For the first time in the Middle East, HSBC now offers UAE retail and corporate customers access to the credit markets on an execution-only basis. Customers are now able to trade a wide range of global fixed income securities with a specific focus on the rapidly expanding Middle East and North Africa (MENA) region. This service will include both Conventional and Islamic issuance from Sovereign, Quasi-sovereign borrowers as well as Financial Institutions and Corporates.
Speaking about the launch, Ishrat Kiyani, Head of Premium Banking and Wealth Management, HSBC UAE said, "In the current climate of low interest rates and equity market volatility, the retail appetite for bonds has increased substantially. This new initiative aims to meet that demand by offering our private investors exposure to this market for the first time. We are delighted to offer the benefits of this type of fixed income investments to our retail customers in the UAE."
A minimum investment of around US$100,000 is required for a single bond which mirrors the minimum tradable denomination in the bulk of the issues covered. HSBC will provide customers with daily net bid/offer prices (excl. custody charges) which we believe to be extremely competitive versus the marketplace.
With this minimum investment the retail customer is automatically entitled to become a HSBC Premier customer the world's only truly international personalized banking service. With a HSBC Premier account, customers will have access to comprehensive banking and wealth management services that can be accessed from wherever they live or work around the world.
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HSBC Bank Middle East Limited (HSBC)
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 46 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In addition to the branch network the Bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt SAE; and by its associated companies; The Saudi British Bank; British Arab Commercial Bank Limited; HSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Saalam Investment Bank.
Media enquiries to Andrea Jaishankar,
Manager Communications,
HSBC Bank Middle East Limited on 04 4235635
andreajaishankar@hsbc.com
© Press Release 2010
