IoM digital bank CIB secures banking licence

Pedro Gonçalves
clock • 2 min read

Digital bank CIB, part of investment platform Capital International Group, has been given a provisional banking licence to operate in the Isle of Man by the local regulator. CIB Limited has been awarded a provisional class 1(2) banking licence. The licence is the first class 1(2) to be issued on the Isle of Man under the Alternative Banking Regime,the group said in a statement. Under the provisional licence given by The Isle of Man Financial Services Authority (IoMFSA) , the bank has a 12 month period under the framework to move to an unconditional licence at which point it will be ab...

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