Hong Kong Showcase on Islamic Finance held in Dubai and Jordan

The Hong Kong Monetary Authority (HKMA), Treasury Markets Association (TMA) and Hong Kong Trade Development Council (HKTDC) jointly presented the Hong Kong Showcase on Islamic Finance in a roadshow in the Middle East which took place on 11 May 2008 (Sunday) in Dubai, United Arab Emirates and 12 May 2008 (Monday) in Amman, Jordan.

The Showcase brought together distinguished speakers and financial market participants from Hong Kong and the Middle East to share perspectives, experiences and insights on how to meet the new challenges and exploit the growing opportunities arising from the prospering Islamic finance businesses.

Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, remarked that "we fully support the Government's key initiative in introducing an Islamic finance platform in Hong Kong. Both the Middle East and Hong Kong will benefit from the significant momentum and growth opportunities that it brings to international financial markets. There is much that the Hong Kong platform can offer to promote the growth of Islamic finance by matching the investment demand of Islamic economies with the opportunities available in Mainland China and the rest of the world".

Mr Eddie Yue, Chairman of the TMA Executive Board, said that "the financial industry in Hong Kong should seek to become an important player in the booming Islamic finance arena. In this regard, the TMA can play a significant role in providing an avenue for open and useful discussions and the sharing of experiences from experts in this field".

"Hong Kong is making headway in forging a closer economic relationship with the Middle East through the solid progress it is realising in the area of Islamic financing," said Mr Fred Lam, Executive Director of the HKTDC. "We at the HKTDC are seeking to build on this momentum by continuing to facilitate closer business ties between the two areas, and to bring more Middle East delegates to Hong Kong to understand our markets, particularly during the second Asian Financial Forum, a high-level conference to be held in Hong Kong in January 2009."

The events were supported by major financial institutions active in Hong Kong. More than 200 representatives from commercial banks, investment funds, asset managers, insurance companies, and market professionals and legal practitioners from the Middle East and neighbouring economies, including Abu Dhabi, Bahrain, Dubai, Jordan, Kuwait, Malaysia and Singapore, participated in the Showcase.

Hong Kong Monetary Authority
Treasury Markets Association
Hong Kong Trade Development Council
13 May 2008

Eddie Yue, Deputy Chief Executive of the HKMA and Chairman of the TMA Executive Board, delivers the welcome address in the Showcase in Dubai.

Exchange of souvenir between Eddie Yue and Dr. Nasser Saïdi, Chief Economist of the Dubai International Financial Centre (DIFC) Authority who was the keynote speaker in the Showcase in Dubai.

The panel session on "Tapping Islamic Finance Opportunities in Hong Kong". From left to right: Craig B. Lindsay Managing Director, CITIC Securities International; Muzaffar Hisham, Deputy Chief Executive Officer, CIMB Islamic Bank; James H. Lau Jr., Chief Executive Officer, Hong Kong Mortgage Corporation; Anita Fung (moderator), Treasurer and Head of Global Markets, Asia-Pacific, The Hongkong and Shanghai Banking Corporation Limited; Martin Wheatley, Chief Executive Officer, Securities and Futures Commission Hong Kong; Lawrence Fok, Executive Vice President, Hong Kong Exchanges and Clearing Limited; Afaq Khan, Chief Executive Officer, Standard Chartered Saadiq; and Rushdi Siddiqui, Global Director Islamic Indexes, Dow Jones Indexes.

Audience in the Showcase in Dubai.