HSBC Approved For Selling Islamic Bonds In Hong Kong

HSBC has received approval from the Hong Kong Monetary Authority to sell Sukuk (Islamic Bonds) in Hong Kong, the first local bank in the territory to do so. Leveraging the resources and strength of its Islamic banking division, HSBC Amanah,

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HSBC has received approval from the Hong Kong Monetary Authority to sell Sukuk (Islamic Bonds) in Hong Kong, the first local bank in the territory to do so. Leveraging the resources and strength of its Islamic banking division, HSBC Amanah, the Bank supports the local development of Islamic finance.

“The launch of Sukuk is a first step for us to tap into the markets in the Middle East and other Islamic countries as well as to help further broaden Hong Kong’s capability as a global financial centre,” says Bruno Lee, head of liabilities business and wealth management. “Though the development of Islamic finance in Hong Kong is still in its infancy, there is growing interest in Islamic financial applications among Muslim and non-Muslim investors. People may not want to invest in highly complicated financial products but prefer to go back to basic investment tools. By offering Shariah-compliant products, we hope to provide more alternatives for Hong Kong investors seeking a diversified investment portfolio.”

D.C.

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