The INEDs’ Knowledge Kit

"The Independent Non-Executive Director’s Knowledge Kit" (The INED's Knowledge Kit) is jointly published by the Hong Kong Monetary Authority (HKMA) and The HKIB. It is part of the On-boarding Programme for Independent Non-Executive Directors (INEDs) of locally incorporated authorized institutions (AIs) launched by the HKMA in October 2017.

The INED's Knowledge Kit is comprehensive and easy-to-read. It covers six areas of essential knowledge in the following chapters:

1. The Financial System provides the history and background of the banking system with a special focus on the financial system and markets in Hong Kong. It also introduces various types of financial institutions and the functions of a central bank;

2. Financial Market Infrastructure gives an overview of financial infrastructure in Hong Kong, with particular highlight on the retail payment systems. It also introduces the role of financial infrastructure in supporting stability of the financial system and its oversight by supervisors;

3. Banking Supervision introduces the regulatory bodies relevant to banking in Hong Kong and summarises the regulatory and supervisory framework as well as the implementation of international banking standards;

4. Risk Management looks into risk concepts and management, their applications in banking and the structuring of risk management functions in banks;

5. Governance and Ethics examines concepts and issues arising from corporate governance and ethics and introduces banking culture reform and the Code of Banking Practice; and

6. Banking Services and Operations presents essential knowledge of banking services and operations typically covered by the industry, ranging from types of services offered in the front-office to back-office operations such as legal and accounting issues.

It is a practical read for practitioners across all areas in banking, legal & consultancy, training and students.

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