HK's top leader piles up cash at home after US sanctions
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
January 31, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, JANUARY 31, 2023
HK's top leader piles up cash at home after US sanctions

World+Biz

Reuters
29 November, 2020, 06:15 pm
Last modified: 29 November, 2020, 06:21 pm

Related News

  • Asian shares scale fresh 7-month high as Hong Kong trade resumes
  • Russia sent Rooppur cargo in sanctioned ship intentionally: Momen
  • China, Hong Kong resume high-speed rail link after 3 years of Covid curbs
  • China appoints new Hong Kong liaison office chief
  • Extrajudicial killings, enforced disappearances drop dramatically after US sanctions against RAB: HRW

HK's top leader piles up cash at home after US sanctions

“I’m using cash for all the things,” she said. “I have piles of cash at home, the government is paying me cash for my salary because I don’t have a bank account.”

Reuters
29 November, 2020, 06:15 pm
Last modified: 29 November, 2020, 06:21 pm
Hong Kong Chief Executive Carrie Lam Photo: Reuters
Hong Kong Chief Executive Carrie Lam Photo: Reuters

Hong Kong leader Carrie Lam says she has to pile up cash at home as she has been unable to open a bank account in the global financial centre since Washington sanctioned her shortly after Beijing imposed a national security law on the city.

Beijing circumvented Hong Kong's legislature and imposed a national security law on the former British colony on June 30, a move condemned by some foreign governments, business groups and rights groups.

Hong Kong and authorities in Beijing said the law was necessary to restore stability after more than a year of anti-government protests.

"Sitting in front of you is a chief executive of the Hong Kong SAR (Special Administrative Region) who has no banking services made available to her," Lam told HKIBC, an English-language news channel in the city, on a preview clip shown late on Friday.

"I'm using cash for all the things," she said. "I have piles of cash at home, the government is paying me cash for my salary because I don't have a bank account."

In August, the United States imposed sanctions on Lam and other top officials for what Washington says is their role in curtailing political freedoms in the territory.

"I don't want to... deter people from serving in a public position because it is very honourable in this set of circumstances to be so unjustifiably sanctioned by the US government," Lam said.

Lam is paid about HK$5.21 million ($672,232) a year, according to local media reports, making her among the highest-paid public officials in the world.

hong kong / US sanctions / Carrie Lam

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves Bangladesh's $4.5 billion loan proposal
  • Despite downturn 3 dozen listed firms plan Tk7,500cr investment
    Despite downturn 3 dozen listed firms plan Tk7,500cr investment
  • Mysterious resignation of SIBL chairman, addl MD
    Mysterious resignation of SIBL chairman, addl MD

MOST VIEWED

  • A woman on a mobility scooter drives past a mural praising the NHS (National Health Service) amidst the continuation of the coronavirus disease (COVID-19) pandemic, London, Britain, March 5, 2021. REUTERS/Toby Melville/File Photo
    Hundreds of thousands of UK healthcare workers balloted for strikes
  • FILE PHOTO: The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo
    Adani's nationalist rebuttal ignores accusations, says Hindenburg
  • Chief Executive of oil producer Rosneft Igor Sechin attends a meeting with Russian President Vladimir Putin at the Novo-Ogaryovo state residence outside Moscow, Russia February 15, 2021. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS/File Photo
    Russia's Sechin says Taiwan will return to China 'on schedule'
  • Photo: Collected
    Food blogger who cooked and ate great white shark is fined $18,500
  • China's and U.S.' flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
    China says willing to communicate with US military but 'red lines' should be respected
  • Malaysia's newly appointed Prime Minister Anwar Ibrahim reacts as he deliver his speech during a gathering in Kuala Lumpur, Malaysia November 24, 2022.Vincent Thian/Pool via REUTERS
    Malaysia PM Anwar tells Goldman to pay up on 1MDB settlement

Related News

  • Asian shares scale fresh 7-month high as Hong Kong trade resumes
  • Russia sent Rooppur cargo in sanctioned ship intentionally: Momen
  • China, Hong Kong resume high-speed rail link after 3 years of Covid curbs
  • China appoints new Hong Kong liaison office chief
  • Extrajudicial killings, enforced disappearances drop dramatically after US sanctions against RAB: HRW

Features

Photo: Courtesy

The Hawkers: Where minimalism meets motifs

19h | Brands
TBS illustration

Where do Shariah-compliant mutual funds stand in Bangladesh

18h | Panorama
Sketch: TBS

A subsidy war without winners

17h | Panorama
Photo: Collected

Oppo Reno 8T first look revealed!

18h | Brands

More Videos from TBS

two more factories of the country got platinum certificate.

two more factories of the country got platinum certificate.

9h | TBS Today
Iconic villains of Bollywood

Iconic villains of Bollywood

10h | TBS Entertainment
General knowledge "Gravity"

General knowledge "Gravity"

8h | Videos
Will tanks turn the tide for Ukraine?

Will tanks turn the tide for Ukraine?

9h | TBS World

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]