HSBC Holdings Plc plans to become the first international bank to offer insurance products compliant with Islamic law, the Financial Times said, citing an executive of the company.
HSBC, the world's second-largest bank by market value, wants to introduce products in the Middle East states, including Saudi Arabia, and in countries with large Muslim populations, such as Britain, according to the Financial Times. The new products may be introduced by the end of this year.
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