Hong Kongers have been promised a virtual banking revolution but they may have to wait a bit longer for it due to cyber-security concerns that could delay the awarding of new banking licenses.
Local regulators have been working to a first-quarter deadline but it could now go down to the wire, a person familiar with the process has told FinanceAsia. So it is now “entirely possible’’ that a final decision on the new licenses could roll over into the second quarter, the person said.
When asked specifically if there was a likelihood that the granting of the licenses could drag...
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