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Islamic Finance Briefing - Categorized | Banking, Financial Instruments (Credit Cards, Debts, Loans, Mort more

HSBC to pioneer Islamic forex products in Indonesia

Posted on 08 June 2012

HSBC Amanah will offer Islamic foreign exchange forwards and cross-currency hedging instruments in Indonesia starting next month to help Shariah-compliant banks manage risks arising from currency fluctuations.
“For these two products, we are the first to receive approval from the central bank,” Herwin Bustaman, HSBC Amanah’s Indonesia head, said. “Right now Islamic banks are exposed to market risk. This will help the capital markets.”……………………………………….Full Article: Source

 
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