Enactment of the Safeguarding National Security Bill
(20th March 2024) The Hong Kong Association of Banks (HKAB) welcomes the passing of the Safeguarding National Security Bill, fulfilling the constitutional duty of the Hong Kong Special Administrative Region (HKSAR) as stipulated in Article 23 of the Basic Law.
The HKSAR Government has proactively engaged with the banking community to clarify the legislation and address queries from various stakeholders throughout the public consultation process.
The enactment of the law allows Hong Kong to focus on economic and developmental priorities, paving the way for sustained stability and prosperity.
HKAB hopes the HKSAR Government will continue public education and engage in open dialogue with stakeholders about the legislation. The banking community is committed to strengthening Hong Kong’s position as an international financial centre that serves the global community.