The Hong Kong Monetary Authority (HKMA) and Bank Negara Malaysia held a joint conference on Islamic finance today to raise the profile of sukuk – the Islamic equivalent of bonds – in the region.
The global sukuk market has expanded rapidly in the past decade, and Peter Pang, deputy chief executive of the HKMA, described sukuk as a "major growth area" in the $1.8 trillion Islamic financial industry.
Malaysia was the most active market in 2013, accounting for over two-thirds of the global issuance
- Auditors find ‘flaws’ in ECB’s crisis management framework
- Economists need to better understand macrofinancial links – BIS paper
- Home truths on Europe’s NPLs
- Central banks lack ‘firepower’ to combat financial crises, says report
- Ukrainian bank owners carried out ‘co-ordinated fraud’, forensic audit says