HSBC opens Shariah banking branch

From left, Sanjay Prakash, CEO of HSBC, Bangladesh; Guy Harvey-Samuel, head of international, HSBC Asia Pacific, and Razi Fakih, global deputy CEO of HSBC Amanah, inaugurate the bank's shariah compliant financial services unit, HSBC Amanah, at a programme at Sonargaon Hotel in Dhaka yesterday. Photo: HSBC

HSBC in Bangladesh yesterday opened a new branch in Gulshan fully dedicated to Shariah banking.
The new Shariah banking branch was the reflection of the bank's commitment to its clients, said Sanjay Prakash, chief executive officer (CEO) of HSBC Bangladesh, at a press conference at Sonargaon Hotel in Dhaka.
“We have a huge pressure from the customers in the country to launch a fully dedicated Shariah banking operation,” he added.
Prakash said they went for Islamic banking strictly following the rules of Shariah banking.
“We are confident that HSBC Amanah will allow the customers of Bangladesh to unlock a world of potential while living with their values,” the chief executive said.
HSBC Amanah is the bank's Shariah compliant financial services unit.
About the experiences of Sahirah banking, Razi Fakih, the global deputy CEO of HSBC Amanah, said his bank has four layers of committees to monitor the Shariah banking activities globally.
“We have internal scholars in the first layer, regulatory and local committees in the second layer, central Shariah board in the third and finally global Shariah board in the fourth layer,” he added.
Guy Harvey-Samuel, head of international, HSBC Asia Pacific, said the Amanah customers of the new branch would also enjoy world-class services and global connectivity like the general customers.
The new flagship branch of HSBC Amanah is located in Gulshan-2 where an exhibition of Islamic calligraphy by Murtaza Baseer started yesterday to run until the end of the month.