John Tsang
There has been a plan by HSBC to implement the Islamic finance system in Hong Kong, although the realisation has yet to be implemented. In 2007, the HK Islamic Index was established by Arab Chamber of Commerce and Industry in Hong Kong to support Hong Kong's ambitions to develop into an Islamic financial centre. In the same year, Financial Secretary John Tsang announced a plan to capture part of the world's Islamic finance pie, which is worth around US$1.3 trillion. Hang Seng Bank has issued a retail Islamic fund in November 2007.