It has taken nearly two years, but Indonesian mobile telecoms operator Axis has secured $1.2bn of sharia-compliant financing. For many of the players involved, it was their first dealing with sharia principles, presenting HSBC and its Saudi affiliate with a complex task.
Latest articles from Analysis & Opinion
Frugal Estonia's digital route to recovery
September 1, 2011Estonian prime minister Andrus Ansip talks to Hugh O'Shaughnessy about the country's e-revolution, the power of its ID card, and the decision to reduce taxes for business and private citizens.
An open letter to the minister of finance of Ruritania
September 1, 2011Pathological procrastination by sovereign debtors in acknowledging the severity of their problem and commencing the necessary workout process can make the ultimate resolution of the crisis far more costly for all concerned.
Armenia takes a gradual approach to reform
September 1, 2011Armenia’s finance minister and former central bank vice-president Vache Gabrielyan is focusing on maintaining the country on its path of recovery, controlling inflation and starting a reform of its pension system.
South Korea's shifting economic focus
September 1, 2011South Korea has the second highest debt-to-disposable income ratio in the world, but Choongsoo Kim, governor of the Bank of Korea, insists that the country’s financial system is not at risk, and suggests that balancing the focus between export and domestic demand will lead to sustainable economic growth.
Lázaro Campos: Sibos 2011 set to cover all bases
September 1, 2011From regulation to cloud computing, Swift's CEO, Lázaro Campos, gives The Banker his thoughts on the themes, topics and issues likely to dominate 2011's Sibos conference in Toronto.
How technology keeps banks and customers connected
September 1, 2011N Ganapathy Subramaniam, president of TCS Financial Solutions, tells The Banker how technology can help banks meet customer demands, boost efficiency and keep pace with the competition amid tough market conditions.
AFDB: All Africans must benefit from the continent's economic growth
September 1, 2011Economically, Africa has been growing apace according to Donald Kaberuka, the president of the African Development Bank. But socially the continent is still struggling. The north African uprisings show that now, more than ever, it is time to focus on what Africans actually want.
No new alternative means old world rules apply
September 1, 2011From multilaterals to ratings agencies, institutional bias is rife, but it is not only threatening their reputation, it is also proving counterproductive for the very countries that it supposedly favours.
Transaction banking feels the squeeze
September 1, 2011Transaction banking has had three good years since the 'masters of the universe' slunk off to lick their wounds in the wake of the global financial crisis. Cash management, trade finance, securities custody and card payment operations all became the unlikely stars of the post-crisis landscape, but now times are getting tough for them as well. Is the honeymoon over for transaction banking?