Industry background

Money lending business has a long history in Hong Kong even before the enactment of Money Lenders Ordinance (CAP. 163) in 1980. Its major businesses include: (i) consumer and commercial loan, (ii) mortgage, (iii) vehicle, plant and equipment leasing, (iv) credit card, (v) Small and Medium Enterprises loan, (vi) cheque and invoice discounting, (vii) loan syndication.

The business is monitored by the Hong Kong Police Force (Licensing Office). Business license is granted by the Licensing Court while general administrative work is handled by the Companies Registry - Money Lenders Section. Although our operating scope may not be as wide as commercial banks, restricted licensed banks and DTCs, our scale of operation have placed us as an equally important player in the financial services industry of Hong Kong.

Cause of formation

There is a need to have an organized representation of Licensed Money Lenders to protect the general interest of consumers in the money lending industry. Also, HKLMLA will work and liaise closely with relevant government authorities so that they will better understand the money lending business and the practical difficulties we encounter in our daily operation.

About the Association

• Incorporated in December 1999 as a company limited by guarantee
• The Association has over 40 members which include most of the major players with extensive retail branch network in Hong Kong.
• The Association is a member of the Consumer Credit Forum (個人信貸工作小組), which was jointly set up by the Hong Kong Association of Banks and the DTC Association to formulate strategic and tactical solutions to bankruptcy-related problems, and is represented by members of the four industry associations, namely the Hong Kong Association of Banks, the DTC Association, the Finance Houses Association and the Association.

The Members of the Executive Committee

2007 Statistical Highlights