of climate-related data, the framework recognises that a comprehensive overview of banks' exposures may require multiple metrics. As implementation is voluntary, jurisdictions are invited to consider whether to incorporate the framework into their domestic regulatory systems. Additionally, the Committee has committed to monitoring relevant developments—including the adoption of other reporting frameworks and ongoing disclosure practices by internationally active banks—to assess whether revisions to the framework may be needed in the future.

The Bank for International Settlements’ (BIS) Committee on Payments and Market Infrastructures (CPMI) has announced further steps to promote the adoption and maintenance of harmonised ISO 20022 data requirements to enhance cross-border payments. These steps include establishing a panel of global ISO 20022 market practice groups in early 2025 to support the regular maintenance of the data requirements. The CPMI will maintain these harmonised data requirements at least until the end of 2027, as part of the G20 cross-border payments programme. The CPMI plans to convene the panel in 2025, with semi-annual meetings following the ISO 20022 standard maintenance process.

The Bank for International Settlements (BIS) Innovation Hub has announced the first six projects in its 2024 work programme. They focus on safety and security, green finance, and next generation financial infrastructures. Additional projects on advanced data analytics and tokenisation are also planned.

The BIS Innovation Hub (the Hub) has published its 2025-26 work programme, an update on its mission and recent activities. The Hub aims to foster international collaboration on innovative financial technology within the central banking community. Its mandate includes identifying critical technology trends, developing public goods to improve the global financial system, and serving as a network for central bank experts. As of early 2025, the Hub's portfolio includes 26 active projects and 31 completed projects since its inception in 2019, with 16 new projects initiated in 2024.

The Bank for International Settlements (BIS) and the South African Reserve Bank (SARB) have jointly launched the sixth edition of the G20 TechSprint. The initiative invites developers to deliver state-of-the-art technological solutions that enhance trust and integrity in global finance. The competition focuses on three areas: digital identity solutions that are verifiable and privacy-preserving; secure, consumer-consented systems for cross-border credit data portability; and robust measures to mitigate fraud and cyber risks that support fast payment systems. Developers are expected to register and submit their proposals by 20 June 2025, after which shortlisted teams will undergo an eight-week development period with guidance from national authorities and industry experts. An independent panel will select one winning solution per challenge in November 2025.

The Bank for International Settlements (BIS) together with the Bank of England (BoE), Bank of France, Bank of Italy, Deutsche Bundesbank and the European Central Bank (ECB)  has announced the successful demonstration of Project Meridian FX, which explored the interoperability of wholesale payment infrastructures for foreign exchange transactions using new technologies. The project employed distributed ledger technology to synchronise the settlement of FX transactions by ensuring that one leg of a transaction is executed only when its corresponding leg occurs, thereby addressing settlement, liquidity and credit risk. Developed in alignment with the objectives set out in the Group of 20 cross-border payments roadmap, the initiative integrated a synthetic version of the UK real-time gross settlement (RTGS) system with experimental interoperability solutions from the Bank of France, the Bank of Italy and Deutsche Bundesbank (DL3S, TIPS Hash-Link and the Trigger Solution respectively). The outcomes show that the synchronisation mechanism is both asset- and technology-agnostic, underscoring its potential application across various financial market operations.

The Bank for International Settlements (BIS) together with seven central banks (including the Bank of England) has announced plans to join forces with the private sector to create Project Agorá which explores ways in which tokenisation can enhance the functioning of the monetary system.

The Bank for International Settlements issues its feedback following an investigation into the potential transformative impact of artificial intelligence (AI) on the financial sector, focusing on operational efficiency, risk management, and customer experience in the banking and insurance markets. The paper canvasses the wide-spread adoption of AI technologies while highlighting the associated risks, regulatory implications and specific regulatory areas that require enhanced AI-specific review.

The Bank for International Settlements (BIS) has launched its Project AISE (Artificial Intelligence Supervisory Enhancer) to create an AI-driven toolkit designed to assist financial supervisors in navigating the complexities of regulatory oversight. With the rapid growth of fintech, regulators face increased demands due to a larger supervised base and evolving regulations. Project AISE aims to enhance supervision, research, and decision-making through AI technology. Additionally, it supports the training of new supervisors by sharing best practices, addressing the challenges posed by fintech growth, and improving overall regulatory processes.

The Bank for International Settlements (BIS) has launched Project Aperta to explore how to reduce frictions and costs in global finance by enabling seamless cross-border data portability. The project aims to connect domestic open finance infrastructures of different jurisdictions, with the initial use case being trade finance for small and medium-sized enterprises (SMEs).