From Wikipedia, the free encyclopedia.
The Hong Kong Monetary Authority (HKMA) is a government authority founded on April 1, 1993 in Hong Kong from the consolidation of the Office of the Exchange Fund and the Office of the Commissioner of Banking. It reports directly to the Financial Secretary.
Apart from its main responsibility of ensuring monetary and banking stability, it plays important roles in maintaining the stability of the Hong Kong dollar, managing Hong Kong's official reserves, the Exchange Fund, in a way that is sound and effective, keeping Hong Kong's banking system safe and constructing the financial infrastructure of Hong Kong for the smooth and free flow of money in the territory. All these are governed by the Banking Ordinance and the Exchange Fund Ordinance.
The Hong Kong Monetary Authority is headquartered in the International Finance Centre. Mr Joseph Yam has been being the Chief Executive of the HKMA since its establishment in April 1993. And his office is now situated on the top floor of IFC II, which is served by an individual lift.
