BANKING SERVICES

BANGLADESH: Bank Processing of E-Commerce Pre-Payments Suspended

23 September 2021

Commercial banks have been ordered not to process advance payments for goods or services purchased via digital marketplace. More

hktdc research

Reforms to Trade and Investment Facilitation Promoted in Pilot Free Trade Zones

16 September 2021

The State Council recently issued new measures for advancing reform and innovation in relation to facilitating trade and investment in pilot free trade zones. These include expanding opening-up for investment from Hong Kong and Macao, advancing innovation in the import trade sector, and unleashing the potential of new forms of trade. More

venture hong kong

Hong Kong fintech prospects beckon Korea

16 September 2021

As financial technology (fintech) grows and matures, this creates fertile ground for cooperation between vibrant, tech-savvy economies such as Hong Kong and Korea. More

hktdc research

INDONESIA: Local Currency Settlement Framework Agreed with China

13 September 2021

In a joint move, the Bank of Indonesia (BI) and the People’s Bank of China (PBOC) have introduced a local currency settlement (LCS) framework. More

hktdc research

INDONESIA: Commercial Banks Approved to Offer Digital Banking Services

07 September 2021

Commercial banks are to be permitted to offer the same digital banking services as fintech companies under the terms of two new regulatory updates issued by the Indonesian Financial Authority Services (OJK) – 12/POJK.03/2021 on Commercial Banks (Reg 12) and 13/POJK.03/2021 on the Administration of Commercial Banks’ Activities (Reg 13) More

hktdc research

PAKISTAN: Cross-Border Commercial Payment Procedures Streamlined

26 August 2021

In a bid to simplify the cross-border commercial payment process, the State Bank of Pakistan (SBP) has amended a number of the provisions of the country’s Foreign Exchange Manual. More

hktdc research

UAE: Central Bank Issues New Licensing Rule for Payment Providers

29 July 2021

The Central Bank of the United Arab Emirates (CBUAE) has issued a new regulation for retail payment services and card schemes, adding to its recent introduction of three regulations intended to manage digital payments in the UAE. More

hktdc research

Shenzhen Begins Offshore Business Registration Service for Hong Kong, Macao Firms

14 July 2021

The Shenzhen Administration for Market Regulation recently issued a notice (Shen Shi Jian Tong Gao No. 63 [2021]) regarding the city-wide launch of its so-called Shenzhen-Hong Kong “easy connect, easy registration” and Shenzhen-Macao “easy connect, easy registration” policies on 28 June. More

hktdc research

China Lowers Bank Fees for Micro and Small Firms

06 July 2021

On 24 June, the People’s Bank of China and three other government agencies jointly issued a circular on fee cuts for micro and small firms and individually-owned businesses starting from 30 September 2021 (Yin Fa No. 169 [2021]). More

market spotlight

Cash is king in GBA

06 July 2021

Credit and talent are priorities for enterprises in the rapidly growing Guangdong-Hong Kong-Macao Greater Bay Area (GBA), according to a recent survey. More

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