From Arabnews.com: Another sign that the Chinese island enclave of Hong Kong, the world’s third largest financial center after New York and London, means business in facilitating Islamic finance in its jurisdiction is the announcement in the 2009/10 budget that the Hong Kong Special Administrative Region government will send a draft law to the Legislative Council during this year aimed at creating a level playing field between Islamic financial products and conventional ones.

The move has been widely welcomed by Islamic finance market players in the region and further afield in GCC (Gulf Cooperation Council) countries and Europe…… Full Article: Source