Hong Kong Leader Carrie Lam Keeps 'Piles of Cash' at Home, Left With No Bank Account After US Sanctions
Lam was among the 15 Chinese officials who were targeted by the US with strict sanctions, to freeze them financially. The sanctions were in response to the Hong Kong Assembly giving consent to the contentious National Security law drafted by Beijing.
Hong Kong, November 28: Hong Kong Leader Carrie Lam, slapped with a stringent set of sanctions imposed by the United States, has been left with "no bank account". The unpopular political and administrative head of the Chinese autonomous city said she is being forced to keep "piles of cash" at her residence since the sanctions came into effect.
“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. I’m using cash for all the things,” Lam told local English news channel HKIBC. China Imposes 'Reciprocal' Restrictions on US Diplomats in Mainland And Hong Kong.
“I have piles of cash at home, the government is paying me cash for my salary because I don’t have a bank account," she further added. Hong Kong, being a global financial hub, houses mostly multinational banks which adhere to the sanctions imposed by the US.
Lam was among the 15 Chinese officials who were targeted by the US with strict sanctions, to freeze them financially. The sanctions were in response to the Hong Kong Assembly giving consent to the contentious National Security law drafted by Beijing.
The law, according to critics, has virtually curtailed the right to freedom of speech and expression, and has infringed upon the autonomy that was promised to Hong Kong when the erstwhile British regime had departed in 1997 following the treaty with Communist China.
(The above story first appeared on LatestLY on Nov 28, 2020 05:16 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).