HSBC Amanah

HSBC Amanah is the Islamic financial services division of the HSBC Group. With experienced personnel working from regional offices, its mission is to ensure that HSBC is one of the leading providers of value-added Shariah compliant financial products and services to its clients.

HSBC Amanah is well-placed to understand, structure and deliver financial solutions that are compatible with the requirements of Shariah. It is headquartered in Dubai, and with regional representatives in New York, Riyadh, London, Jakarta and Kuala Lumpur, HSBC Amanah is one of the leading global players in the Islamic finance industry.

As at end of September 2009, HSBC Amanah has USD4 billion assets under management within various asset classes.

HSBC Amanah is guided and supervised by the HSBC Amanah Central Shariah Committee, an independent committee of Islamic scholars. The Committee oversees the development and operations of all HSBC Amanah products and transactions to ensure that they meet the requirements of Shariah. Three scholars of international repute, well-versed in both Islamic law and modern finance, serve on the HSBC Amanah Shariah Committee: Sheikh Nizam Yaquby, Sheikh Dr Mohamed Elgari and Dr Mohamed Imran Ashraf Usmani. The Shariah Committee not only provides initial approvals on the investment objectives and investment strategy of all funds, but also reviews the investments periodically to ensure their continuous compliance to Islamic principles. Moreover, the Shariah board conducts annual audits of all funds to ensure adherence to their rulings during the year.