GLOBAL: HSBC Holdings has reported double-digit growth for its Islamic risk management business in 2011 due to the rising demand for Shariah compliant hedging and investment products.
The business, which offers around 100 Islamic hedging and investment products, is expected to chart similar growth this year according to Abhishek Mishra, the head of multi-asset structuring at HSBC Global Banking and Markets, Middle East and North Africa.
Mishra said that Saudi Arabia made up most of its business last year; while it has also seen growth from other GCC countries.