HSBC Premier embraces Islam

HSBC Amanah today announced the launch of HSBC Amanah Premier – the world’s first Islamic banking service aimed at internationally mobile, affluent consumers.

HSBC Amanah Premier, a cross-border Islamic banking and wealth management service, is an expansion of HSBC’s market-leading premium banking proposition HSBC Premier, offering customers access to the HSBC Premier service with Shariah compliant products. The new service is available in UAE, Saudi Arabia (through SABB Amanah as SABB Amanah Premier), Qatar, Bahrain, Malaysia and Indonesia.

Premier services

HSBC Amanah Premier customers and their families in these countries will receive international recognition and emergency support across 40 markets where HSBC Premier operates from 300 branches, taking their credit history and banking relationships with them. They will have access to Premier banking and wealth management products, complying with the strictest standards of Shariah compliance, in their home market.

Customers of the new service can also view and manage all of their international accounts on one ‘Global View’ through HSBC internet banking, and make free fund transfers between their own accounts.

HSBC’s conventional Premier proposition has already attracted over 3.1 million customers. The launch of HSBC Amanah Premier is a direct response to the growing number of affluent consumers who have a preference for Shariah-compliant banking – currently estimated to be three million people globally.

Cross-border client recognition

For example, HSBC Amanah Premier enables a customer from UAE or Malaysia who is visiting Hong Kong, to be recognised as an Amanah Premier customer and given priority assistance.

This includes a connection to the customers’ home country Relationship Manager or phone banking service and world wide emergency assistance for customers and their families, including emergency cash, next day credit card replacement and expert local advice.

It is an unrivaled service in conventional banking for the international traveler and expatriate, and the extension of the service into Islamic banking is to be welcomed. HSBC Amanah Premier should find a good reception among the growing readership of ArabianMoney.Net.