Hong Kong’s Sukuk bill is due to be completed by 2013, but according to interest insiders market interest has long gone. Although a bill be passed quickly into law local firms have lost their once healthy appetite for Sukuk, reports Reuters, citing said Marcellus Wong, Co-Chairman of the taxation policy committee at the Taxation Institute of Hong Kong.
“It is good to have the framework in place but market interest has gone. The consultation was expected a few years back; the market is not that buoyant now,” Wong is quoted as saying. “It is already a few years late.”……………………………………….Full Article: Source