BI-Fast launched in December with an initial 21 entities; 21 additional banks and Indonesia's CSD have now also enrolled.
February 8, 2022BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.
December 24, 2021'BI-Fast' will enable real-time payments 24/7 for retail customers, and will also be used in cross-border payments in future.
November 11, 2021Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA's next chief.
February 22, 2019Years of prudent macroeconomic policies and robust financial regulation and supervision will help Hong Kong weather possible domestic and external shocks, the IMF says.
December 12, 2018Banks and stored value facility operators are asked to adopt a 'refined process' in setting up direct debit authorisations to top-up e-wallets following last week's fraud reports.
October 29, 2018Approximately HKD 180,000 was stolen from customers just three weeks after the launch of a service allowing automatic top-ups of e-wallets by direct debit from bank accounts.
October 26, 2018The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.
September 28, 2018Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.
April 20, 2018