Nothing To Be Proud Of: HSBC Saudi connection to cement top underwriter title
On September 18, 2012 · In HSBC, Islamic Banking, Islamic Bonds, Islamic Finance, Saudi Arabia, Shariah Banking, Shariah Bonds, Shariah Finance
HSBC is getting rich. They’re getting rich off of connections to Saudi Arabia and their deep involvement in the Shariah-compliant bond market (known as sukuk).
It seems that nobody underwrites sukuk for the Saudis like HSBC does. This is the same HSBC that has been fined a billion dollars for its illegal business with Iran.
Western investors may wish to take HSBC’s activities into account when making their investment and banking selections…
http://gulfnews.com/business/markets/hsbc-saudi-pipeline-to-cement-top-underwriter-title-1.1077720
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