Granting of restricted banking licence to Mashreq Bank - Public Shareholding Company (also known as Mashreqbank psc)

Press Releases

16 Dec 2003

Granting of restricted banking licence to Mashreq Bank - Public Shareholding Company (also known as Mashreqbank psc)

The Hong Kong Monetary Authority announced today (16 December) that the Monetary Authority has granted a restricted banking licence to Mashreq Bank - Public Shareholding Company, also known as Mashreqbank psc (MB), under the Banking Ordinance. This grant of restricted banking licence took effect on 15 December 2003.

Incorporated in United Arab Emirates, MB has maintained a local representative office and a wholly owned deposit taking company, Mashreq Asia Limited, in Hong Kong since 1978.

After the granting of a restricted banking licence to MB, the number of restricted licence banks in Hong Kong has increased to 42.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Kevin Ip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
16 December 2003

Latest Press Releases
Last revision date : 16 December 2003