FRH 7
4000091
H
|香港政府
GIS
新聞處
DAILY INFORMATION BULLETIN
Friday, October 27, 1972
BANKING LICENCE GRANTED TO BARCLAYS BANK
The Governor in Council has granted a licence to Barclays Bank
International Limited to set up a branch in Hong Kong.
It is the first to be granted since the general moratorium on the
issue of new licences came into effect in 1965.
A government spokesman explained today that while the moratorium
will continue,, an exception may be made, under certain circumstances, if
an application is received from a bank incorporated outside Hong Kong.
The application may be granted if one, or both, of the following
circumstances apply:-
(a) Hong Kong has a significant export market in the country
of incorporation of the applicant bank and there is at
present no licensed bank in Hong Kong incorporated in that country;
(b) in the opinion of the Government, the licensing of the
bank would add prestige and expand the facilities available
to the public through the banking industry in Hong Kong.
The spokesman emphasised that these circumstances were subject
in all cases to two conditions.
/Firstly
Issued by Government Information Services, Beaconsfield House, Hong Kong. Tel: 5-233191