“a Study on Islamic Financing in Hsbc Bank Middle East Limited”
EXECUTIVE SUMMARY:
This project comprises of mainly two parts .The first part covers a detailed organisational study on HSBC. Hong Kong and Shanghai Banking Corporation, one of the largest banks in the world started its journey in 18th century. In March 1865 the bank opened its first branch in Hong Kong and after one month it opened its second branch in Shanghai. The individual who was inspiration behind the foundation of the bank was Thomas Sutherland (HSBC).
HSBC started with a very simple concept which says that there is requirement of a local bank in order to meet the local needs. Currently it’s headquarter is located in London. It is really world’s local bank as there are almost 8,500 offices in over 85 different countries. At present the bank is operating in all the major regions (Europe, America, Asia-Pacific, Africa and Middle East) in the world.
The other details covered in the first part are about the various departments, products and services offered by this highly world renowned bank. It also covers various innovative management practises implemented in the organisation which contributed to its success and growth.
The second part of this project covers the aspect of Islamic financing implemented in this organisation under the name HSBC Amanah. HSBC Amanah Finance is the Islamic financial services division of the HSBC Group, responsible for the development of Islamic financial products. Its mission is to ensure that HSBC is the leading provider of value added Islamic financial products and services worldwide.
Financial institutions seeking to offer shariah-compliant products typically have a Shariah supervisory board (or at a minimum, a shariah counselor). The shariah board is to review and approve financial practices and activities for compliance with Islamic principles. Such expertise raises the attractiveness of shariah-compliant financial intermediaries to investors considering Islamic banking.
This is a recent addition and is
This project comprises of mainly two parts .The first part covers a detailed organisational study on HSBC. Hong Kong and Shanghai Banking Corporation, one of the largest banks in the world started its journey in 18th century. In March 1865 the bank opened its first branch in Hong Kong and after one month it opened its second branch in Shanghai. The individual who was inspiration behind the foundation of the bank was Thomas Sutherland (HSBC).
HSBC started with a very simple concept which says that there is requirement of a local bank in order to meet the local needs. Currently it’s headquarter is located in London. It is really world’s local bank as there are almost 8,500 offices in over 85 different countries. At present the bank is operating in all the major regions (Europe, America, Asia-Pacific, Africa and Middle East) in the world.
The other details covered in the first part are about the various departments, products and services offered by this highly world renowned bank. It also covers various innovative management practises implemented in the organisation which contributed to its success and growth.
The second part of this project covers the aspect of Islamic financing implemented in this organisation under the name HSBC Amanah. HSBC Amanah Finance is the Islamic financial services division of the HSBC Group, responsible for the development of Islamic financial products. Its mission is to ensure that HSBC is the leading provider of value added Islamic financial products and services worldwide.
Financial institutions seeking to offer shariah-compliant products typically have a Shariah supervisory board (or at a minimum, a shariah counselor). The shariah board is to review and approve financial practices and activities for compliance with Islamic principles. Such expertise raises the attractiveness of shariah-compliant financial intermediaries to investors considering Islamic banking.
This is a recent addition and is