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Stephenson Harwood says it advised Bakai Bank on its Hong Kong expansion
Stephenson Harwood said it advised Bakai Bank on establishing a Hong Kong branch and its restricted-license bank application. The firm described the project as the first overseas expansion by a bank from the Kyrgyz Republic and said its work covered licensing, structuring, governance and compliance.
Key points
- The firm said Katherine Liu and James Wong comprised its advisory team.Stephenson Harwood
- Stephenson Harwood said the project involved a two-year process.Stephenson Harwood
- The firm said Bakai’s registration as the first Kyrgyz company in Hong Kong remains subject to Companies Registry approval.Stephenson Harwood
- Stephenson Harwood said a memorandum between Hong Kong’s and Kyrgyzstan’s banking authorities is expected in the coming weeks.Stephenson Harwood