06.03.2013 - Hong Kong Islamic finance push won’t challenge regional rivals
Hong Kong's Legislative Council is considering a bill that will ease taxes on transfers of underlying assets of Islamic finance products, giving them equal treatment to conventional instruments;But Hong Kong lacks cultural connections and a large shariah-compliant investor base. Investors might instead be looking to invest in China;The bill only covers assets located in Hong Kong. To include assets in China, China would need to amend its relevant laws for equal tax treatment of shariah-compliant products..............................................Full Article: Source
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