HSBC Bank (Mauritius) Limited has launched Islamic banking products for business customers. The bank is introducing two products under the HSBC Amanah brand: a current account and a term investment account. It is expected that more products will be added over time in line with customers’ requirements.
With this launch, HSBC Bank Mauritius becomes the first bank in Mauritius to offer Shariah-compliant banking services.
By making use of the knowledge and global experience of HSBC Amanah, HSBC will provide companies with a presence in Mauritius with access to Shariah compliant banking products.
“I am delighted that HSBC is leading the growth of Islamic Banking in Mauritius,” says Mukhtar Hussain, global CEO of HSBC Amanah. “Our experience in other parts of the world is that business banking customers have demanded banking services that comply with Shariah, and Mauritius, with its strong connections to the Middle East and the Indian subcontinent, is no different. This is a customer-driven business, and HSBC Amanah is one of the world’s most trusted Islamic financial brands.”
“Islamic Banking services are a natural extension of HSBC’s product range as we wish to appeal to investors with Shariah requirements not only from the Middle East but from other jurisdictions using Mauritius as a gateway into Africa and Asia,” says Blair Harden, managing director of HSBC Bank Mauritius. “With HSBC’s global capabilities, we are able to provide world-class HSBC Amanah banking products to our business client base.”
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