Macau Government Pledges to Safeguard Depositors
Written on March 16, 2007 by admin
The Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, today expressed his deep regret over the US Treasury Department designating Banco Delta Asia (”BDA”) as a financial institution that has laundered money.
He stressed that the Macao Government would continue to act accordingly in the interest of and to protect depositors.
When asked by reporters, Mr Tam said the Macao Government has confidence to maintain the banking market stability. He also revealed that, according to the investigative report by an independent auditor outside the Macao Monetary Authority of Macao, no evidence related with illegal activity has been found.
He said the Monetary Authority of Macao has done much over the past 18 months, such as strengthening the BDA’s internal management, establishing an office for financial information, which achieved recognition with the United States and international organisations.
Mr Tam said he believed the Monetary Authority of Macao would continue to closely monitor financial activities of banking unstitutions.
Source | Government Information Bureau
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