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Islamic finance in Hong Kong

Zul Kepli, Mohd Yazid (2012) Islamic finance in Hong Kong. Hong Kong Law Journal , 42 (3). pp. 809-838. ISSN 0378-0600

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Rapid development and commercialisation within the emerging fi eld of Islamic finance provide strong evidence of its sustainability. The Islamic finance industry has experienced remarkable growth, expanding into a market worth more than US$1 trillion. This consistent growth, along with the industry’s proven ability to safely navigate a global recession and fi nancial crisis while still designing innovative products, indicates its resilience and competitive edge. Hong Kong brought Islamic fi nance into its fi nance portfolio after the former Chief Executive highlighted the desire to acquire a bigger slice of the market in 2007. However, many investors, practitioners and academicians still lack a clear understanding of this new type of fi nancing. This article explains Islamic finance and its current position in Hong Kong, together with the legal and regulatory challenges it faces. It also covers the Hong Kong Government’s March 2012 consultation on proposed amendments to tax legislation to promote the development of a local Islamic bond (sukuk) market.

Item Type: Article (Journal)
Additional Information: 6861/29665
Uncontrolled Keywords: Islamic finance, Hong Kong, Islamic bank
Subjects: K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User: Dr Mohd Yazid Zul Kepli
Date Deposited: 30 Jan 2014 09:26
Last Modified: 30 Jan 2014 09:26
URI: http://irep.iium.edu.my/id/eprint/29665

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