Hong Kong Monetary Authority delegation visited Malaysia to strengthen bilateral financial collaboration

Hong kong monetary authority strengthens financial ties with malaysia through delegation visit

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) delegation concluded a three-day visit to Kuala Lumpur, Malaysia, on May 24 to strengthen financial collaboration between Malaysia and Hong Kong.

Led by the Chief Executive of the HKMA, Mr Eddie Yue,the delegation held bilateral meeting with the Bank Negara Malaysia (BNM), focusing on strategic areas including digital finance and fintech, green and sustainable finance, payment systems, use of local currencies for cross-border trade and Islamic finance.

Representatives from the HKMA and the BNM also joined the Malaysia Business Forum, organised by the Hong Kong Association of Banks. Attended by over 160 senior representatives from leading local and international banks operating in the two places, the Forum provided a platform to discuss and exchange views on financial co-operation and topics of mutual interests between Malaysia and Hong Kong.

The delegation also met with key business and financial leaders in Malaysia to discuss new opportunities arising from the strengthening economic and financial ties between Malaysia and Hong Kong.

Mr Yue remarked, "Hong Kong and Malaysia share a vision of promoting regional economic co-operation, fintech innovation and climate transition. As the gateway to the Mainland and a leading economy in ASEAN respectively, Hong Kong and Malaysia are well positioned to work together to drive closer partnership and sustainable growth across the entire Asia region."

This visit is part of the HKMA's ongoing efforts to expand its global network. Following successful visits to Thailand, Saudi Arabia, and the United Arab Emirates earlier, the HKMA plans to continue its engagement with the Middle East and other Association of Southeast Asian Nations (ASEAN) countries to maintain and further strengthen Hong Kong's status as an international financial centre.

Hong Kong Monetary Authority delegation visited Malaysia to strengthen bilateral financial collaboration Source: HKSAR Government Press Releases

Hong Kong Monetary Authority delegation visited Malaysia to strengthen bilateral financial collaboration Source: HKSAR Government Press Releases

Hong Kong Customs seizes suspected cannabis buds worth about $3.8 million

Hong Kong Customs yesterday (September 27) detected one dangerous drugs case at Hong Kong International Airport and seized a total of about 14 kilograms of suspected cannabis buds, with a total estimated market value of about $3.8 million.

Through risk assessment, Customs yesterday inspected a batch of air cargo consignment, declared as carrying vegetables and fruits, arriving in Hong Kong from Thailand. Upon inspection, among 53 carton boxes of goods, 2 were found containing dried seafood and mingled with the batch of suspected cannabis buds. A 58-year-old male consignee, who was suspected to be connected with the case, was subsequently arrested.

After a follow-up investigation, Customs officers yesterday mounted a controlled delivery operation in Kowloon City, and arrested a 43-year-old female, suspected to be connected with the case.

An investigation is ongoing. The likelihood of further arrests is not ruled out.

Customs reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items in and out of Hong Kong.They are also reminded not to carry unknown items for other people.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs seizes suspected cannabis buds worth about $3.8 million Source: HKSAR Government Press Releases