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Sunday, March 14th 2010. 06:58:21 AM.

HSBC Amanah - Islamic Finance

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HSBC Amanah - Islamic Finance


Description:
HSBC Amanah Bank Account

HSBC Amanah Bank Account enables you to manage your day-to-day finances
within the framework of Shariah. Funds deposited in the account are treated
differently to funds in conventional current accounts because they are not
used for interest generation.

You don’t earn or pay interest on the account.
Overdraft facilities aren’t available.
It is free to switch your banking over to HSBC with free everyday
banking including; internet & telephone banking, access to over 1650
HSBC Bank branches, HSBC Amanah Debit Card and fee-free cash
withdrawals in the UK at HSBC cash machines.

An account can be opened at any HSBC Bank branch with the usual
documentation and suitable identification.

HSBC Amanah Home Finance

HSBC Amanah Home Finance enables you to buy your own home within the
framework of Shariah.

Based on the Diminishing Musharakah method of financing, Amanah Home
finance enables you to buy your residential property without paying
interest (riba). If you have a traditional interest based mortgage,
you can also apply to switch to HSBC Amanah Home finance.
This method of financing is generally accepted as being the preferred
method of buying your home within the Shariah framework.
Simply described, we (HSBC Bank Plc) will buy the property jointly
with you. The property will be held by a third party, HSBC Trust
Company, who will hold it in trust for both of us.

Throughout the term, with each payment made, you will pay the bank
rent for the use of the bank’s share of the property and acquire an
additional share of the property which in turn will reduce the bank’s
share in the property.

HSBC Amanah Pension Fund

It's important to plan for your retirement years - the earlier you start
saving, the more money you'll have to really enjoy your retirement - our
Stakeholder Pension maybe for you, with the ability to contribute to a our
Shariah compliant Amanah Pension fund.

How it works

This Amanah Pension Fund is designed to offer investors the
opportunity to grow their money in line with the performance of the
Dow Jones Islamic Titans Index.

The fund invests in company shares from around the world and is
compliant with Islamic Shariah principles.

Stakeholder Pensions are a simple and flexible, low-cost option and
designed with your convenience in mind.

You can contribute to a Stakeholder Pension whether you are in
employment, a fixed-contract worker, self-employed, or even if you're
not working but able to afford contributions

Regular contributions are invested to build up your own pension fund.
You can also make lump-sum contributions whenever you like.
As with any investment related to stocks and shares, the price of
shares and any income from them can go down as well as up. It is
possible that the value may fall below the original investment

Address:
26 College Green
2nd floor
Bristol, B51 5TB
United Kingdom

Contact Details:
Phone: 0800 5877 786


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