| Who sets Prime?
The Association does not set prime (also known as Best Lending
Rate (BLR)) because Section 12(1)(e) of the Hong Kong Association
of Banks Ordinance expressly excludes lending rates from its purview.
Prime is set by banks individually.
Is the Association an Ombudsman?
No, it does not handle disputes between member banks and customers,
although it takes an interest where the subject matter constitutes
an apparent breach of our Rules. Customers must resolve disputes
directly with the bank concerned. If customers are not satisfied
with the outcome, it remains open to them to complain to the Hong
Kong Monetary Authority on its 24-hour hotline on 2878 1378 for
matters relating to improper behaviour of debt collectors appointed
by authorised institutions, or in extreme cases to seek redress
through the courts.
Can we promote ourselves to banks through
the Association?
The Association, as a statutory body, does not supply speakers
to, or promote, private-sector events or sound out members' interest
in participation for the organisers. It is sometimes prepared to
support events organised by non-profit-making institutions by lending
its name to events and circulating details to its member banks.
It will usually be prepared to supply a list of its member banks,
their addresses and fax numbers, but without personal contact details.
Is the Association controlled by the
big banks for their own benefit?
The Association is not an oligarchy: elected members easily outnumber
the continuing members on the Committee, Consultative Council and
in general meeting.
Can I get market information or financial
data of member banks through the Association?
The Association does not receive regular returns from member banks.
Requests for company-specific information and aggregate data should
be made to individual institutions and the Hong
Kong Monetary Authority respectively.
What courses or examinations does the
Association offer?
The Association does not provide such services. Interested parties
should contact the Hong
Kong Institute of Bankers, tertiary institutions or other educational
bodies.
We are interested in good trade contacts
with manufacturers and exporters of general merchandises from
Hong Kong. Could you send us a specimen copy of your publication
together with your subscription and advertising rates?
The Association is a statutory banking association and not a trade
association. Interested parties should contact the following parties:
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