Islamic Finance: the Experience and the Way Forward @HKU

Hong Kong government has recently raised US$1 billion in its debut Islamic bond issue – becoming the fourth Asian government to issue Islamic bonds after Indonesia, Malaysia and Pakistan. The move is seen as an evidence of the city’s aspiration to become the new gateway for Islamic finance. The global Islamic finance is now worth about US$1.3 trillion worldwide. Apart from its wealth potential, what is most compelling about Islamic finance are its ethical principles and strong corporate governance based on Sharia law. According to Al-Quran 30:39, “Whatever usury (interest) you give so that it may increase in the wealth of the people, it does not increase with Allah.” The talk will explore concepts of Islamic finance and its role in the global financial system.

Date : 19 Sep 2014 Time: 7:00pm - 8:30pm Venue: KB223, Knowles Building Speaker: Mufti Taqi Usmani (Chairman, Centre for Islamic Economics, Pakistan)