A business-friendly approach


Over the past few years, can you outline the most significant developments at the HKMA?

On the banking supervision side, the main preoccupations over the past few years have been implementation of Basel II, anti-money laundering/ terrorist financing (AML/CFT), the introduction of deposit protection, and enhancing regional co-operation.

Basel II has been very significant, because it has provided an umbrella under which we have been able to shift the focus of supervision away from compliance and