Qatar Islamic Bank Closes USD 100 Million Islamic Trade Facility with HSBC Bank Middle East

HSBC Bank Middle East (HBME) has completed its inaugural Islamic trade facility in the Middle East, North Africa and Turkey (MENAT), worth USD 100 million with Qatar Islamic Bank (QIB) in January 2021, according to a statement issued to the Qatar Stock Exchange on the 14th of February 2021.

Why it Matters?

This is the inaugural transaction for HBME within the MENAT region, with Qatar being the first country where the facility was executed, according to Abdul Hakeem Mostafawi, Chief Executive Officer (CEO) of HSBC Qatar. Qatar was chosen for HBME’s inaugural Islamic trade facility in the Middle East given its high number of internationally recognised Islamic financial institutions with diverse products and a high demand for Shariah-compliant ban...