HSBC Amanah retains its position as Asia-Pacific’s best Islamic structured finance house, a reflection of continued leadership and a consistent ability to align product innovation with client needs in an ever-shifting market environment.
Throughout 2025, the bank demonstrated a clear focus on refining and enhancing its structured products offering, building a more flexible and responsive platform for clients across different market environments. This was evident in its response to stronger equity performance and rising risk appetite, where demand for higher-yielding, non-principal-protected solutions accelerated.
HSBC Amanah enhanced its existing range of auto callable structures, moving beyond single underlying exposures to introduce products based on baskets of equities. This allowed investors to access higher potential returns while benefitting from diversification across assets. At the same time, the bank refined payout profiles through the introduction of bullet profit features, enabling investors to receive returns upfront, an approach that proved well suited to 2025’s market conditions.
The bank also continued to develop its principal-protected offering, introducing more dynamic payoff structures designed to provide greater flexibility. Digital payoff features with lock-in mechanisms allowed investors to secure gains once certain performance thresholds were met, offering a greater degree of certainty while maintaining exposure to further upside. This broadened the range of solutions available to clients, catering to more conservative as well as yield-seeking investors.
Our recognition reflects the strength of our people and our strategic focus on client-led innovation, disciplined risk management and consistent execution
Raja Amir Shah
Product development remained closely aligned with broader market themes. In response to continued interest in diversified and defensive exposures, HSBC Amanah introduced multi-asset index-linked structures incorporating equities and gold. These solutions enabled clients to participate in equity market performance while benefitting from the stabilising characteristics of gold, reflecting a more balanced approach to portfolio construction.
The breadth of the bank’s structured products platform remains a defining strength. HSBC Amanah continues to offer principal-protected and non-principal-protected solutions across seven currencies, tenors up to five years and underlying asset classes, including single stocks, baskets and index-based exposures. This flexibility allows it to tailor solutions to a wide range of client needs, while maintaining consistency in structuring standards and execution.
In its discussions with Euromoney, HSBC Amanah demonstrated the scale of optionality at its clients’ disposal, allowing them to calibrate currency exposure, risk appetite and return profile within a fully Shariah-compliant framework, reinforcing the bank’s ability to deliver genuinely bespoke structured solutions at scale.
Raja Amir Shah, CEO of HSBC Amanah, says: “Our recognition as Asia-Pacific’s best Islamic structured finance house reflects the strength of our people and our strategic focus on client-led innovation, disciplined risk management and consistent execution. In a market shaped by higher funding costs, volatility and increasing complexity, clients are looking for certainty of delivery, capital-efficient solutions and structures that meet the highest standards of transparency and compliance.
“Over the past year, we have strengthened our structured finance offering, broadened our product toolkit and accelerated speed-to-market through closer coordination across coverage, structuring and delivery teams. Our focus is simple: bring the right expertise together quickly, structure with discipline and deliver with certainty, anchored in Shariah principles.”
HSBC Amanah’s Islamic structured products franchise reflects a combination of innovation, technical capability and disciplined execution. Its ability to continually refine its offering in line with market developments, while delivering tailored, Shariah-compliant solutions across a broad and flexible platform, reinforces its position at the forefront of Islamic structured finance, and underscores a franchise that continues to set the pace for the market.
