Press Release

*Banking industry pledges to support charities with preferential arrangements*

(27 November 2024) The Hong Kong Association of Banks (HKAB) held its annual Distinguished Speaker Luncheon today, featuring Mr John Lee, the Chief Executive of the Hong Kong Special Administrative Region, as the keynote speaker. In his address, the Chief Executive recognised the achievements of banks in supporting the economy and community of Hong Kong.

In a move that underscores the banking industry's commitment to support the broader community, the HKAB announced at the luncheon that 25 banks have pledged to offer preferential banking arrangements to tax-exempt charities (Note 1), including promoting the use of electronic channels for charitable donations.

Also in attendance to show their support for the new pledge was Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority.

In addition, the luncheon featured the graduation ceremony of HKAB’s youth programme, “Embracing Diverse Horizons,” celebrating the achievement of 80 secondary and tertiary students. Through this programme, participants have gained essential digital skills and insights into diversity, positioning themselves for more interconnected career opportunities in the Greater Bay Area. A series of activities were conducted in partnerships with the Hong Kong Federation of Youth Groups from June to December 2024.

Ms Luanne Lim, Chairperson of the HKAB, said, “These programmes show the banking industry’s commitment to Hong Kong in various ways – from enabling economic activities that drive growth and development, nurturing next generation leaders, to offering banking expertise to charitable organisations, helping them create a better future.”

Earlier this month, the HKAB received Highly Commended Industry Association of the Year award at the 7th Regulation Asia Awards for Excellence 2024. The HKAB was recognised for its dedication and impactful contribution to promote the interests of licenced banks in Hong Kong, including in relations to regulatory matters, cross-border market connectivity and best practices for the industry.

Ms Lim added, “Credit goes to all HKAB member banks and this award reflects their ongoing commitment to advancing the banking industry. HKAB is excited to continue its proactive initiatives and build on this momentum for future success.”

For more information about the Hong Kong Association of Banks and our initiatives, please visit www.hkab.org.hk.

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Media Contact:

The Hongkong and Shanghai Banking Corporation Limited

Ms Agnes Tin

Tel: (+852) 2822 4958

Email: agnestin@hsbc.com.hk

 

Note1: Tax-exempt charities refer to any charitable institution or trust of a public character, which is exempt from tax under section 88 of the Inland Revenue Ordinance.

Photo captions

1. Mr John Lee, The Chief Executive of the HKSAR, delivers keynote speech at the HKAB Distinguished Speaker Luncheon.

2. Mr John Lee, The Chief Executive of the HKSAR, congratulates the graduates of the HKAB’s youth programme “Embracing Diverse Horizons”.

3. Mr John Lee, the Chief Executive of the HKSAR (middle, first row), Mr Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority (sixth from left, 1^st row), Ms Luanne Lim, Chairperson of the HKAB (sixth from right, 1^st row) and the representatives of the banks participate in the pledging ceremony to support tax-exempt charities with preferential banking arrangements.