HSBC Amanah, the global Islamic financial services business of the HSBC Group, has opened a new dedicated Islamic banking branch that will offer Shariah compliant products and services in Qatar, marking the first Islamic banking branch in the Mena region outside of Saudi Arabia.
HSBC said that the new branch will serve retail and corporate customers. The services include HSBC Amanah Premier, an international Islamic banking service, which is an expansion of HSBC’s banking service HSBC Premier; HSBC Advance, an international current account and banking service proposition, as well as international trade finance and corporate banking services.
Michael Geoghegan, CEO of HSBC Group, said: “By combining our Islamic banking expertise in Saudi Arabia and Malaysia with our international reach, we can meet the increasingly sophisticated requirements of Islamic banking customers in many parts of the world.”
Abdul Hakeem Mostafawi, CEO HSBC Qatar, said: “The opening of this branch underlines our commitment to Islamic finance in Qatar and the Middle East. This is a milestone for HSBC Qatar and HSBC Amanah is delighted to support this growing need with the opening of this new branch.”