Hong Kong primes itself for its inaugural sukuk issuance

In seeking to attract corporate investors and to develop capital markets in the city, the government has had to amend certain regulations to facilitate the sale of sukuk. Islamic finance is a rapidly growing cog in the global financial machine and by facilitating sukuk issuances, Hong Kong is angling to get a slice of the over trillian dollar pie.

David Barzilai, Asia Pacific Head of Islamic finance at Norton Rose Fulbright commented that “this should peak interest amongst the banks and bond investors both in Hong Kong, the wider Asia Pacific region and the Middle East. It boosts the credibility of Islamic finance in the wider markets and shows that Hong Kong is able to react quickly to assist its financial services sector.”