HSBC is getting rich. They’re getting rich off of connections to Saudi Arabia and their deep involvement in the Shariah-compliant bond market (known as sukuk).

It seems that nobody underwrites sukuk for the Saudis like HSBC does. This is the same HSBC that has been fined a billion dollars for its illegal business with Iran.

Western investors may wish to take HSBC’s activities into account when making their investment and banking selections…



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