Riyadh, Saudi Arabia: HSBC has today announced its appointment as custodian to the Al Rajhi MSCI Saudi Arabia ETF.
Al Rajhi Capital appointed HSBC following a selection process designed to identify a securities services provider with a strong track record of servicing Exchange Traded Funds, a diverse global securities services network, and the ability to scale with the firm as it grows.
Faris AlGhannam, Chief Executive of HSBC Saudi Arabia, said: “We’re delighted to partner with an important client in the Kingdom as custodian to the Al Rajhi MSCI Saudi Equity ETF.
“In line with our proud tradition of contributing to the growth of Saudi Arabia’s capital markets, and the priorities of Vision 2030, we are pleased to contribute HSBC’s global expertise and support the growth of the Kingdom’s ETF ecosystem.”
HSBC continues to drive ETF innovation and connectivity between Asia and the Middle East. In 2024, HSBC served as ETF partner in the launch of the CSOP Saudi Arabia ETF listed in Hong Kong, the first ETF in Asia to track Saudi Arabian equities.
In 2025, HSBC also supported Premia Partners’ first Saudi Arabia government Sukuk ETF providing investors in Hong Kong with access to the Kingdom’s extensive market of sharia-complaint securities.
HSBC was recently named the Middle East’s Best for Securities Services, and Saudi Arabia’s Best for Securities Services in Euromoney’s Awards for Excellence 2026. As at 31 March 2026, HSBC held US$235 billion of assets in custody in the Kingdom of Saudi Arabia. As at December 31 2025, HSBC held $12.9 trillion of assets in custody, globally.
Editor’s notes
The Al Rajhi MSIC Saudi Arabia ETF is designed to provide investors with exposure to more than 250 listed companies included in the MSCI Saudi Arabia Islamic Index, covering large, mid, and small-cap companies across both the Main Market and Nomu. The fund is available through the Al Rajhi Capital platform.
Media enquiries to:
Ahmad Othman
ahmad.othman@hsbc.com
Harrison Worley
harrison.worley@hsbc.com
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,438bn at 30 June 2026, HSBC is one of the world’s largest banking and financial services organisations.
HSBC in the MENAT region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$83bn as at 31 December 2025.
HSBC Saudi Arabia, authorized and regulated by the Capital Market Authority to carry on Securities Business under License No. 05008-37.
