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HSBC Amanah Import Finance
- United Arab Emirates: Tuesday, December 13 - 2005 at 16:27
Conducting business in accordance with Shariah law is important to many small and medium enterprises in the Middle East. HSBC Amanah Import Finance is specifically designed to meet this requirement with the added advantage of being offered by a major international bank.
The service is based on the Islamic finance concept of Murabaha and is designed to finance the import of Halal goods.
HSBC Amanah Import Finance has been designed with support and guidance from HSBC Shariah Supervisory Committee to ensure strict compliance with the Shariah. This service has the following benefits:
Shariah compliant services from a global financial institution
Competitive profit rate
Efficiency in processing all your documents
HSBC Amanah Import Finance is based on Murabaha, a type of Islamic financing that is fully compliant with the Shariah. In Murabaha, goods are sold at stated cost plus a profit, with the crucial element in the Murabaha facility being the presence of an underlying Halal asset.
Although Murabaha transactions have been used in the Middle Eastern and Asian countries for many years. HSBC is proud to be the first global bank to introduce them on a truly international scale.
The process is as follows:
• You apply for a Murabaha facility from HSBC
• You identify Halal goods that you wish to import
The Halal goods will be bought by HSBC and sold to you under the Murabaha facility. No interest is charged.
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Tuesday, December 13 - 2005 at 16:27 UAE local time (GMT+4)
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