Lower entry barriers for overseas banks in New Zealand, parliamentary report says

( August 22, 2025, 07:29 GMT | Official Statement) -- MLex Summary: The Reserve Bank of New Zealand should consider lowering barriers for overseas banks and financial technology companies to create competition, a parliamentary committee has recommended. In a banking competition inquiry report published today, the Finance and Expenditure Committee said that many submitters pointed to New Zealand’s regulatory environment as the main barrier to entry and expansion for smaller banks and fintech companies. In a statement, New Zealand Finance Minister Nicola Willis said the government will review the report and its recommendations and will provide a response by November 2025.The full statement by New Zealand Finance Minister Nicola Willis follows; the Finance and Expenditure Committee’s report is attached:...

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Lower entry barriers for overseas banks in New Zealand, parliamentary report says

Prepare for tomorrow’s regulatory change, today

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