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We use QCD sum rules to calculate the hadronic matrix elements governing the rare decays $B \to K \ell^+ \ell^-$ and $B \to K^* \ell^+ \ell^-$ induced by the flavour changing neutral current $b \to s$ transition. We also study relations among semileptonic and rare $B \to K^{(*)}$ decay form factors. The analysis of the invariant mass distribution of the lepton pair in $B \to K^{(*)} \ell^+ \ell^-$ and of the angular asymmetry in $B \to K^* \ell^+ \ell^-$ provides us with interesting tests of the Standard Model and its extensions.

QCD Sum Rule Analysis of the Decays $B \to K \ell^+ \ell^-$ and $B \to K^* \ell^+ \ell^-$