HSBC Holdings is to significantly scale back the presence of its global Islamic banking operations, it said on Thursday, as part of a wider restructuring at the U.K.-based bank.
The bank will focus its Islamic finance business on customers in Malaysia and Saudi Arabia and keep a limited
presence in Indonesia, the bank said in a statement.
Except for wholesale banking operations, it will no longer offer Islamic products in the United Kingdom, the United Arab Emirates, Bahrain, Bangladesh, Singapore and Mauritius, it added.
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