Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said the licence followed a bilateral arrangement between the central bank and the China Banking Regulatory Commission earlier this year.
The licence is part of a limited number of banking licences that Malaysia may issue from time to time under a bilateral arrangement.
"It is separate from the new commercial banking licences that will be issued under the liberalisation initiative announced on April 7," Zeti said yesterday in Kuala Lumpur.
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