China Readies for Islamic Finance With a Little Help From Gulf - Bloomberg Business:
"The most populous country in the world may be poised to get serious about Islamic finance, and banks in the Gulf Cooperation Council are taking note.
Qatar International Islamic Bank QSC and QNB Capital LLC last week signed an agreement with China-based Southwest Securities Co. to develop Shariah-compliant finance products in the country. Seven months after Hong Kong sold its debut sukuk, China is exploring Islamic finance for projects from hospitals to metro stations, according to London-based Dome Advisory Ltd., which is working with a government-owned fund in Shanghai to finance five projects.
“The Hong Kong sukuk has given more confidence to the Chinese market,” Sheikh Bilal Khan, a Shariah scholar and director of Dome, said by phone on April 16. “Having seen Hong Kong and the U.K. do this, and the fact Islamic finance is growing at a fast rate, in the next three to five years China will be a big player. It’s unavoidable.”"
'via Blog this'
No comments:
Post a Comment