Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Hong Kong Monetary Authority and HKAB hold first task force meeting on SME lending
ADOPTION NEWS

Hong Kong Monetary Authority and HKAB hold first task force meeting on SME lending

By Crypto FlexsSeptember 11, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Hong Kong Monetary Authority and HKAB hold first task force meeting on SME lending
Share
Facebook Twitter LinkedIn Pinterest Email

Louisa Crawford
Sep 6, 2024 07:54

The SME Lending Joint Task Force of the Hong Kong Monetary Authority (HKMA) and the Hong Kong Investment Board (HKAB) held its inaugural meeting to address SME financing challenges and enhance communication with the commercial sector.





The Joint Task Force on SME Lending, established by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Banking Association (HKAB), held its inaugural meeting on 5 September 2024. According to the Hong Kong Monetary Authority, this key session aimed to address the challenges faced by SMEs in accessing and maintaining bank funding.

Key issues discussed

Co-chaired by Mr Arthur Yuen, Deputy Chief Executive Officer of the HKMA, and Ms Luanne Lim, Chairperson of the HKAB, the meeting brought together representatives from the HKMA, HKAB and 14 banks involved in SME lending. The discussions covered several key topics, including:

  • Small and medium-sized enterprise support measures: Banks reaffirmed their commitment to the nine previously introduced SME support measures and ensured continued financing and support for sustainable SME development.
  • Risk tolerance: Banks have confirmed that their risk appetite and related credit approval criteria for financing small and medium-sized enterprises remain unchanged.
  • Customer Fairness and Transparency: Since the task force was established, approximately 70 inquiries and cases have been received, highlighting issues such as unclear banking information and lengthy credit approval processes. Best practices such as improved transparency and streamlined application processes have been shared to improve customer experience.
  • People and Resources: Banks have pledged to allocate sufficient resources to review credit requests promptly, aiming to respond within a month under normal circumstances.
  • Home Equity Loan Approval: To increase transparency and efficiency in mortgage approvals, banks will notify applicants of their approval decision within 14 days of receiving all required documentation.

Commitment to risk management

The task force stressed the importance of consistent and effective risk management to protect depositor interests. In the event of prolonged non-payment despite relief measures, banks will take appropriate action while maintaining clear communication with affected customers.

Future Initiatives

The task force also discussed further facilitating bank support for SME development, upgrading and transformation. The HKMA and the banking industry plan to organise seminars and activities over the next two months to help SMEs better leverage data and technology to improve productivity. Details of these events will be announced in due course.

The task force, established in August, aims to strengthen support for SMEs at both the individual and industry level. This includes reviewing cases of SMEs experiencing difficulties in accessing funding and establishing a mechanism for the HKMA to refer cases to relevant banks. The task force will continue to enhance communication between the HKMA, the banking industry and the commercial sector to better understand and support SMEs’ ​​funding needs.

Image source: Shutterstock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TRX Price Prediction: TRON targets $0.35-$0.62 despite the current oversold situation.

October 26, 2025

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025
Add A Comment

Comments are closed.

Recent Posts

Jiuzi Holdings Launches $1 Billion Bitcoin Treasury With SOLV To Drive Institutional Yields And RWA Innovation

October 30, 2025

Hetu 3.0 – Deep Intelligence Money

October 30, 2025

Doodles has joined Universal Monsters and dropped a TON of NFT stickers.

October 30, 2025

Ethereum whales doubled down on ETH as the $5,000 price target moves higher.

October 30, 2025

SOL remains fixed below $200 despite surge in ETF trading volume

October 30, 2025

Bybit’s BbSOL Gains Institutional Custody Support From Anchorage Digital, Reinforcing Its Institutional-Grade Standing

October 30, 2025

OKX Ventures Invests in Accountability for Enhanced Financial Verification

October 30, 2025

Injective (INJ) Completes First Community Buyback Worth $32 Million

October 29, 2025

Whale.io Confirms First Airdrop For Crock Dentist NFT Holders

October 29, 2025

BTC And XRP Prices Fluctuate Dramatically. WOAHash Helps Holders Earn $9,900 In Daily Returns.

October 29, 2025

Acre Launches V2 Platform, Enabling Bitcoin Holders To Earn 14% APY (est.) From Self-Custody

October 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Jiuzi Holdings Launches $1 Billion Bitcoin Treasury With SOLV To Drive Institutional Yields And RWA Innovation

October 30, 2025

Hetu 3.0 – Deep Intelligence Money

October 30, 2025

Doodles has joined Universal Monsters and dropped a TON of NFT stickers.

October 30, 2025
Most Popular

Binance Adds Support for Dalian Mining Brand Dar Open Network (D)

January 10, 2025

Are Wall Street Banks Supporting Bitcoin ETFs?

December 19, 2023

Fortified Protection for Digital Assets

May 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.