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ARTICLE · 10 FEBRUARY 2012

Islamic Finance & China

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Any correlation between Greater China (PRC and Hong Kong), Taiwan and Islamic finance may not, at first, be readily identifiable but such connections exist and are continuing to grow.

Hong KongWealth Management
Jeffrey Kirk
Jeffrey Kirk
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Originally appeared in Islamic Finance News

The Correlation

Any correlation between Greater China (PRC and Hong Kong), Taiwan and Islamic finance may not, at first, be readily identifiable but such connections exist and are continuing to grow. This is not surprising. The reasons for the growth in importance of each of China, Hong Kong and Taiwan in the context of the global economy as financial centres and inward- and outward investment target jurisdictions have been well documented.

Whilst the Muslim populations in each of these China States and regions is negligible in comparison to the MENA region, Indonesia and Malaysia, it is more the motivation of growing these jurisdictions as international financial centres, which offer a myriad of specialist products and services, that drives this correlation. This is especially the case for Hong Kong which, in December 2011, leapfrogged both the US and the UK to top the World's Economic Forum's Financial Development

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