HSBC ‘sharia‑compliant’ fund spent over $100m on five Israeli military‑linked firms
HSBC ‘sharia‑compliant’ fund spent over $100m on five Israeli military‑linked firms The UK ’s largest “sharia-compliant” fund has purchased more than $100m worth of shares in companies linked to the Israeli military in the first half of this year, a Middle East Eye analysis can reveal. This comes after Hyphen reported on Tuesday that the British banking giant HSBC’s Islamic Global Equity Index…
HSBC's Islamic Global Equity Index Fund purchased over $100 million worth of shares in five Israeli military-linked companies during the first half of 2026, according to Middle East Eye analysis. This included a $35.7 million investment in Raytheon, a major arms company that supplies weapons to Israel's Iron Dome missile defense system and has sold missiles to Israel, including those reportedly used in the Gaza genocide.
The fund also bought $20.3 million in Analog Devices shares, a semiconductor company that supplied components to Elbit Systems, Israel's largest weapons manufacturer, during Israel's Gaza genocide in 2024. Additionally, the HSBC fund invested $18.9 million in Honeywell International, a company that manufactured sensors used in a missile that attacked a school in Gaza in June 2024, killing at least 40 Palestinians, including 14 children and nine women.
The fund also purchased $17.6 million in Rolls-Royce shares, which produces engines for Merkava tanks used by Israel in Gaza, as well as Israeli ships through its German subsidiary MTU.
Written by urgent.news from Middle East Eye's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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