HSBC Sharia-compliant fund invested more than $130m in firms linked to Israel’s military
HSBC’s Islamic Global Equity Index Fund bought shares in several companies connected to Israel’s military supply chain. The investment exceeded $130 million and took place amid the war in Gaza.
HSBC’s Islamic Global Equity Index Fund invested more than $130 million in shares of several companies connected to Israel’s military supply chain during the war in Gaza.
The supply chain described in the source includes components used in weapons, as well as technology and equipment with military applications.
The source identifies the fund as the United Kingdom’s largest fund marketed as Sharia-compliant. HSBC is described as Europe’s second-largest bank.
The source says the investments breached Sharia compliance requirements. It provides no further details about the companies or the basis for that assessment.
What we know
- HSBC’s fund bought shares in firms connected to Israel’s military supply chain.
- The investment exceeded $130 million.
- The reported supply chain includes weapon components, technology and equipment with military applications.
- The source says the investments breached Sharia compliance requirements.
Trust: Single source
- The story relies on one publisher. A second independent confirmation has not been established from the cited sources.
- Sources: Al Jazeera English.
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