ICAC launches Banking Industry Integrity Charter with full support of HKMA and HKAB
2024-10-9
The Independent Commission Against Corruption (ICAC), in collaboration with the Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB), today (October 9) launched the Banking Industry Integrity Charter (Integrity Charter) to encourage the sector to implement an integrity management system and continue to enhance anti-corruption capabilities to sustain Hong Kong’s status as a clean international financial centre.
Pioneered by the ICAC and fully supported by the HKMA and the HKAB, the Integrity Charter is accepting enrolment from today. Through public-private partnership, the Integrity Charter aims to combat and prevent corruption proactively, assist banks to enhance their integrity management system, and continuously strengthen corruption prevention awareness and capabilities of banks. In accordance with the Integrity Charter, participating banks are required to promote a sound bank culture, establish a code of conduct, assign an integrity officer to assist in implementing good governance, provide integrity training to staff, as well as reporting suspected corruption, fraud and other illicit activities to the ICAC or other law enforcement agencies promptly.
Speaking at the launching ceremony, ICAC Commissioner, Mr Woo Ying-ming said, “Hong Kong is recognised as one of the cleanest and most competitive places in the world. Leveraging its distinctive advantage of having strong support from the motherland and close connection with the world, Hong Kong boasts a thriving financial sector. The ICAC launches the Integrity Charter with a view to combining two of the advantages of Hong Kong – a clean society and a prosperous financial industry. The Integrity Charter reflects the great importance the banking industry places on integrity to reinforce Hong Kong’s status as an international financial centre, and dovetails with the Belt and Road Initiative of the country in building a “Clean Silk Road” by preventing and combating corruption through enhanced public-private partnership.”
In his opening address, Chief Executive of the HKMA, Mr Eddie Yue, said, “The Integrity Charter helps strengthen the banking industry’s anti-corruption capabilities. It also helps maintain stability in the banking system and bolster public confidence and hence, reinforcing Hong Kong’s position as an international financial centre. The HKMA fully supports the ICAC in implementing the Integrity Charter and will continue to collaborate with the HKAB and the industry to uphold a probity culture within the industry.”
Encouraging industry players to participate in the Integrity Charter, Chairperson of the HKAB, Ms Luanne Lim, said, “The banking industry in Hong Kong prides itself on a high level of integrity, and its trustworthiness is recognised by international institutes. The staunch support from the HKAB and the HKMA to ICAC’s Integrity Charter showcases the commitment of the banking industry and demonstrates to the public its determination to uphold a clean society and combat corruption.”
Today’s launching ceremony was attended by around 60 senior managerial personnel from 30 banks. Following the ceremony, Deputy Commissioner and Head of Operations of the ICAC, Mr Ricky Yau Shu-chun, Deputy Chief Executive of the HKMA, Mr Arthur Yuen; Vice-Chairman of the HKAB, Ms Mary Huen; representative of the Chinese Banking Association of Hong Kong, Mr Stephen Chan; and Chief Executive Officer and Managing Director of the Private Wealth Management Association, Ms Vivien Khoo took part in a fireside chat. Mr Yau shared how the Integrity Charter would ride on the public-private partnership model to motivate managements of the banking industry to reinforce integrity management through commitments and actions.
A video illustrating the rationale and purpose of the Integrity Charter was also shared with the audience at the ceremony.
The ICAC will provide comprehensive support to participating banks, including assisting them in formulating policies to promote an integrity culture, providing anti-corruption advice and integrity training to improve integrity management and anti-corruption capabilities. Details of the Integrity Charter are available on the designated webpage: https://cpas.icac.hk/EN/Info/TP_Library?cate_id=10046
Pioneered by the ICAC and fully supported by the HKMA and the HKAB, the Integrity Charter is accepting enrolment from today. Through public-private partnership, the Integrity Charter aims to combat and prevent corruption proactively, assist banks to enhance their integrity management system, and continuously strengthen corruption prevention awareness and capabilities of banks. In accordance with the Integrity Charter, participating banks are required to promote a sound bank culture, establish a code of conduct, assign an integrity officer to assist in implementing good governance, provide integrity training to staff, as well as reporting suspected corruption, fraud and other illicit activities to the ICAC or other law enforcement agencies promptly.
Speaking at the launching ceremony, ICAC Commissioner, Mr Woo Ying-ming said, “Hong Kong is recognised as one of the cleanest and most competitive places in the world. Leveraging its distinctive advantage of having strong support from the motherland and close connection with the world, Hong Kong boasts a thriving financial sector. The ICAC launches the Integrity Charter with a view to combining two of the advantages of Hong Kong – a clean society and a prosperous financial industry. The Integrity Charter reflects the great importance the banking industry places on integrity to reinforce Hong Kong’s status as an international financial centre, and dovetails with the Belt and Road Initiative of the country in building a “Clean Silk Road” by preventing and combating corruption through enhanced public-private partnership.”
In his opening address, Chief Executive of the HKMA, Mr Eddie Yue, said, “The Integrity Charter helps strengthen the banking industry’s anti-corruption capabilities. It also helps maintain stability in the banking system and bolster public confidence and hence, reinforcing Hong Kong’s position as an international financial centre. The HKMA fully supports the ICAC in implementing the Integrity Charter and will continue to collaborate with the HKAB and the industry to uphold a probity culture within the industry.”
Encouraging industry players to participate in the Integrity Charter, Chairperson of the HKAB, Ms Luanne Lim, said, “The banking industry in Hong Kong prides itself on a high level of integrity, and its trustworthiness is recognised by international institutes. The staunch support from the HKAB and the HKMA to ICAC’s Integrity Charter showcases the commitment of the banking industry and demonstrates to the public its determination to uphold a clean society and combat corruption.”
Today’s launching ceremony was attended by around 60 senior managerial personnel from 30 banks. Following the ceremony, Deputy Commissioner and Head of Operations of the ICAC, Mr Ricky Yau Shu-chun, Deputy Chief Executive of the HKMA, Mr Arthur Yuen; Vice-Chairman of the HKAB, Ms Mary Huen; representative of the Chinese Banking Association of Hong Kong, Mr Stephen Chan; and Chief Executive Officer and Managing Director of the Private Wealth Management Association, Ms Vivien Khoo took part in a fireside chat. Mr Yau shared how the Integrity Charter would ride on the public-private partnership model to motivate managements of the banking industry to reinforce integrity management through commitments and actions.
A video illustrating the rationale and purpose of the Integrity Charter was also shared with the audience at the ceremony.
The ICAC will provide comprehensive support to participating banks, including assisting them in formulating policies to promote an integrity culture, providing anti-corruption advice and integrity training to improve integrity management and anti-corruption capabilities. Details of the Integrity Charter are available on the designated webpage: https://cpas.icac.hk/EN/Info/TP_Library?cate_id=10046
ICAC Commissioner Woo Ying-ming notes that the Integrity Charter reinforces Hong Kong’s status as an international financial centre by combining the two advantages of the city – a clean society and a prosperous financial industry.
ICAC Commissioner Woo Ying-ming (centre), Chief Executive of the HKMA Eddie Yue (right) and Chairperson of the HKAB Luanne Lim (left) unveil the new logo of Integrity Charter, which features the Great Wall, symbolising efforts to safeguard integrity in the banking industry.
ICAC Commissioner Woo Ying-ming (front row, fifth left), Chief Executive of the HKMA Eddie Yue (front row, sixth left), Chairperson of the HKAB Luanne Lim (front row, fourth left), Deputy Commissioner and Head of Operations of the ICAC Ricky Yau Shu-chun (front row, seventh left) and representatives in the banking industry participate in the launching ceremony of the Integrity Charter to show support for the public-private partnership to enhance integrity management of the industry.
Chief Executive of the HKMA Eddie Yue gives an opening remarks, noting that the Integrity Charter helps strengthen the banking industry’s anti-corruption capabilities and reinforces Hong Kong’s position as an international financial centre.
Chairperson of the HKAB Luanne Lim encourages industry players to participate in the Integrity Charter to uphold a clean society and combat corruption.
Around 60 representatives from 30 banks participate in the launching ceremony of Integrity Charter hosted by the ICAC, the HKMA and the HKAB.
Deputy Commissioner and Head of Operations of the ICAC Ricky Yau Shu-chun (second left), Deputy Chief Executive of the HKMA Arthur Yuen (first left), Vice-Chairman of the HKAB Mary Huen (centre), representative of the Chinese Banking Association of Hong Kong Stephen Chan (second right) and Chief Executive Officer and Managing Director of the Private Wealth Management Association Vivien Khoo (first right) take part in a fireside chat, sharing views on preventing corruption through public-private partnership.