Mar 21 2011 |
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HSBC launches global Shari'ah securities service
HSBC has launched a global securities service for the Islamic market. The offering will allow investment managers, both fully Shari'ah compliant and conventional managers managing Islamic assets, an end-to-end securities services proposition from the fund set-up stage to legal documentation and other related processes, all in a Shari'ah compliant manner.Germain Birgen, global head of HSBC Amanah Securities Services told The Islamic Globe: "While previously, we serviced clients in a number of locations with locally implemented solutions, we can now provide a globally-consistent offering."
He continued: "For asset managers who are increasingly looking to go international and distribute their products beyond their home markets, it is important that they have access to a consistent service proposition in as many countries as possible, for their businesses, and with this new service they can have access to the liquidity, risk management and Shari'ah-compliant investment opportunities offered by HSBC Amanah ."
The service will place a fund manager's assets in a segregated account which will not be commingled with conventional assets and overnight liquidity can be managed using Islamic liquidity management tools which means balanced cash can be kept in a Shari'ah compliant manner.
© The Islamic Globe 2011
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