www.bloomberg.com -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 in a telephone interview yesterday. “Right
now Islamic banks are exposed to market risk. This will help the
capital markets.” (source)
To contact the reporter on this story:
Liau Y-Sing in Kuala Lumpur at
yliau@bloomberg.net
To contact the editor responsible for this story:
Sandy Hendry at
shendry@bloomberg.net
Source: http://www.bloomberg.com/news/2012-06-07/hsbc-to-pioneer-islamic-forex-products-in-indonesia.html - June 7, 2012
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