Committee of British Parliament publishes report to criticise HSBC for restricting withdrawals of deposits by immigrants from Hong Kong via BN(O) visa programme

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8th February 2023 – (London) A committee of  British Parliament published a 23-page report criticising HSBC for restricting withdrawals of deposits by immigrants from Hong Kong.

HSBC responded that it respects human rights and, like all banks, must comply with the laws and instructions of regulators in the regions in which it operates. According to the report, HSBC assisted the Chinese government in economically isolating Hong Kong people who left Hong Kong and refused customers to withdraw their MPF savings on the grounds that the entry documents issued by the British government were insufficient.

Alistair Carmichael, a member of the House of Commons of the Liberal Democratic Party of the United Kingdom, said that the incident is not only about the law, but also about the basic rights of individuals who have the right to use their properties. He accused HSBC of causing real difficulties for people leaving Hong Kong. The U.K. officially started the BN(O) visa program on 31st January, 2021, allowing eligible Hong Kong citizens to apply for a BN(O) visa to live in the U.K. So far, 150,000 Hong Kong citizens have applied.