ID :
166536
Tue, 03/08/2011 - 13:04
Auther :
Shortlink :
https://oananews.org//node/166536
The shortlink copeid
HSBC launches global Islamic securities services
KUALA LUMPUR, March 8 (Bernama) -- HSBC Securities Services (HSS) together with HSBC Amanah today launched HSBC Amanah Securities Services, a global service for Islamic fund managers.
The Syariah-compliant securities services are available globally to Islamic investment managers and traditional investment managers, managing Islamic funds, said HSBC Amanah Securities Services senior manager, Francis Dassou.
Speaking to reporters after the launch Tuesday, Dassou said demand for the services would be great,as global Islamic financial assets are worth about US$1 trillion and this figure is expected to grow further.
Also present at the event were the deputy chairman and chief executive officer of HSBC Bank Malaysia Bhd, Mukhtar Hussain and Deputy Dean of the International Institute of Islamic Banking and Finance, International Islamic University of Malaysia, Professor Dr Younes Soualhi.
HSBC Amanah Securities Services will offer Shariah compliant securities services in 17 markets across the Middle East, Asia Pacific, Europe and Americas.
Among its services are fund set-up and structuring, fund accounting and administration, global custody, transfer agency, banking and treasury services.
This full service solution, which utilises the HSBC Group's capabilities, is the only one of its kind to be reviewed and approved by an independent panel of Shariah scholars.
HSBC Amanah Securities Services extends products and services offered by HSS to Islamic mutual funds, private equity funds, takaful companies, sovereign wealth funds, pension funds, state reserve entities and insurance companies.
HSBC Amanah is the global Islamic financial services business of the HSBC Group while HSS has been providing securities services for over 100 years in 48 markets.
The global assets of HSS under custody are US$5.6 trillion and global assets under administration are US$2.5 trillion as at Dec 31, 2010.
The Syariah-compliant securities services are available globally to Islamic investment managers and traditional investment managers, managing Islamic funds, said HSBC Amanah Securities Services senior manager, Francis Dassou.
Speaking to reporters after the launch Tuesday, Dassou said demand for the services would be great,as global Islamic financial assets are worth about US$1 trillion and this figure is expected to grow further.
Also present at the event were the deputy chairman and chief executive officer of HSBC Bank Malaysia Bhd, Mukhtar Hussain and Deputy Dean of the International Institute of Islamic Banking and Finance, International Islamic University of Malaysia, Professor Dr Younes Soualhi.
HSBC Amanah Securities Services will offer Shariah compliant securities services in 17 markets across the Middle East, Asia Pacific, Europe and Americas.
Among its services are fund set-up and structuring, fund accounting and administration, global custody, transfer agency, banking and treasury services.
This full service solution, which utilises the HSBC Group's capabilities, is the only one of its kind to be reviewed and approved by an independent panel of Shariah scholars.
HSBC Amanah Securities Services extends products and services offered by HSS to Islamic mutual funds, private equity funds, takaful companies, sovereign wealth funds, pension funds, state reserve entities and insurance companies.
HSBC Amanah is the global Islamic financial services business of the HSBC Group while HSS has been providing securities services for over 100 years in 48 markets.
The global assets of HSS under custody are US$5.6 trillion and global assets under administration are US$2.5 trillion as at Dec 31, 2010.
