Regulatory Alerts2020-06-18
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Capacity Building for Future Banking
The Hong Kong Monetary Authority, alongside the Hong Kong Association of Banks and the Hong Kong Institute of Bankers, issued a joint paper outlining a strategic roadmap to address projected talent gaps in the banking sector through 2025. The document identifies critical skill shortages in technological data capabilities, Greater Bay Area expertise, and soft skills, recommending that authorized institutions prioritize reskilling and redeploying existing staff to meet future industry demands. Institutions are required to formulate concrete strategies to address these human capacity needs, with the HKMA committing to review their action plans to ensure long-term growth and development.
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