HKMA Grants Restricted Banking Licence to ABN AMRO Clearing

The Hong Kong Monetary Authority (HKMA) restricted banking licence has been granted to ABN AMRO Clearing Bank N.V. (AACB), effective 29 August, under Hong Kong’s Banking Ordinance. AACB, incorporated in the Netherlands, is part of ABN AMRO Bank’s global clearing operations, which provide settlement and clearing services to exchanges, trading participants, and clearinghouses worldwide. The addition of AACB brings the number of restricted licence banks in Hong Kong to 16. Restricted banks can engage in banking business but face limitations, typically focusing on wholesale and capital markets activities instead of retail. The HKMA said the move highlights Hong Kong’s role as a global financial hub and its continued openness to international institutions.