IslamicFinance.de

According to the Hongkong and Shanghai Banking Corporation (HSBC), #Philippines infrastructure can benefit from the Islamic bond market. HSBC Philippines President Wick Veloso stated that Islamic finance can be a good infrastructure investment vehicle for developing economies such as the Philippines. Earlier this year, Finance Secretary Carlos Dominguez III said the government plans to venture into the panda bond market and Sukuk debt papers. The Philippines intends to spend over P8 trillion on infrastructure and the bulk will be financed through tax revenue. For its part, the cental bank is advocating for the Islamic Banking Act which will effectively allow Islamic Banks to function.