Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Tuesday, March 11, 2008

Euromoney Names HSBC Amanah Best International Islamic Bank

By R Marilyn

Bandar Seri Begawan - HSBC Amanah, the global Islamic financial services arm of the HSBC Group, has recently been nominated Best International Islamic Bank and the Best Fund Manager by Euromoney Magazine in its 2008 Islamic Finance Awards, an HSBC press release said.

In addition, one deal lead-managed by HSBC Amanah was awarded the Best Sukuk Deal.

HSBC Brunei is exploring the possibility of opening a branch of HSBC Amanah in the country with assistance from the HSBC Amanah Regional Centre in Malaysia, according to the press release.

"In less than a decade, HSBC Amanah has evolved into one of the most respected brands in global Islamic finance that is synonymous with trust, integrity and performance.

"As international interest in Islamic finance continues to grow and competition intensifies, we are keen, more than any time, to maintain our franchise's leadership position and take it to new heights," Nabeel Shoaib, Global Head of HSBC Amanah said. HSBC Amanah has recently established regional centres in the United Arab Emirates, Saudi Arabia and Malaysia to lead the way as knowledge hubs driving innovation, research and development and expansion into new markets, whilst ensuring that regional HSBC Amanah initiatives are in line with HSBC Amanah's global vision and strategy.

HSBC Amanah has recently been ranked the eighth largest non-governmental Islamic financial institution by Shariah-compliant assets in the global listing of the Top 500 Islamic Financial Institutions, conducted jointly by The Banker Magazine and HSBC Amanah.

The Hongkong and Shanghai Banking Corporation Limited is the founding and principal member of the HSBC Group with over 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the America, the Middle East and Africa.

With assets of some US$2,150 billion as of June 2007, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.  -- Courtesy of Borneo Bulletin
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