HSBC Amanah, the Islamic banking division of HSBC, has launched a range of products and services to meet the banking needs of corporates in Bahrain and Bangladesh.
This is an expansion of HSBC Amanah’s corporate banking presence in Saudi Arabia, the United Arab Emirates, Qatar, Malaysia and Indonesia.
HSBC Amanah corporate banking products available in Bahrain include business accounts, investment solutions, working capital finance solutions, trade finance solutions.
In addition, HSBC Amanah is also planning to open a branch dedicated to Shariah-compliant banking in Bangladesh this December.
According to the bank, besides conventional corporate banking products, companies will have the option to use a range of Shariah-compliant products such as current account, short notice deposit, term investment, term finance, short-term finance, payments and cash management, corporate internet banking, foreign exchange services, import services, and guarantee solutions.
Besides Bahrain and Bangladesh, HSBC has also launched Shariah-compliant export financing products in the UAE.
With export financing products, exporters in the UAE can use Shariah-compliant financing to produce and ship their goods to customers.