HSBC Amanah Malaysia Bhd has signed a Memorandum of Understanding with Development Bank of Kazakhstan JSC

/IRBIS, December 2, 09/ - HSBC Amanah Malaysia Bhd, HSBC Kazakhstan and HSBC Bank Middle East Ltd. signed a Memorandum of Understanding with JSC Development Bank of Kazakhstan (KDB), - it's indicated in the report issued by HSBC Amanah Malaysia Bhd today. HSBC Amanah pleased to be selected BRC as Islamic banking counterparty to work together on research opportunities for Sharia financing", - stated in the message. The report also stated that some of these features have already been installed, including structuring and financing of joint projects in the field of Islamic financial instruments, co-financing for customers of each party and promotion of Islamic financing in Kazakhstan. Mr. Musa Abdul Malek Executive Director of HSBC Amanah Malaysia Bhd said that the memorandum also confirms the movement relations HSBC Amanah and BRC in the planning and coordinating joint projects. "These new working relationships, not only will help Kazakhstan develop its potential, but also help to strengthen Islamic financial industry in Malaysia, according to the focus of our country and a growing interest in Islamic finance as an alternative to traditional banking services" - are given in the message words of Mr. Musa Abdul Malik. [2009-12-02]