The Head of Monetary Authority of Hong Kong has quit amidst pressure from Minibond victims.
Last month, Mr. Ren Zhigang was in the Legislative Council hearing on the Minibond issue whereby Minibond Victims threw verbal abuses at him for the whole 5 minutes during recess. He stayed on his seat taking whatever verbal abuses thrown at him in silence. He could have walked off to rest room during recess but he chose to sit there to face the anger of Minibond Victims bravely.
This resignation comes amidst the recent latest accusation of MAHK's incompetency in dealing with its regulative role on the sales of toxic financial products in Hong Kong. Legco members have defied "confidentiality" of the reports submitted by MAHK on the Minibond Saga. In this report, a few financial institutions were implicated with serious mis-selling tactics. This could have legal implication on the various court cases carried out against some of the financial institutions.
Goh Meng Seng
Last month, Mr. Ren Zhigang was in the Legislative Council hearing on the Minibond issue whereby Minibond Victims threw verbal abuses at him for the whole 5 minutes during recess. He stayed on his seat taking whatever verbal abuses thrown at him in silence. He could have walked off to rest room during recess but he chose to sit there to face the anger of Minibond Victims bravely.
This resignation comes amidst the recent latest accusation of MAHK's incompetency in dealing with its regulative role on the sales of toxic financial products in Hong Kong. Legco members have defied "confidentiality" of the reports submitted by MAHK on the Minibond Saga. In this report, a few financial institutions were implicated with serious mis-selling tactics. This could have legal implication on the various court cases carried out against some of the financial institutions.
Goh Meng Seng
