Guideline on Authorization of Digital Banks

Issued by the Hong Kong Monetary Authority (HKMA), this official regulatory guideline sets out the principles and criteria that the HKMA applies when considering applications for the authorization of virtual banks under the Banking Ordinance. It outlines key supervisory requirements regarding ownership, governance, risk management frameworks, technology risk controls, outsourcing arrangements, financial inclusion commitments, and minimum capital requirements. Designed for banking practitioners, fintech entrepreneurs, legal counsel, regulatory compliance officers, and students of financial law and banking regulation in Hong Kong, this document provides the definitive regulatory baseline for digital banking operations.