What you should know about Hong Kong's new money lending
rules: enhanced licensing conditions for licensees and tightened
vetting for new applicants.
Hong Kong has an active and dynamic money lending market. In
addition to loans provided by banks regulated under the Banking
Ordinance (Cap. 155), non-bank money lenders provide alternative
means of financing for individuals and companies. The money lending
industry is regulated under the Money Lenders Ordinance (Cap. 163) (MLO). As of
June 2021, there were 2,450 licensed money lenders in Hong Kong,
including traditional pawn shops and other innovative versions of
the business.
The MLO defines a money-lender as "every person whose
business (whether or not he carries on any other business) is that
of making loans or who advertises or announces himself or holds
himself out in any way as carrying on that business."
