JEDDAH: Euromoney magazine has named HSBC Amanah the Best International Islamic Bank in its Islamic Finance Awards for 2010.
The Euromoney awards, which recognize outstanding performance and innovation in Islamic finance every year, are considered the most high profile accolades in the sector. Euromoney also named HSBC Amanah the Best Sukuk House for its leading role in Islamic debt capital markets.
During 2009 HSBC Amanah grew its operations in Saudi Arabia, the UAE and Malaysia, while expanding in the key growth territories of Indonesia, Qatar and Bahrain.
The business launched HSBC Amanah Premier, the world’s first international Islamic premium banking service, and led activity in the Islamic debt capital markets, structuring and managing many of 2009’s landmark transactions. “Over the last 12 months HSBC Amanah has firmly cemented its status as the premier cross-border provider of Shariah-compliant financial services,” said Mukhtar Hussain, global CEO of HSBC Amanah.
“With the global reach of the HSBC Group at its disposal there is no other bank that can match HSBC Amanah’s cross-border capabilities in either the Shariah-compliant retail or wholesale sectors. We are delighted to receive this award from Euromoney in recognition of that fact,” he said.
Hussain thanked the bank’s customers, regulators, governments and the industry scholars who continued to drive the Islamic finance industry forward to “a place where it can offer Shariah-compliant products that is as competitive and comprehensive as conventional propositions, wherever in the world they are.”