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

Chairman Mr. Akihiro Nagahara United Asia Finance Limited
Executive Committee Member & Secretary Mr. Stephen Lo SHK Finance Limited
Executive Committee Member & Treasurer Ms. Stella Lai Noble Fund Limited
Executive Committee Members Mr. Billy Ng South China Financial Credits Limited
Mr. Anthony Hong Hitachi Capital (Hong Kong) Limited
Mr. Julian Ngai Promise (H.K.) Co. Limited
Mr. Richard Chow Sunford Finance (HK) Limited

2007 Statistical Highlights

  • 750 licensed money lenders
  • 10,918 bankruptcy petitions
  • 11,063 receiving/bankruptcy orders
  • 455 winding-up orders

    Members' rights

  • Enjoy and participate in events organized by HKLMLA
  • Use facilities of the Association when available
  • Enjoy benefits and welfare of the Association
  • Participate in members' meeting
  • Vote at members' meeting

    Members' obligations

  • Abide by Money Lenders Ordinance
  • Abide by Code of Practice of the Association
  • Pay prescribed entrance and annual subscription fees
    Registered Address : 21/F, Allied Kajima Building,
    138 Gloucester Road, Wan Chai, Hong Kong
    Tel : 2827 8281
    Fax : 2827 8292