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The ordinance provides a framework for the Hong Kong Government to exchange views with the banking sector for the further development of the industry. Although banking licenses are granted by the Hong Kong Monetary Authority, licensed banks in Hong Kong are required to join the HKAB and are thus subject to HKAB's rules. Its members are the ...
University of Hong Kong (BSocSc) Director of the Office of the Exchange Fund Sir Hamish Macleod Sir Donald Tsang Antony Leung Henry Tang John Tsang: 2 Norman Chan Tak-lam, GBS, JP 陳德霖 (1954–) 1 October 2009 30 September 2019 10 years and 0 days Chinese University of Hong Kong (B.S.) Director of the Office of the Hong Kong Chief ...
In 2024, HSBC, as part of the Hong Kong Association of Banks, began developing a roadmap to phase out cheques in the city and switch to electronic payments. According to Hong Kong Interbank Clearing Limited, cheque transactions in Hong Kong fell to HK$488.6 billion (US$62.5 billion) in December, down 13 percent year-on-year. [119]
The Li family (Chinese: 李) are a banking dynasty in Hong Kong and associated with the Bank of East Asia, although its family members have held positions in various other businesses, as well as the Hong Kong Government, the Hong Kong Judiciary, and the Hong Kong Legislative Council. While the Li family spans many generations and has many ...
Tai Sang Bank Limited is a licensed privately owned bank based in Hong Kong. [2] The bank was established by Ma Kam-chan, a businessman from Kwangtung (now Guangdong), in 1937 after his family migrated to Hong Kong. Ma went on to serve as the chairman of the bank until he died in 1984. The bank is currently chaired by Patrick Ma Ching Hang. [3]
The Association was renamed the Hong Kong Stock Exchange in 1914. [citation needed] A second exchange, the Hong Kong Stockbrokers' Association was incorporated in 1921. The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and re-establish the stock market after the Second World War.
By 2018, the HKMA had begun the application process for a virtual banking license in Hong Kong, with the first deadline being 31 August 2018. [1] In response to this initiative, WeLab established WeLab Digital Limited on 21 August 2018, and submitted an application before the first deadline; William Leung was appointed in December 2018 to ...
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...