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Thursday, December 4, 2008

HSBC Islamic arm opens 3 Indonesian branches

Mukhtar Hussain, The Global CEO of HSBC AMANAH

KUALA LUMPUR, Dec 3 (Reuters). HSBC Amanah is the global Islamic banking division of the HSBC Group, and was established in 1998 with the aim of making HSBC the leading provider of Islamic banking worldwide. With more than a hundred professionals serving the Middle East, Asia Pacific, Europe and the Americas, HSBC Amanah represents the largest Islamic banking team of any international bank.
HSBC has a rich tradition of community banking, and HSBC Amanah was established to serve the particular financial needs of Muslim communities. Our mission statement and corporate values reflect this vision.
HSBC Amanah considers Shariah compliance of its business operations as its most important & strategic priority. This is reflected in its Corporate Values, "In developing our products and services, we are committed to the highest Shariah standards in the Islamic banking industry." In addition to Global Shariah Advisory Board and Regional Shariah Committees, HSBC Amanah employs a team of qualified professionals to ensure that the guidance and advice received from the Shariah Committees is implemented in letter and spirit.
HSBC Amanah, the Islamic unit of global bank HSBC Holdings Plc (HSBA.L: Quote, Profile, Research, Stock Buzz), is opening three branches in Indonesia, the lender said on Wednesday. The branches will be in Bandung, Surabaya and Medan and would be the first Islamic retail branches opened by an international bank in the three cities, the bank said in a statement.

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