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HK Banks Association to Enhance Role in Member Service
The Hong Kong Association of Banks (HKAB) will take a more proactive role in promoting member banks' interests through active representation of members' views on all industry-related issues, said Peter Wong, chairman of the HKAB, here Tuesday.
After full deregulation of interest rates on July 3, 2001, the HKAB will work harder in the development of the Code of Banking Practice by initiating reviews and improvements, taking into consideration the views of the Hong Kong Monetary Authority and other stakeholders, he added.
At a press briefing, Wong said plans are underway to establish more formal and frequent working links between the HKAB and other international banking associations to facilitate sharing of views, especially with such associations in the mainland.
In anticipation of the HKAB broadening its deliverables after July 3, the HKAB commissioned KPMG to undertake a study on its future role.
In its enhanced role, Wong said the HKAB will continue to improve member services to ensure that the interests of all member banks across the board are catered for.
To champion the work of the HKAB in the fully deregulated environment and its expanded role, its was recommended that the resources of the existing secretariat be enhanced.
A secretary general with an enhanced profile will be nominated to provide credible representation to the market, and the secretary general will also be active in assisting the chairman to lobby on industry issues, Wong said.
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