HSBC is planning to add 1,000 staff members in its Personal Financial Services unit to support its growing Shariah-Compliant banking unit, Amanah.

HSBC Amanah is already the largest Shariah-Compliant Bank in the Western world and it came under a great deal of scrutiny when it was revealed that its then-chairman of its Global Shariah Supervisory Board, Mufti Taqi Usmani, was a Jihadist who endorsed violence against non-Muslims and likely had ties to the Taliban.

Mufti Usmani is no longer on HSBC Amanah’s Shariah Board, but, in a move of astonishing cynicism, HSBC merely replaced him with his son, Muhammad Imran Ashraf Usmani:

http://www.hsbcamanah.com/amanah/about-amanah/islamic-banking/shariah-supervision/details.html#usmani

As regular SFW readers know, one of the chief concerns about Shariah-Compliant Finance is the system of Zakat which is inherent to it. Zakat is a form of obligatory tything in Islam in which 2.5% of net worth is required to be donated to the system of Zakat. The problem stems from the fact that, according to Shariah law, one of the eight destinations of Zakat is to “those fighting in the way of allah.” In fact, Sheikh Yusuf al-Qaradawi, the world’s foremost Sunni Shariah scholar, told the BBC back in 2006 that he disliked the term “donation” used to describe Zakat payments. He preferred “Jihad with Money” since Mohammed commanded Muslims to fight their enemies with their money as well as weaponry.

HSBC has bent over backwards to facilitate Zakat payments on their web site:

http://www.hsbcamanah.com/amanah/personal/charity/zakah.html

http://www.hsbcamanah.com/amanah/personal/charity/zakah_calc.html

http://www.fins.com/Finance/Articles/SB128075978778423287/HSBC-Hiring-Heavily?Type=0&

 

5 Responses to HSBC Hiring Heavily for its Shariah-Compliant Division

  1. I think you, me, and Joy Brighton should all apply for a job with them. After all, the financial jihadists have infiltrated our banks? Why not start doing it in reverse?

  2. I think you, me, and Joy Brighton should all apply for a job with them. After all, the financial jihadists have infiltrated our banks. Why not start doing it in reverse?

  3. shariahfinancewatch says:

    I have a feeling we’d have a tough time getting hired. At least if they know how to use Google.

  4. I wonder how much of the hiring decisions they outsource to their sharia “scholars,” and how much of it is decided by the Western bank execs or HR professionals…

    I’d love to see the interview questions where all the job candidates layout their experience in undermining the West.

  5. shariahfinancewatch says:

    That is a good question. I guess it depends on which country we’re talking about. I doubt the younger Usmani has as many contacts in Western nations as he does in places like Pakistan…but who knows?

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