Is money saved in banks in Hong Kong insured in case of bankruptcy?

I’m looking to invest money as a CD or savings account in HSBC’s branch in Hong Kong. However, I’m afraid that in case of bankruptcy, my money cannot be recovered (for example, in the US, up to $10,000 can be recovered in case the bank goes bankrupt). Does any such law exist in Hong Kong? Will it be safe to invest my money there?

This entry was posted on Wednesday, February 25th, 2009 at 8:13 pm and is filed under Bankruptcy Law. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

2 Responses to “Is money saved in banks in Hong Kong insured in case of bankruptcy?”

1. cmui1978 Says:
   February 26th, 2009 at 2:12 am

   I am sure the money saved in Hong Kong does not protected by FDIC. I never hear HK has similar insurance.

   Saving in HSBC is properly very safe, such a large bank is very unlikely to go bankrupt by any case.

2. ennui Says:
   February 26th, 2009 at 7:55 am

   FDIC is limited within United States.

   HSBC is very safe in Hong Kong. HSBC prints HK’s currency along with Standard Charter Bank.