New law may bolster Hong Kong market for Islamic finance

The Financial Services and the Treasury Bureau presented feedback last year on the consultation on proposed amendments to the Inland Revenue Ordinance and the Stamp Duty Ordinance to ease development of an Islamic bond, or sukuk, market in Hong Kong.

Wednesday, 16 January, 2013, 4:18am

Lai See

Double standards at double yellow lines still apply

21 Jul 2012 - 12:00am

HK to pave way for Islamic bonds

The government has finally proposed a long-awaited amendment to tax laws to encourage firms to issue Islamic bonds in Hong Kong.

30 Mar 2012 - 12:00am

Islamic banking capital thinks ahead

(The last of a two-part series)

In recent years, Bahrain has rapidly become a leader in Islamic finance, playing host to the largest concentration of Islamic financial institutions in the Middle East.

The Central Bank of Bahrain has established a special fund to finance research, education and training in Islamic finance - the Waqf Fund.

11 Jul 2009 - 12:00am

quiz time

Choose the correct answer

1 Islamic banks get their profit from:

a) fees

b) interest

c) petrol

2 Interest was also forbidden during medieval times in Christian Europe:

a) true

b) false

3 A mark-up is:

a) the difference between fixed costs and variable costs

23 Jun 2008 - 12:00am

FYI: What is Islamic finance and why is the government so keen to make Hong Kong a centre for it?

Chief executive Donald Tsang Yam-kuen's decision to turn part of his most recent policy address into a plea for Islamic investment came as a surprise to many. After all, Hong Kong attracts plenty of other kinds of wealth, and Muslims make up barely 1 per cent of the population.

23 Dec 2007 - 12:00am

Tsang's religious vision destined to be unholy flop

Chief Executive Donald Tsang Yam-kuen has seen a vision of Hong Kong's future. Judging by his recent fervour, it went like this:

6 Nov 2007 - 12:00am

Banking taskforce studying HK entry into Islamic bond market

Hong Kong is a step closer to introducing an Islamic bond market to tap investors in the Middle East after the city's central bank and bankers set up a working group to study details of launching a platform, the chief executive said.

11 Oct 2007 - 12:00am