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HKMA grants license to Kyrgyzstan's Bakai Bank, the first Central Asian bank approved to operate in Hong Kong.
The Hong Kong Monetary Authority (HKMA) has granted a license to Bakai Bank of Kyrgyzstan, making it the first Central Asian bank approved to operate in Hong Kong. The bank will operate in Hong Kong as a restricted license bank, authorized to accept deposits of at least HKD 500,000 and conduct corporate and commercial banking business, but not retail operations.
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