Hong Kong Chief Executive Carrie Lam said that she has piles of cash at home because banking services are currently not available to her.

This predicament is a result of sanctions imposed on her by the U.S. government since August this year, after Beijing imposed a controversial national security law on the city in June.

Very honourable to be in these circumstances: Lam

Lam said in an interview with the Hong Kong International Business Channel that no banking services have been made available to her. Bloomberg also reported her comments.

She said: "I'm using cash every day, for all the things. I have piles of cash at home because the government is paying cash for my salary, because I don't have a bank account."

"I don't want to deter people from serving in a public position, because it's very honourable, in this set of circumstances, to be so unjustifiably sanctioned by the U.S. government, it's an honour," said Lam.

According to the Hong Kong Free Press, Lam is paid over HKD$5.2 million (S$897,103) per year as chief executive.

This means that she would be receiving over HKD$430,000 (S$78,300) in cash each month.

Why is the U.S. sanctioning Lam?

The sanctions targeted those considered by the U.S. to be interfering with the territory's autonomy, and were placed on Lam and 10 other Hong Kong and mainland Chinese officials.

"The United States stands with the people of Hong Kong and we will use our tools and authorities to target those undermining their autonomy," said Secretary of the Treasury Steven Mnuchin in a statement on his department's website.

Lam previously hit back at the move, calling the sanctions "shameless and despicable".

Watch part of the interview here:

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Top image from Hong Kong International Business Channel/FB.