Monetary Authority of Macao
Encyclopedia
The Monetary Authority of Macao is a regulatory institution established on December 20, 1999, upon the transfer of the sovereignty
of Macau
from Portugal
to the People's Republic of China
as the Macau Special Administrative Region (MSAR).
According to decree-law no. 14/96/M of 11 March, the Monetary Authority of Macao carries the following major statutory duties:
Handover
In cellular telecommunications, the term handover or handoff refers to the process of transferring an ongoing call or data session from one channel connected to the core network to another...
of Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
from Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
to the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
as the Macau Special Administrative Region (MSAR).
History
It was formerly known as the "Monetary and Foreign Exchange Authority of Macao" , which was created on July 1, 1989.According to decree-law no. 14/96/M of 11 March, the Monetary Authority of Macao carries the following major statutory duties:
- To advise and assist the Chief Executive in formulating and applying monetary, financial, exchange rate and insurance policies;
- To guide, co-ordinate and oversee the monetary, financial, foreign exchange and insurance markets, ensure their smooth operation and supervise the actions of those operating within them according to the terms established in the regulatory statutes governing each respective area;
- To monitor internal monetary stability and the external solvency of the local currency, ensuring its full convertibility;
- To exercise the functions of a central monetary depository and manage the territory's currency reserves and other foreign assets;
- To monitor the stability of the financial system.
Offices
- St. Raphel's Hospital from 1990-1999 - now Consulate-General of the Portuguese Republic in Macao
- 24-26 Calçada do Gaio, San Lorenzo (and the former Convent of the Precious Blood or Convento do Precioso Sangue) 1999-present - next to Escola Leng Nam