The Hong Kong Monetary Authority (HKMA) announced on Friday it has signed a Memorandum of Understanding (MoU) with the Polish Financial Supervision Authority (KNF) exchanged a Memorandum of Understanding (MoU to enhance fintech collaboration between the two authorities, with a view to strengthening co-operation between the two places in promoting innovative financial services.
According to the HKMA, the MoU agreement was signed between Howard Lee, Deputy Chief Executive of the HKMA and Marek Chrzanowski, Chairman of the KNF today in Hong Kong. Under the MoU, the HKMA and the KNF will collaborate on joint research projects, information exchange, mutual consultations and expertise sharing. Lee stated:
“We are pleased to foster a closer relationship with the KNF to better support fintech and innovative financial services across the two jurisdictions. Poland is prioritising on fintech and seeks to become a regional fintech hub in Europe. The co-operation between the HKMA and the KNF would enable the two authorities to benefit from each other’s experience and expertise.”
Chrzanowski went on to add:
“Recently KNF has taken part in a number of activities to support the development of the FinTech sector in Poland and we look forward to fruitful collaboration with Hong Kong which is one of the main financial technology centres in Asia. Mutual consultation and sharing best practice in financial innovations between HKMA and KNF will enable us both to better follow technological change in the financial markets and adapt the supervisory environment to new business models based on modern technological solutions.”