Is the capital for the establishment of this Islamic banking business from Shariah compliant sources?
The HSBC Amanah Shariah Supervisory Committee has approved the utilisation of conventional capital for the purposes of Shariah compliant financing while restricting the usage of funds in generating Islamic assets only. It is perfectly reasonable to trade or have financial dealings in accordance with Shariah guidelines with people of different religions and in a manner that does not promote activities that are haram. In our case HSBC’s capital is helping to promote the concept of Islamic banking and helping Muslims around the world to meet their financial needs according to their principles.
