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Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.

 

Iranian bank waits it out in HK

One of the three Iranian banks named by the US regulator for illegal dealings with Standard Chartered Bank has been operating in Hong Kong for more than a decade but has been barred from taking new clients here since 2008.