Kyrgyzstan’s Bakai Bank has received a restricted banking licence from the Hong Kong Monetary Authority (HKMA).
The licence allows the bank to open a branch in Hong Kong. It will serve companies and financial firms that do business between Central Asia and Asia-Pacific.
According to the HKMA, the licence took effect on 5 October 2026.
Hong Kong now has 17 restricted licence banks. Banks in this category may accept deposits of HK$500,000 or more.
Operating as Bakai Bank Hong Kong, the branch will offer trade, payments and treasury services.
Its focus will be on trade, investment and capital flows between Central Asia and Asia-Pacific under the Belt and Road Initiative.
Invest Hong Kong (InvestHK) supported the bank’s entry. The agency said Bakai Bank is the first lender from Central Asia to set up in Asia-Pacific.
“Hong Kong is Asia’s pre-eminent ‘super-connector’ – uniquely positioned to connect East and West, and to facilitate the cross-border financial activities that define our franchise,”
said Andreas Meletiou, Chief Executive of Bakai Bank Hong Kong.
“As more leading banks along the Belt and Road establish or grow their presence in Hong Kong, they serve as a beacon for Mainland enterprises expanding overseas and offshore investors exploring opportunities on the Chinese Mainland,”
said Alpha Lau, Director-General of Investment Promotion at InvestHK.
InvestHK secured the bank’s interest during a visit to the region, which included Kyrgyzstan.
Since then, it has advised the bank on licensing and regulation and introduced it to local partners.
Together with the bank, InvestHK will explore sustainable development funding and renminbi (RMB) financing in Hong Kong.
Featured image: Edited by Fintech News Hong Kong, based on image by Invest Hong Kong (Invest HK) via the Government of the Hong Kong Special Administrative Region.
