HSBC's presence in Malaysia dates back to 1884 when The Hongkong and Shanghai Banking Corporation Limited established its first branch in the country in 1884 on the island of Penang, with privileges to issue currency notes.
HSBC has been offering Islamic financial services in Malaysia since 1994. HSBC introduced Islamic banking globally in 1998. In 2004, the HSBC Amanah brand was launched globally with the aim of making HSBC the leading provider of Islamic banking services worldwide.
In November 2007, HSBC Bank Malaysia Berhad was the first locally incorporated foreign bank in Malaysia to be awarded a license by Bank Negara Malaysia to set up an Islamic banking subsidiary.
HSBC Amanah Malaysia Berhad, a fully fledged Islamic bank wholly owned by HSBC Bank Malaysia and a member of the HSBC Group, was incorporated in February 2008 and commenced operations in August 2008.