HSBC tailors offer to Muslim market

SINGAPORE: HSBC Amanah, the bank's Islamic financial solutions arm, has launched a local campaign to drive awareness of its Shariah-compliant (Takaful) financial plans for children's education.

The rollout follows recent predictions, made by HSBC Amanah's global head, Ajmal Bhatty, that the Takaful industry is set to grow fivefold by 2015. According to Audrey Wong, head of country marketing, HSBC Singapore, the local marketing efforts fall in line with HSBC Amanah's global directive.

"There is definitely a huge potential in Singapore for Takaful products, considering that local Muslims have S$10 billion (US$6.2 billion) in CPF (social security savings)," Wong said.

"Most consumers tend to procrastinate when it comes to financial planning. Therefore this campaign highlights the need for early planning to meet our financial goals. Based on research conducted with local Muslim consumers, providing for their child's education needs is a top priority."

The campaign drives across the message that "with HSBC Amanah, you can plan ahead for your child's education needs in line with Shariah principles", said Thomas Sutton, account director of JWT Singapore, which handled the creative work.

The campaign includes TV, print and bus shelter posters. The creative shows a young couple walking across a field with their young son. However, the son's shadow is ostensibly longer than his parents, suggesting that this is because it is growing at a faster rate than his parents'.

According to Sutton, the implication is that "your child grows faster than you think, and it's never too early to plan for their education needs".

The campaign is currently running at various bus shelters as well as in Singapore's two Malay-language media, Suria (TV) and Berita Harian (print). MindShare Singapore handled the media task.

In addition, JWT Singapore recently took on four additional creatives to focus on the HSBC account: Jimmy Neo, Erika Choo and Ryam Kam have joined the agency's BTL unit. Joseph Cheong joins from BBDO and will partner art director Neo Chiew Chiew.