Hong Kong makes markets accessible to Islamic finance
JAKARTA, Indonesia – Hong Kong is seeking to diversify its financial markets to be more accommodating to Islamic finance.
This includes amending laws to create a tax structure for sukuk comparable to that for conventional bonds.
Hong Kong is making several efforts to attract Islamic finance and strengthen its ties with Indonesia and other ASEAN countries.
This was revealed during Hong Kong’s Chief Executive John Lee’s week-long visit to Indonesia.
He signed 15 memoranda of understanding (MoUs) with Indonesia.
“We strive to enhance our financial market’s diversity, including in Islamic finance. Over the past decade, we have created a conducive platform for sukuk issuance, including amending our laws to provide a tax structure for sukuk that is comparable with that for conventional bonds, “he said.
The MoUs covered green finance, maritime services, meteorology, aerospace, and the promotion of sustainable finance.
Lee invited Indonesia and other ASEAN countries to join Hong Kong in promoting the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
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