HSBC Amanah Malaysia, a wholly owned subsidiary of HSBC Bank Malaysia, is planning to open 26 branches in the country by 2013.
HSBC Amanah offers a full suite of Shariah-compliant propositions for both retail and corporate customers.
HSBC Bank Malaysia deputy chairman and CEO Mukhtar Hussain said that HSBC Amanah’s suite of commercial banking products is suitable for businesses looking for an alternative to conventional banking and also seeking global connectivity.
"As HSBC Amanah aims to provide a world class service platform by leveraging from the HSBC Group and its global connectivity, we are able to offer customers a complete Islamic finance proposition," Hussain said.
In conjunction, HSBC Amanah Malaysia has named Rafe Haneef as executive director and CEO.
"Rafe is a Malaysian who has experience in financial services. I am sure he will take care the business forward," Mukhtar said.