There are only a few truly global banking institutions that provide a full range of sophisticated shariah-compliant advice, products and services. HSBC leads this select group, making it Euromoney’s best international Islamic bank for 2024.
Its leadership was evident across multiple areas last year, from sukuk, murabaha, trade and supply-chain financing, to sustainable and structured finance, hedging, securities services, wealth and personal banking. Its head of Islamic finance is Mohammed Dawood.
Extensive coverage from wholesale to retail banking, principally through its Malaysia-based Islamic banking business HSBC Amanah, is one of the bank’s key strengths. Combine this with its international presence, especially in the key Islamic markets of UAE, Saudi Arabia and Malaysia, and it creates a powerful mix of global and local expertise.
The bank was involved in many firsts during the awards period. Some of the more high-profile came in the sukuk market, where the bank is a frontrunner in lead managing sukuks across currencies.