Banking > Islamic Banks
null HSBC Amanah Malaysia
HSBC Amanah Malaysia
HSBC Amanah Malaysia Berhad is a full-fledged Islamic bank wholly owned by HSBC Bank Malaysia Berhad. HSBC Bank Malaysia Berhad is a member of the HSBC Group, which is headquartered in London, U.K. HSBC in Malaysia has a network of 42 HSBC branches, 26 HSBC Amanah branches and HSBC Amanah offsite ATMs in 25 locations.
HSBC has been offering Islamic financial services in Malaysia since 1994. HSBC introduced Islamic banking globally in 1998. In 2004, the HSBC Amanah brand was launched globally with the aim of making HSBC the leading provider of Islamic banking
HSBC's presence in Malaysia dates back to 1884 when the Hongkong and Shanghai Banking Corporation Limited established its first office in the country, on the island of Penang, with permission to issue currency notes. In 1959 it bought the Mercantile Bank, which started operations in Malaysia in 1860.
HSBC opened its office in Malacca in 1909 and by the end of 1912, offices had opened in Ipoh, Kuala Lumpur, Johor Bahru and Kota Bharu.
During the 1920s and 1930s, the bank opened more branches in several states - Sungai Petani branch in 1922, Kuantan in 1929, Muar in 1930, and Kuala Terengganu in 1936.
In Sabah, the first branch opened in Kota Kinabalu in 1947. Branches were set up in Sandakan and Tawau a year later, followed by Labuan in 1957. In Sarawak, branches opened in Kuching in 1958 and 1964 and in Sibu in 1959. In 2006, HSBC was the first foreign bank to be awarded a licence to operate a Takaful (Islamic insurance) business in Malaysia. HSBC Amanah Takaful (Malaysia) Sdn Bhd - a joint venture between HSBC Insurance (Asia-Pacific) Holdings Limited (49 per cent shareholding), Jerneh Asia Berhad (31 per cent shareholding) and Employees Provident Fund Board of Malaysia (20 per cent shareholding) - commenced operations in August 2006.
In March 2019, HSBC exited the Takaful manufacturing business to focus on its banking and wealth operations in Malaysia.
In 2007, HSBC Bank Malaysia was the first locally incorporated foreign bank to be awarded an Islamic banking subsidiary licence in Malaysia, and HSBC Amanah Malaysia Berhad, an Islamic bank wholly owned by HSBC Bank Malaysia, commenced operations in August 2008. HSBC in Malaysia has a network of more than 50 branches.
In November 2007, HSBC Bank Malaysia Berhad was the first locally incorporated foreign bank in Malaysia to be awarded a licence by Bank Negara Malaysia to set up an Islamic banking subsidiary. HSBC Amanah Malaysia Berhad was incorporated in February 2008 and commenced operations in August 2008.
HSBC Amanah has the largest and most comprehensive Islamic proposition of any international bank in Malaysia. HSBC Amanah offers International Currency Business Unit (“ICBU”) and cross-border financing to Malaysian and international Corporates and Islamic FIs. Our Shariah-compliant solutions for corporates and FIs include financing, trade and receivables financing, liquidity and cash management, debt capital markets, treasury and risk management solutions.
Area of Services
HSBC Bank Malaysia offers personal financial services, Commercial Banking, Global Banking and Markets and Islamic financial solutions.
HSBC Bank Malaysia introduced the nation's first automated teller machine (ATM), and launched Electronic Touch Banking and Hexagon - the Group's global PC-based banking financial services platform - in the early 1980s.
HSBCnet has Malaysia's first security technology, Virtual Keyboard, and HSBC customers were among the earliest to use online cheque-image enquiry technology.
Customers of HSBC Bank Malaysia were also the first to benefit from account updates via text messages and since September 2000, customers have been able to trade shares listed on Bursa Malaysia online with selected stockbroking companies. In July 2001, HSBC launched ChequeScan to make deposits faster and simpler.
In 2020, HSBC Malaysia became the first bank in Malaysia to launch a digital account opening journey with 24/7 Self-Service Machine for identification and verification process.
- The Asset Triple A Islamic Finance Awards 2017
- Islamic Deal of the Year (Government of Malaysia (GoM) USD1.5 bln dual-tranche trust certificates)
- Best Sovereign Sukuk (GoM USD1.5 bln dual-tranche trust certificates)
- Best Sukuk (GoM USD1.5 bln dual-tranche trust certificates)
- Best Islamic Deal, Malaysia (GoM USD1.5 bln dual-tranche trust certificates)
- Best Government Guaranteed Sukuk (DanaInfra Nasional MYR4.5 bln murabaha sukuk)
- Best Corporate Sukuk (TNB Global Ventures Capital USD750 mln wakala sukuk)
- Best Local Currency Sukuk (Cagamas MYR375 mln commodity murabaha sukuk)
- Best Islamic Acquisition Financing (Axiata SPV2 Berhad USD500 mln wakala sukuk)
- The Asset Triple A Islamic Finance Awards 2016
- Best Local Currency Sukuk (Cagamas MYR500 mln murabaha sukuk)
- Best Project Finance Deal (Jimah East Power MYR8.98 bln murabaha sukuk)- Best Loan Syndication (SapuraKencana TMC USD2.1 bln equivalent syndicated murabaha term financing facility)
- Best Sovereign Sukuk (GoM USD1.5 bln 10-year & 30-year wakala and murabaha sukuk)
- Best Sukuk (GoM USD1.5 bln 10-year and 30-year wakala & murabaha sukuk)
- Best Quasi-Sovereign Sukuk (Petronas USD1.25 bln wakala sukuk)
- Best Deal – China (Country Garden Real Estate MYR115 mln sukuk)
- Best Deal – Malaysia (GoM USD1.5 bln 10-year & 30-year wakala and murabaha sukuk)
- Euromoney Awards for Innovation in Islamic Finance 2016
- GoM USD1.5 bln 10-year & 30-year wakala and murabaha sukuk
- 10th Alpha Southeast Asia Deal & Solution Awards 2016
- Best Foreign Currency Bond Deal of the Year
- Best Sovereign Bond Deal of the Year
- Visa International Awards 2016
- Largest Payment Volume – Islamic Visa Credit Card
HSBC Amanah Malaysia
Menara IQ, Lingkaran TRX,
Tun Razak Exchange,
55188 Kuala Lumpur, Malaysia
Note: licensed to operate International Currency Business Unit (ICBU)