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HSBC 'sharia-compliant' fund invested $100m in Israeli military-linked firms
Original: HSBC ‘sharia‑compliant’ fund spent over $100m on five Israeli military‑linked firms
HSBC's Islamic finance fund invested more than $100 million in five Israeli companies linked to the military, according to a Middle East Eye report, raising questions about whether the holdings comply with sharia principles that bar investments in weapons and conflict-related activities. The report is drawing criticism from campaigners and scrutiny of the bank's ethical fund labelling.
Why now: The contradiction between a sharia-compliant label and investments in military-linked firms has sparked debate over ethical finance standards.
Evidence
- HSBC ‘sharia‑compliant’ fund spent over $100m on five Israeli military‑linked firms · Middle East Eye
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