David Hodgkinson (page 2 of 2)

What is happening here is smart, and as long as quality, standards and issues like traffic are addressed I think it is sustainable. The customers are now paying for the projects, and not the Government, which is how it should be done.'

Mr Hodgkinson also sees great potential in Iraq, and notes that many of his customers have Iraq as a significant part of their business expansion plans. HSBC has been granted a banking license, and has made no secret that it is looking for a joint venture with an Iraqi private bank with whom to start operations.

'We hope the security issues are soon resolved,' he adds. 'But there is a great deal going on right now, and people just need to be given a chance to develop.

HSBC's regional head is also optimistic about the outlook in Iran - another place with 'a well educated population and tremendous natural resources'. His hope is that the European non-confrontational style will prevail over a more confrontational approach.

Meawhile, HSBC Amanah is making great strides in the Islamic banking market, far ahead of the bank's initial expectations. 'We were not sure how credible an international bank would be as a source of Islamic finance, and have been surprised by the level of acceptance,' says Mr. Hodgkinson.

'But we were very careful to select a very highly qualified and respected Sharia board. It is still early days after six years, but there is undoubted huge potential and rapid growth in Islamic banking.'

Even an hour's interview is hardly enough to wrap up a full overview of HSBC's activities in the region. In Kuwait the bank has applied to become one of the first foreign banks to get a license, and the radical changes in Libya also open up new opportunities. There is just so much happening in the Middle East today, and HSBC has its foot in many doors.