PETALING JAYA: HSBC Group’s global Islamic financial services arm HSBC Amanah has been named Best International Islamic Bank and the Best Fund Manager by Euromoney Magazine in its 2008 Islamic Finance Awards.

In addition, one deal lead managed by HSBC Amanah was awarded the accolade of Best Sukuk Deal.
HSBC Amanah was awarded the Best International Islamic bank award for being the leading provider of Islamic financial products and services across the world, it said.
It said HSBC Amanah has been at the forefront of developing Islamic finance through the provision of innovative solutions to meet client needs supported by nearly 200 dedicated professionals across the globe.

HSBC Amanah global head Nabeel Shoaib said the achievement attested to the hard work and perseverance of his colleagues at HSBC Amanah globally.

He said HSBC Amanah has now an acclaimed reputation for quality products and services, syariah commitment and customer focus living up to its motto as the world local bank.

“In less than a decade, HSBC Amanah has evolved into one of the most respected brands in global Islamic finance that is synonymous with trust, integrity and performance. As international interest in Islamic finance continues to grow and competition intensifies, we are keen, more than any time, to maintain our franchise’s leadership position and take it to new heights,” Nabeel said.
He described the winning of the best sukuk deal award as reflective of HSBC Amanah’s ability to originate and structure transactions for clients across a range of different risks and maturity profiles.

“We have been directly involved in many high profile and innovative cross border Sukuk transactions to date both by quality and quantity; the aggregate value of international sukuk transactions undertaken by HSBC Amanah is US$10 billion (RM32.7 billion),” Nabeel added.

HSBC Amanah recently established regional centres in the UAE, Saudi Arabia and Malaysia to lead the way as knowledge hubs, driving innovation, research & development and expansion into new markets, whilst ensuring that regional HSBC Amanah initiatives are in line with HSBC Amanah’s global vision and strategy. The regional centres works in complete synergy to ensure that HSBC Amanah fully exploits, not only business opportunities, but also best practices.’