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New Investment Opportunities in Chinese Currency for HSBC customers in the Middle East

  New Investment Opportunities in Chinese Currency for HSBC customers in the
                                 Middle East

  PR Newswire

  DUBAI, UAE, September 10, 2013

DUBAI, UAE, September 10, 2013 /PRNewswire/ --

HSBC launches range of RMB products for customers in the region

HSBC Bank Middle East Limited is giving its customers the opportunity to
connect to China with the launch of a series of Renminbi (RMB) deposit
accounts. China's renminbi (RMB - also known as the yuan) is poised to join
the US dollar and the euro as one of the world's top three trading currencies
as China will settle 30% of its annual trade in RMB, equivalent to USD 2
trillion.

Customers who are looking to invest in renminbi can choose from a wide range
of RMB deposit account and services which include RMB current accounts ,
savings accounts and term deposits which can be for either one, three, six or
twelve month tenors. The newly introduced range of products follows on from
HSBC's strategy of becoming the leading international bank for RMB in the
Middle East, and globally, allowing customers to benefit from the bank's
understanding of the Chinese market.

Gifford Nakajima, Regional Head of Wealth Development, Retail Banking and
Wealth Management, MENA, HSBC, said: "Our expertise in RMB is rooted in our
deep understanding of China, our global connectivity and unrivalled expertise
in trade and investments. With the acceleration of RMB internationalization
and the rapid growth of the affluent segment in the Middle East, the launch of
HSBC's range of RMB deposit products will help meet our customers'
sophisticated needs and capture the potential of RMB as an emerging
international currency which will continue to benefit from China's economic
growth."

Customers can get potentially higher interest rates on their HSBC RMB Savings
and Term Deposits as compared to AED, USD and GBP, hence giving them an
opportunity to build savings in renminbi.

"At HSBC, we recognise the importance of providing our customers with ease of
access and convenience to a range of services that help them achieve their
retail banking , and wealth needs. This new product offering will add to the
extended suite of Retail Banking and Wealth Management solutions the bank
already offers to enhance its customer experience and meet the needs of the
Middle East's growing segment of affluent individuals. HSBC's RMB deposit
products also present an opportunity for its customers to diversify their
currency holdings and investment portfolios."

In addition to the added benefits that are available with the new product
offerings, customers can also benefit from HSBC's flagship Global View Global
Transfer platform, which allows them to transfer money to another RMB account
within or outside the UAE through instant cross border wires thereby reducing
foreign exchange and currency fluctuation costs.

HSBC in the MENA Region

HSBC is the largest and most widely represented international banking
organisation in the Middle East and North Africa (MENA), with a presence in 14
countries across the region. HSBC has operations in the United Arab Emirates,
Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and
the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of
Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for
investment banking in the Kingdom. In Iraq, HSBC holds a majority shareholding
in Dar Es Salaam Investment Bank. HSBC also maintains a representative office
in Libya.

This presence, the widest reach of any bank in the region, comprises some 295
offices and around 12,000 employees. In the three quarters of the year ending
on 30 September 2012, HSBC in the MENA region made a profit before tax of
US$1,048m.

Contact: Farah Farooq +971-56-6867337 farah.farooq@hsbc.com Ahmad Othman
+971-50-3069313 ahmad.othman@hsbc.com
 
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