Wednesday, Feb 01, 2012
HONG KONG (Dow Jones)--Hong Kong Financial Secretary John Tsang said Wednesday the government will issue another batch of inflation-linked bonds to help residents cope with rising prices.
Tsang said in his annual budget speech before the Legislative Council that up to HK$10 billion worth of so-called iBonds, carrying a maturity of three years, will be issued under the Government Bond Program.
He said the iBond launched last year was well received and has helped the city's bond market develop.
On the development of Islamic finance, Tsang said the government is close to finalizing draft amendments to legislation which aims to level the playing field for sukuk, or Islamic bonds, and conventional bonds. Market consultation will start in the first quarter, he added.
-By Fiona Law, Dow Jones Newswires; 852-2802-7002; fiona.law@dowjones.com
(END) Dow Jones Newswires
01-02-12 0437GMT
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