UBS Joins Hong Kong Covid Quarantine Payers

Dec 7, 2021Updated May 15, 20251 min read

Swiss financial giant UBS is the latest bank to announce reimbursement plans for employees from Hong Kong’s strict 21-day quarantine for travelers.

For full-time Hong Kong-based employees up to the executive director level, UBS will reimburse up to HK$2,000 ($256) per day to cover quarantine hotel expenses costs to «reunite with immediate family» outside of the city, according to an internal memo.

The reimbursement can total up to HK$42,000 for a single trip only and is available until November 30 next year, barring an earlier relaxation of restrictions by the Hong Kong government.

A spokesperson for the bank confirmed the continues of the memo.

UBS and a number of other global financial institutions have offered financial support to withstand the effects of Hong Kong’s zero-Covid policy.

At $5,384, UBS has taken a slight lead in single payout for quarantine costs, ahead of Morgan Stanley ($5,128), Goldman Sachs ($5,000), and J.P. Morgan ($5,000).

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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