HSBC announces new senior management appointment

Mr Khashabi assumes his new post, based in Dubai, with immediate effect.

Mr Khashabi has previous experience with HSBC in the Middle East, most recently as Head of Personal Financial Services in Qatar. He has also worked in the credit, personal banking, and branch management areas of HSBC.

HSBC Amanah is the global Islamic financial services division of the HSBC Group, established in 1998 with the aim of becoming the leading provider of value added Islamic financial services across the HSBC Group. HSBC Amanah offers a full menu of Shariah compliant services to HSBC's personal, corporate and institutional clients covering Personal Financial Services, Wealth Management solutions, Trade Finance, Project Finance, Structured Finance, Liquidity Management and Private Equity.

In his newly created position, Mr Khashabi will be responsible for developing and enhancing the provision of HSBC Amanah products and services to HSBC Bank Middle East 's personal and corporate banking clients in the region.

In July 2003 HSBC launched Amanah Personal Finance, Shariah compliant cash financing facility, becoming the first international bank to provide Shariah compliant products in the UAE.

David Hodgkinson, Chief Executive Officer and Deputy Chairman, HSBC Bank Middle East Limited said, "HSBC Amanah has developed a range of Shariah compliant services in response to our Muslim clients' needs. We have invested significantly in ensuring that the services we provide meet the highest standards of Shariah compliance and are also competitive with our conventional products. Adel's appointment will help in further reinforcing HSBC Amanah's distinction of being able to offer Muslim customers the service, technology and security of a global bank while allowing them to manage their finances in accordance with Shariah principles."