HKMA and Bank Negara Malaysia combine to promote sukuk market


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

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