HSBC to restructure its Islamic finance business

The HSBC Group is concentrating more in Malaysia and Saudi Arabia and less in Indonesia in its Islamic finance offering to customers.

This is brought by a strategic review of its Islamic finance business to drive growth and improve returns on investment by restructuring or exiting businesses that do not meet its investment criteria.

However, HSBC will continue to offer wholesale Islamic financing/Sukuk products to its global client base through its operations in Malaysia and Saudi Arabia.

Following the restructuring, HSBC will retain 83% of the Group's Islamic business revenues.

In Saudi Arabia, Islamic financial products will be offered through The Saudi British Bank (SABB), in which HSBC Holdings plc indirectly holds a 40% shareholding. HSBC Saudi Arabia Limited, in which HSBC Holdings plc indirectly holds a 49% shareholding, will offer Islamic investments and wholesale Islamic financing/Sukuk products to customers globally. HSBC is the market leader in Sukuk issuance.

Moreover, the HSBC Group will stop offering Shari'ah compliant products and services in the UK, the UAE, Bahrain, Bangladesh, Singapore and Mauritius, with the exception of wholesale Islamic financing/Sukuk products that will continue to be offered in these jurisdictions and globally through HSBC Saudi Arabia Limited.

Also Read

Malaysia, UK tout Islamic finance to bridge green funding gap

Maybank kicks off Islamic banking operations in the Philippines

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit