In order to consolidate Hong Kong’s position as an international financial centre and tap the fast growing market of Islamic finance, the HKSAR Government indicated in the 2009/10 Hong Kong Budget that it would work on improving Hong Kong’s regime to facilitate the development of Islamic finance in Hong Kong.
In March 2012, the HKSAR Government launched a two-month public consultation on the proposed legislative amendments to facilitate the development of the Islamic bonds (i.e. sukuk) market in Hong Kong………………………………………..Full Article: Source