Economy
HSBC's 'Halal' Fund Invests Over $130M in Companies Tied to Israeli Military
HSBC's Islamic Global Equity Index Fund, promoted as Sharia-compliant and holding more than $8 billion in assets, spent over $130 million in the first half of 2026 on stakes in at least five companies tied to Israel's military supply chain, including Palantir, RTX, Analog Devices, Honeywell and Rolls-Royce. Islamic finance experts say the case exposes a gap between the fund's stated ethical restrictions and its actual holdings, and highlights weak screening that assesses core business lines rather than end use.