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Area for Internet-only Bank

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With the aim to keep up with development trend of digitization and business opportunities, as well as to encourage fintech innovation and deepen financial inclusion, the FSC has taken the business model and practices of global internet-only banks for reference and has announced amendments to two decrees relating to internet-only banks establishment. The two Reguations, namely, Standards Governing the Establishment of Commercial Banks and Regulations Governing Investments in Other Enterprises by Commercial Banks took effect on November 16, 2018 and the FSC started to receive applications for setting up internet-only banks on the same date. The results will be announced upon completion of the review.
Visitor: 1039   Update: 2019-10-29