Major banks, insurance companies and property developers in Hong Kong have pledged to render urgent banking and insurance services and accommodation to affected households of Tai Po Wang Fuk Court inferno.  

“We have called on the banking industry to exercise discretion and provide flexibility to assist those affected — for example, by helping them access liquid funds, prioritizing and expediting the process of banking document replacement, offering repayment grace periods and waivers of penalties and service charges, as well as increasing manpower in Tai Po branches to ensure timely support for the affected residents in the district,” the Hong Kong Monetary Authority and Hong Kong Association of Banks said in a joint statement.

READ MORE: Stricter regulations called for after deadly Wang Fuk Court fire

The Hongkong and Shanghai Banking Corporation will provide special handling for impacted customers who cannot present their identity cards, passbooks or ATM cards for banking services, and the bank will also expedite the ATM, credit card and debit card replacement process for these customers.

In addition, HSBC Life will support affected individual life policyholders by providing fast-track and personalized claims handling as well as virtual mental health support.

ALSO READ: Intl community extends condolences over Tai Po fire

Standard Chartered Bank (Hong Kong) has launched support measures, including assisting affected customers who are unable to provide identification documents to withdraw cash, and reissuing bank documents; flexibly handling repayment grace periods for various loans, waiving related late payment fees and handling charges as needed; deploying additional staff to the bank’s Tai Po branch, extending service hours until further notice; and establishing a 24-hour hotline to handle inquiries from affected customers.

Bank of China (Hong Kong) said it will expedite the reissue of bank cards such as ATM cards, credit cards, and debit cards and waive related reissuance fees.

Depending on the individual circumstances of affected customers, the bank will handle mortgage, personal loan, and credit card loans on a case-by-case basis, such as providing grace periods for delayed repayments and waiving penalty interest and handling fees.

The bank also has increased staff at its four branches in the Tai Po district and will extend its service hours on November 29 until 5 pm to support affected customers.

READ MORE: From mainland, with love!

Industrial and Commercial Bank of China (Asia) announced the extension of the operating hours of its Tai Po Branch and established a no-queue channel for affected households to obtain financial services such as cash withdrawal, account inquiries, and loss reporting.

AIA Hong Kong has set up a 24-hour hotline to provide immediate customer assistance regarding following up urgent cases as well as supporting medical claims and protection claims. The insurer is identifying potential affected customers based on its records and financial planners are proactively reaching out to them to provide appropriate assistance.  

Hang Lung Properties will provide its 20 Kornhill Apartment units in Taikoo Shing for two months as transitional accommodation for affected households, while Great Eagle Group also will allocate 100 guest rooms of its Langham Hospitality Group for affected households.