HKMA opens Academy of Finance

The Hong Kong Monetary Authority has launched an Academy of Finance in an effort to train world-class financial leaders. The academy will invite about 100 t op executives from Hong Kong’s banking, finance and insurance industries to participate in a development program involving workshops and research as members. HKMA’s deputy chief executive Yuen Kwok-hang said there will be no exams, no classroom study or any training. But HKMA would expect the members to be actively involved in the development program, which will involve a lot of heavyweight speakers, workshops and research. The members will not be required to pay a fee to attend and the academy will be funded by the Exchange Fund with a budget of HK$80 million for the first year.