Mar 10 2011 |
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HSBC Announces Global Islamic Securities Services Launch
Arindam Das (left), Regional Head of HSBC Securities Services, Middle East and Africa, chats with Dr Yusuf Talal DeLorenzo (right), a world renowned Shariah scholar who is key-note speaker at the Dubai launch event on 8 March.
HSBC Securities Services (HSS), in conjunction with HSBC Amanah , the HSBC Group's global Islamic financial services division, today launches HSBC Amanah Securities Services.
Shariah compliant securities services are now available globally to Islamic investment managers and traditional investment managers managing Islamic funds. At launch, HSBC Amanah Securities Services has a superior footprint, offering Shariah compliant fund accounting and administration, global custody, transfer agency, banking and treasury services in 17 markets across the Middle East, Asia-Pacific, Europe and the Americas. With teams on the ground in each market, our clients receive the advice and assistance they need in their own time zone, language, and currency.
Germain Birgen, Head of HSBC Amanah Securities Services, says 'While we have serviced our clients in a number of locations with locally implemented Islamic solutions, we now present a globally consistent offering. Customers stand to benefit from our end-to-end Shariah compliant securities services proposition, including access to HSBC Amanah 's liquidity, risk management and Shariah compliant investment solutions.'
Razi Fakih, Deputy CEO of Amanah says 'Our team of Shariah scholars have ensured that HSBC Amanah Securities Services is certified by, and strictly aligned to, Shariah principles. The launch of HSBC Amanah Securities Services demonstrates our continuing commitment to offering best in class products and services that are designed to meet the needs of our customers.'
HSBC was named Islamic Custodian of the Year by The Asset at the Triple A Islamic Finance Awards 2010, which recognises and honours leading players in the Islamic finance market. HSBC Amanah recently won 'Best International Islamic Bank' at Euromoney's Islamic Finance Awards 2011 for the second consecutive year.
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HSBC Amanah Securities Services
HSBC Amanah Securities Services will offer Shariah compliant securities services initially in 17 markets in the Middle East, Asia-Pacific, Europe and the Americas.
HSBC Securities Services ("HSS")
HSS provides fund administration, custody and related securities services around the world with more than 8,000 employees and c2,000 clients. HSS' global assets under custody are USD 5.6 trillion and global assets under administration are USD 2.5 trillion as at 31 December 2010.
HSBC Amanah
HSBC Amanah is the global Islamic financial services business of the HSBC Group. It was established in 1998 with the aim of making HSBC the leading provider of Islamic financial services worldwide. With established and successful operations in the Middle East, Asia-Pacific and Europe, HSBC Amanah offers the largest and most comprehensive Islamic proposition of any international bank. With the global resources of the HSBC Group at its disposal, and the largest Islamic finance team of any international bank, HSBC Amanah is uniquely positioned to understand, structure, and distribute financial services that are compatible with the requirements of Shariah (Islamic Law).
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,455 billion at 31 December 2010, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.
The Asset Triple A Awards
The Asset Triple A Awards are Asia's defining recognition for excellence in the industry. Its reputation of having a stringent methodology to select the winners has been built over the last 20 years. The awards are decided by The Asset's Board of Editors who collectively have several decades' worth of experience evaluating industry awards in Asia.
Euromoney Islamic Finance Awards 2011
The Euromoney Islamic Finance Awards are widely considered to be the most high profile accolades in the Islamic finance industry and annually recognise outstanding performance, quality, service, and innovation in the sector.
For further information, please contact:
Natalie Bennett (852) 3663 5301 nataliebennett@hsbc.com.hk
Rosana Gulzar Mohd (971) 44235607 rosanagulzar@hsbc.com
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