Monetary authority seeks to keep Hong Kong at cutting edge of tech, regulatory developments, launches Academy of Finance
- Academy will be funded by Exchange Fund with a budget of HK$80 million for first year
- Top executives from city to be actively involved in academy’s development programme
The Hong Kong Monetary Authority took a concrete step towards developing more world-class financial leaders in the city on Wednesday with the launch of its Academy of Finance.
The academy, first mentioned by Financial Secretary Paul Chan Mo-po in his budget in February 2018, will invite about 100 top executives from Hong Kong’s banking, finance and insurance industries to participate in a development programme involving workshops and research as members.
“There will be no exams, no classroom study or any training. But we do expect the members to be actively involved in our development programme, which will involve a lot of heavyweight speakers, workshops and research,” said Arthur Yuen Kwok-hang, the HKMA’s deputy chief executive.
The members will not be required to pay a fee to attend, and the academy will be funded by the Exchange Fund with a budget of HK$80 million (US$10 million) for the first year.
The monetary authority, Hong Kong’s de facto central bank, believes the academy will burnish the city’s credentials as an international financial centre.
