HSBC Watch News Release Forum Index
Forum Name: - Social Responsibility
Topic Title: IRAN and HSBC and Terrorism doing work again
Thu Feb 03, 2005 5:47 am
Well,more proof of HSBC doing and continuing business in IRAN. Sad to say also I have reported before, Al-Zarqawis group in IRAQ beheading Americans is also funded from the OSC/Sorros group and HSBC through the Shariah Supervisory Committee members in Pakistan who strongly supported AL QUEDA.
Banking, Finance & Insurance News
HSBC in $500m Iran project financing deal
Posted: Sunday, December 03, 2000
MANAMA:
HSBC has signed a $500 million medium-term project finance framework agreement with six Iranian commercial banks. The deal was coordinated by the Central Bank of Iran.
The deal formalises the basis for loans, secured by leading export credit agencies on either a sole or multi-sourced basis, to finance infrastructure projects in Iran by large international companies.
The Iranian banks involved in the agreement are Bank Melli, Bank Saderat, Bank Mellat, Bank Tejarat, Bank Sepah and the Export Development Bank. HSBC opened a representative office in Tehran in October last year, returning to the Iranian market after an absence of over 20 years.
During the past year, HSBC representatives in Iran have been involved in developing a broad range of commercial and investment banking activities.
Moody's upgraded Iran's country rating in October. Cover limits for Iran have generally been increased by European export credit agencies over the past year, most recently by the UK's Export Credit Guarantee Department.
"There is, without doubt, going to be interest in the wide range of potential trade and investment opportunities which Iran offers to its international partners. This increases the need, in particular, for project finance. We welcome the positive line being taken by export credit agencies on Iran. HSBC is extremely well placed to support projects for which such cover is granted," said John Richards, HSBC senior representative in Iran.
December 4, 2000
Forward this article to a Colleague, Associate or Friend
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.