HSBC incorporates its Islamic bank in Malaysia
In its continuous efforts to provide comprehensive Islamic financial services to the alaysian market, HSBC Bank Malaysia Berhad announces the incorporation of its Islamic banking subsidiary, HSBC Amanah Malaysia Berhad.
The new entity, a full-fledged Islamic bank, is now formally incorporated.
This follows HSBC Bank Malaysia becoming the first locally incorporated foreign bank to be awarded a licence in November 2007 by Bank Negara Malaysia to set up an Islamic Banking subsidiary.
– www.theasianbanker.com (February 29 2008)–