Banking Ordinance

The statute providing the legal framework for banking supervision in Hong Kong. The Banking Ordinance provides for the authorization and supervision of authorized institutions so as to provide a measure of protection to depositors and to promote the general stability and effective working of the banking system. The Banking Ordinance also provides for the approval and supervision of money brokers. The Banking Ordinance is regularly reviewed in the light of practical experience and to take account of developments in the banking industry.