In view of the massive impact on travel agents caused by the current global financial crisis, representatives of the TIC, including its Chairman Mr Ronnie Ho, Deputy Chairmen Mrs Gianna Hsu and Mr Warren Tong, directors and Executive Director, delivered a letter to the Monetary Authority today, urging it to request banks to resume their previous policy of releasing credit card payments to travel agents in two days, instead of 60 days or even longer.

TIC representatives also met Tourism Commissioner Ms Au King Chi today to request the Government to waive all the fees relating to the Travel Agent’s Licence for one year as it did in the wake of the SARS crisis in 2003. Apart from that, the matter of banks substantially prolonging the time to release credit card payments to travel agents was also discussed.