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Last updated: 26 September 2002  

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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