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The Financial Secretary, Mr John C Tsang, today (March 18) continued his visit to Kuala Lumpur, Malaysia.
Mr Tsang started the day by calling on Governor of Bank Negara Malaysia, Tan Sri Dato' Dr Zeti Akhtar Aziz, followed by a roundtable discussion with prominent Malaysian bankers and businessmen on Islamic finance.
During the discussions, Mr Tsang outlined Hong Kong's efforts in developing a platform for Islamic finance. He said Hong Kong is currently working to adjust and clarify the relevant tax laws with a view to providing a level playing field for Islamic bonds vis-ˆj-vis conventional bonds.
Four areas of collaboration had been identified. They are: financial infrastructure development; enhancement of financial interlinkage; cross border business opportunities and human capital development regarding Islamic finance.
In the afternoon, the Financial Secretary gave a speech at a business luncheon jointly organised by the Malaysian International Chamber of Commerce and Industry and the Associated Chinese Chambers of Commerce and Industry of Malaysia.
This was followed by a visit to the Securities Commission Malaysia to meet its chairwoman, Tan Sri Zarinah Anwar. Both sides exchanged views on the securities business in Malaysia and in Hong Kong. Mr Tsang invited Malaysian institutions to make good use of the well-established capital markets in Hong Kong and to use Hong Kong as a gateway to tap business opportunities in China.
In the evening, Mr Tsang will attend a dinner hosted in his honour by the Group Chief Executive of CIMB Group, Dato' Sri Nazir Razak, to be attended by prominent businessmen in Kuala Lumpur.
Ends/Thursday, March 18, 2010
Issued at HKT 16:18
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