The TMA participated in the Asian Financial Forum held on 20-21 January 2010 in Hong Kong. Financial market players from overseas and the Mainland gathered at the event and exchanged their views on the theme “Asia in the New Economic Order”. Distinguished speakers included Mr. Dominique Strauss-Kahn, Managing Director, International Monetary Fund; Mr. E Gerald Corrigan, Managing Director, Goldman Sachs and Former President, Federal Reserve Bank of New York; Professor Nouriel Roubini, Professor of Economics, NYU’s Stern School of Business; Professor Liu Mingkang (劉明康), Chairman, China Banking Regulatory Commission; Mr. Wang Chunzheng (王春正), Executive Vice Chairman, China Centre for International Economic Exchange; Mr. Huang Huahua (黃華華), Guangdong Governor, People’s Government of Guangdong Province; and Mr. Tu Guangshao (屠光紹), Vice Mayor of Shanghai. The feedback for the event has been very encouraging.
At the Forum, Mr. Dominique Strauss-Kahn pointed out that the global economies have been recovering in faster speed than expected but were still very weak. He also praised the Asian countries for their good performance in the recent financial crisis. Professor Nouriel Roubini, so called the Cassandra, said in the luncheon on the second day of the Forum, that the economic down turn of America, Europe and over the world has ceased while a V-shape rebound would appear in China and emerging markets in Asia.
The TMA also hosted a workshop entitled “Hong Kong, the Islamic Gateway to China” at the Forum on 21 January. The workshop was focused on the latest developments of Islamic finance in Hong Kong and other parts of the world, particularly in Islamic capital markets. In addition, an overview of the most common Sukuk structures in the market was introduced. We are pleased to have invited Mr. Pius Chong, Managing Director and Head of Transaction Management, Asia-Pacific, The Hongkong and Shanghai Banking Corporation Ltd.; and Convenor, Working Group on Development of Islamic Finance, TMA, as the moderator of the workshop. The panelists: Mr. Y C Cheng, JP, Deputy Secretary for Financial Services and the Treasury (Financial Services), Hong Kong Special Administration Region; Mr. Sam Kwok, Treasurer, Airport Authority Hong Kong; Mr. Saad Rahman, Executive Director, Global Islamic Banking, Calyon; and Ms. Roslinda Ahmad, Associate Director, Head of Debt Market and Corporate Finance, CIMB Islamic, discussed on how the Islamic financial industry reset itself following the financial crisis, and share their insight on what Hong Kong could do to position itself as a preferred Islamic gateway to China. The workshop was very well received with nearly full-house attendance, of about 100 market participants.
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Mr. Pius Chong, the moderator of the workshop
Market practitioners sharing views in the panel discussion
The workshop was very well received |
