Hong Kong is seeking to develop tighter financial and economic relationships with Brunei, specifically in the area of Islamic finance products, reveals Tax-News.com, citing the director of the Hong Kong Economic and Trade Office in Singapore, Subrina Chow.
Further quoting Chow, Tax-News.com notes that despite the issue of Islamic bonds from Hong Kong over the past few years, it is still a relative novice in Islamic finance. The Hong Kong governemnt therefore feels the need to diversify and increase the volume of the Islamic products and services it is currently able to provide.
“Our sound financial services infrastructure and well-established legal system make Hong Kong an attractive location for such investments," says Hong Kong's Secretary for Financial Services & the Treasury, KC Chan. Chan believes that the city's unique advantage lies in its role in bridging the investment links between Mainland China and the Middle East.