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08.22.2017 #news

The SVF licensing regime in Hong Kong

The highlights of the regulatory requirements and how sia partners can help

By definition, Stored Value Facilities are means of payment which can be used for storing the value of an amount of money that is paid into the facility from time to time.  With the introduction of the Clearing and Settlement Systems (Amendment) Bill in 2015, institutions must now undergo a licensing application process administered by the Hong Kong Monetary Authority (HKMA) before launching a SVF business in Hong Kong. 

To learn more about the SVF licensing regime in Hong Kong click here