Hong Kong puts Islamic finance experts, accountants on immigration fast track

Financial professionals with Islamic market experience and accountants can enjoy fast track immigration to Hong Kong from next month, as part of a wider government effort to address the local talent shortage.

The Labour and Welfare Bureau on Tuesday added nine professions to the talent list, which now covers 60 types of jobs that the city needs most to foster a high-value-added and diversified economy.

A spokesman for the Financial Services and Treasury Bureau said authorities hoped to further tap into the Islamic bond market with the help of financial professionals with relevant experience.

“We are looking for financial talent who have a professional understanding of sharia law, which governs the daily activities of Muslims, such as prohibiting charging or paying interests and restricting investment in alcohol and pork products,” he said.

“There are no key performance indicators [on how many professionals to attract], but we are aware that the Islamic finance market is still at a developing stage and we need people with practical, hands-on experience.”

Asked why accountants, which the city appeared to have in abundance, were also added to the list, the spokesman referred to a study conducted by the Hong Kong Institute of Certified Public Accountants (HKICPA) that revealed a serious manpower crunch in the industry.