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HSBC's presence in Malaysia dates back to 1884 when The Hongkong and Shanghai Banking Corporation Limited established its first branch in the country in 1884 on the island of Penang, with privileges to issue currency notes.
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 services worldwide.
In November 2007, HSBC Bank Malaysia Berhad was the first locally incorporated foreign bank in Malaysia to be awarded a license by Bank Negara Malaysia to set up an Islamic banking subsidiary.
HSBC Amanah Malaysia Berhad, a fully fledged Islamic bank wholly owned by HSBC Bank Malaysia and a member of the HSBC Group, was incorporated in February 2008 and commenced operations in August 2008.
The HSBC Group serves around 48 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. The Group serves customers worldwide from over 6,100 offices in 72 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,549bn at 30 September 2015, HSBC is one of the world’s largest banking and financial services organisations.
HSBC Amanah Malaysia complements HSBC Bank Malaysia's comprehensive banking and financing solutions, available to all its customers, by providing a full suite of innovative Islamic products and services to retail and corporate customers.
The establishment of HSBC Amanah Malaysia represents an important milestone for the HSBC Group as it is the first Islamic bank to be established by HSBC
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