HSBC launches Islamic securities services for fund managers
The UK bank is seeking a bigger share of the $60 billion market for sharia-compliant funds under management by globally standardising its securities services offering.
HSBC has launched a suite of securities services for Islamic fund managers in a bid to expand its 10% share of the $50 billion–$60 billion in sharia-compliant funds under management globally, a market that has seen minimal growth since the end of 2009.
HSBC Amanah Securities Services offers fund accounting and administration, global custody, transfer agency, banking and treasury services in 17 markets in the Middle East, Asia-Pacific, Europe and the Americas.
The services are a…
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