In view of the ongoing impact of the COVID-19 pandemic on Hong Kong’s economy and labour market, the Hong Kong Monetary Authority (HKMA) today (8 February 2021) announced the extension of the Banking Talent Programme (the Programme). The Programme, jointly launched by the HKMA and the banking industry, will be extended to upcoming fresh graduates this year through offering six-month work opportunities and professional training starting September 2021 (2021 Programme). The existing Programme for recruited graduates (2020 Programme) will also be extended for a period of up to six months (i.e. till 31 August 2021) depending on the operational needs of the participating institutions.
With the support of the industry, the scale of 2021 Programme will be larger with more job opportunities, and the scope will be expanded to cover graduates from universities outside Hong Kong, in addition to those from local universities. These enhancements will benefit a wider spectrum of young talent who aspire to develop their career in Hong Kong’s banking sector. The details of 2021 Programme are set out below:
For those existing graduates under 2020 Programme whose employment will be extended by the participating institutions, the HKMA will continue to reimburse up to 50% of the monthly salary of Programme participants during the extended period.
Mr Eddie Yue, Chief Executive of the HKMA, said, “I am pleased to see the staunch support of the banking industry and the positive responses of the graduates for the Programme. As the labour market is likely to remain challenging amid the lingering pandemic, the extension of the Programme will provide a valuable opportunity for our young talent to gain more work experience and financial knowledge so that they can better prepare themselves for a future career in the banking sector when the economy recovers. The banking industry will also benefit from a sustainable pipeline of young talent, which is crucial to strengthening the competitiveness of Hong Kong as an international financial centre.”
Any further information about the Programme will be updated on the website of the HKIB (www.hkib.org), the administrator of the Programme, in due course.
The HKMA and the banking industry launched the Programme last year to provide fresh graduates with short-term work opportunities and professional training, with a view to alleviating the impact of the COVID-19 pandemic on the supply of young talent in the banking sector. More than 300 six-month work opportunities from over 40 participating institutions were offered to undergraduates of local universities last year, with employment period commencing September 2020.
Hong Kong Monetary Authority
8 February 2021