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Hong Kong Deposit Protection Board is an independent and statutory institution formed to manage and supervise the operation of Deposit Protection Scheme. The maximum protection amount of deposit was HK$100,000 in 2006 (when the Hong Kong Deposit Protection Board was set up), it is now with a limit up to HK$500,000 (or equivalent in RMB or other ...
Since the outbreak of the financial tsunami in September 2008, the Hong Kong SAR Government immediately introduced a series of measures with a view to "stabilising the financial system, supporting enterprises and preserving employment". The Hong Kong Monetary Authority introduced a full deposit protection scheme.
[2] [3] Together with the Social Allowance Scheme (today known as Social Security Allowance Scheme) introduced in 1973, they have been the major components of Hong Kong's social security system. [2] Throughout the 1980s, the total spending on social welfare was between 4.5 and 6.5% of the government's budget and the social security spending was ...
The first virtual banking license in Hong Kong was issued in 2018. [18] Virtual banks are subject to the same set of supervisory requirements applicable to conventional banks [ 17 ] and are members of the Deposit Protection Scheme (DPS).
McCune–Reischauer. Yegŭm pohŏm kongsa. The Korea Deposit Insurance Corporation (KDIC) is a South Korean deposit insurance corporation, established in 1996 to protect depositors and maintain the stability of the financial system. The main functions of KDIC are insurance management, risk surveillance, resolution, recovery, and investigation.
My Home Purchase Plan is one of the public housing initiatives of Hong Kong. This plan enables eligible citizens to purchase homes by way of "rent-and-buy". The Plan aims to provide assistance to potential sandwich class home buyers who are able to repay mortgages in the long term but currently do not have enough savings for the down payment.
Mandatory Provident Fund. The Mandatory Provident Fund (Chinese: 強制性公積金), often abbreviated as MPF (強積金), is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. Most employees and their employers are required to contribute monthly to mandatory provident fund schemes provided by approved ...
Tenancy deposit scheme may refer to: Tenancy deposit scheme (England and Wales) Tenancy deposit schemes (Scotland) Tenancy deposit scheme (Northern Ireland) See also.