The Japan Bank for International Cooperation, a government organization in Japan, will make Japan the first G-7 country to issue a government sukuk, with the announcement that it will launch a $300 - $500 million sukuk with the technical assistance from Malaysia. In addition to the JBIC sukuk, Japanese financial companies are entering the industry as well.
The IFSB and the Hong Kong Monetary Authority (HKMA) jointly held a conference on Islamic finance and, in particular, ways for Hong Kong to begin catching up with other Asian countries, particularly Malaysia, in developing an Islamic finance industry. The keynote speaker was Dr. Zeti Akhtar Aziz, the central bank governor of Bank Negara Malaysia.
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