BANK Negara’s announcement this week which stated that it is looking to issue up to three virtual banking licences has excited the local financial sector which otherwise has begun to look a little lethargic.
The announcement comes at the same time as Hong Kong’s move to issue three licences of this type to a combination of companies partnering finance firms, namely Standard Chartered, BOC Hong Kong Holdings Ltd and online insurance company ZhongAn Online P&C Insurance Co.
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