HSBC Launches The First Shariah Compliant

The world's local bank

HSBC Launches The First Shariah Compliant Business Account In Indonesia

HSBC Indonesia has launched HSBC Amanah Business Account -iB, a new proposition for business customer which complies with Shariah principles. By making use of the knowledge and global experience of HSBC Amanah, HSBC will provide its Indonesian corporate clients, especially in the SME segment, an access to Shariah compliant banking products.With this launch, HSBC becomes the first international bank in Indonesia to offer Shariah compliant banking services for corporate customer.

"HSBC is committed to support the growth of Islamic Banking in Indonesia," said Sanjiv Sud, Head of HSBC Amanah said," Our experience in other parts of the world is that business banking customers are demanding banking services that comply with Shariah principles, and Indonesia with its strong connections to the Middle East, is no different. This is a customer-driven business, and HSBC Amanah is one of the world's most trusted Islamic financial brands."

The proposition has been previously launched in other markets where HSBC has strong presence. Middle East and Malaysia are among the regions which have witnessed the success of HSBC Amanah Business Account. The international network and best practices will be applied in Indonesia.

Jeffrey C Tjoeng, Head of Business Banking HSBC Indonesia added: ”Answering the market demand on Shariah Compliant banking products, HSBC Indonesia proudly presents HSBC Amanah Business Account-iB for its corporate customers, in particular the SMEs. With HSBC Amanah Business Account-iB, they can enjoy the best and most comprehensive shariah compliant banking service according to their needs. It is our commitment in line with our vision of ‘The World’s Local Bank’ to continuously support the SMEs through our various products and services.”

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For further media enquiries please contact:
Andrew Hallatu : +6221 3040 5382 / 0818 077 18 202; andrewhallatu@hsbc.co.id
Devi Kusumaningtyas: +6221 3040 5394/ 0817 9947 935 or email to: devikusumaningtyas@hsbc.co.id

Notes to editors:

1.	HSBC Holdings plc The Hongkong and Shanghai Banking Corporation Limited
	The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which, with over 8,000 properties in 88 countries and territories and assets of US$2,364 billion at 31 December 2009, is one of the world’s largest banking and financial services organisations.

2.	HSBC in Indonesia
	HSBC has operated in Indonesia since 1884. It now provides personal financial and corporate banking services through 115 outlets, spread through out 10 major cities: Jakarta (World Trade Centre, Pondok Indah, Kebon Jeruk, Sentral Senayan, Pluit, Kelapa Gading, Mangga Dua, Wisma 46, Melawai, Sunter, BSD, Gajah Mada, Plaza Kuningan, and Talavera), Surabaya, Medan, Bandung, Semarang, Solo, Batam, Bogor, Tangerang, and Depok. HSBC is a leading provider of personal financial services, corporate, commercial banking, institutional banking, treasury capital markets and Amanah Syariah services in Indonesia