Monetary Authority of Macau

Monetary Authority of Macau

The central bank of Macau. It is responsible for issuing the Macanese pataca. The pataca is pegged to the Hong Kong dollar using a currency board system. That is, the Monetary Authority of Macau is legally obligated to redeem pataca for the equivalent amount of Hong Kong dollars on demand. It was established in 1989 and re-formed in 1999 upon the transfer of Macau from Portuguese to Chinese control
References in periodicals archive ?
In November 2003, the Monetary Authority of Macau issued a circular to banks, requiring that STRs be accompanied by a table specifying the transaction types and money laundering methods, in line with the collection categories identified by the Asia/Pacific Group on Money Laundering.
The Monetary Authority of Macau, in coordination with the IMF, updated its bank inspection manuals to strengthen anti-money laundering provisions.
The Monetary Authority of Macau also cooperates internationally with other financial authorities.