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Tag Archives: virtual banks

Posted in Policy & Regulation Mark Parsons

HKMA reboots virtual banking

On 6 February, 2018, the Hong Kong Monetary Authority (the “HKMA”) published draft revisions to its “Guideline on Authorization of Virtual Banks” (the “Draft Guideline”).

The framework will support the authorization in Hong Kong of ‘virtual banks’, defined as banks which deliver retail banking services primarily, if not entirely, through the internet or other electronic channels … Continue Reading