Labuan grants China Construction Bank first digital bank approval

Labuan Financial Services Authority (Labuan FSA) has granted its approval for China Construction Bank Corporation Labuan Branch to conduct digital banking activities in the Labuan International Business and Financial Centre (Labuan IBFC). CCBL was the first to seciure Labuan FSA's digital bank approval, the two parties said in a joint statement. A core strategy of the China Construction Bank Corporation (CCB) Group is to build a digital financial ecosystem with the use of fintech to empower customers' access to their banking needs virtually via a comprehensive suite of wholesale and r...