It has a team of dedicated Islamic banking professionals in most major financial centres such as New York, London, Riyadh, Dubai, Hong Kong, Malaysia and Singapore. With the size of the Muslim population expected to reach 2.2 billion by 2030, or 26 per cent of the world population, HSBC Amanah expects huge growth in their target markets.
In a recent interview with Gulf News, Razi Fakih, Deputy CEO of Global HSBC Amanah, said that about 80 per cent of the world's Muslims live in Asia and the Middle East. Given that these regions are set to grow faster than the world average, Islamic finance is thus likely to continue growing faster than conventional banking.
HSBC ceased the provision of retails Islamic banking services in the UK, UAE, Bahrain, Bangladesh, Singapore and Mauritius
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