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Cashing Pro joined The Hong Kong SAR Licensed Money Lender Association(LMLA)

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Cashing Pro joined The Hong Kong SAR Licensed Money Lender Association

2021-10-26

“Join the Hong Kong Licensed Money Lenders Association (LMLA) and strictly abide by the guidelines and regulations”

Aim to acquire better knowledge, handle the practical difficulties encountered by the companies in the loan industry in their day-to-day business, to explore and implement various policies, measures to guarantee sustainable and healthy industry advancement.

According to the Government of the Hong Kong Special Administrative Region, there are 2482 registered Licensed Money Lenders Association in February, 2022. However there are only 41 companies out of the Code of Money Lending Practice (the “Code”) in the course of the operation and must strictly comply with the standards set by the association in the course of providing financial services to customers.

The Hong Kong S.A.R. Licensed Money Lenders Association issued the Code of Money Lending Practice, which outlines clear guidelines of LMLA members to strictly abide by standards with the aim to guarantee that the running day-to-day operation of business is in strict compliance with applicable laws and regulations.