Junket president supports credit database

Kwok Chi-chung, the president of Macau’s Association of Gaming and Entertainment Promoters, has expressed his support for the establishment of a credit database, with the prerequisite of not disclosing certain information about participants. He proposed the inclusion of a disclaimer and a vetting mechanism, as well as a requirement for the lender to first obtain the consent of the borrower. Kwok said that if the government sets up a credit database, it would take a long time for administrative measures, such as passing the proposal through the Legislative Assembly, to run their due course. The industry would therefore prefer the database to be run by the industry itself, allowing for greater flexibility and a quicker establishment process.

Banking sector sees increase in number of workers

The number of full-time employees in the banking sector increased by 258 year-on-year to 6,000 at the end of the first quarter of 2016, according to information from the Statistics and Census Service (DSEC). Analyzed by occupation, there were 1,614 directors and managers, and 2,109 clerks (including 764 bank tellers) employed by the 28 local banks. In March 2016, the average earnings (excluding bonuses and allowances) of full-time employees amounted to MOP25,150, up by 5.2 percent year-on-year. The average earnings of bank tellers increased by 10 percent to MOP15,320. At the end of the first quarter of 2016, job vacancies dropped to 238, down by 80 from a year ago; vacancies for clerks totaled 131, including 45 for bank tellers.