Bursa Malaysia Berhad (“Bursa Malaysia” or “The Exchange”) bagged three awards at the Global Banking and Finance Review Awards 2017 recently. The three awards are; the “Most Innovative Global End-to-End Shariah-Compliant Investing Platform Asia 2017” for its Bursa Malaysia-I; “Best Commodity Trading Platform Asia 2017” for the outstanding performance of its Shariah-compliant commodity trading platform, Bursa Suq Al-Sila’ (“BSAS”); and “Best Islamic Exchange Asia 2017” for the outstanding performance of its Islamic Capital Market.
Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan said, “This is the third consecutive year Bursa Malaysia’s being recognised by the Global Banking and Finance Review for our efforts in developing and promoting the Islamic Capital Market through Bursa Malaysia-i and Bursa Suq Al-Sila. The recognition also validates our continuous efforts to provide a diverse range of Shariah-compliant products that cater to both our institutional and retail audience.”
The introduction of Bursa Malaysia-i in 2016 is aimed at strengthening the Exchange’s role as a key Islamic capital market hub in ASEAN and beyond. The platform is a culmination of Bursa Malaysia’s long-standing commitment to making Malaysia a comprehensive Islamic investing hub that offers a broad suite of Islamic financial market instruments.
BSAS is a Shariah-compliant commodity trading platform which facilitates Murabahah and Tawarruq transactions. As at the end of 2016, BSAS recorded a cumulative annualised growth rate of 112.2 per cent since its inception in 2009. It is also recognised as a platform with the capacity to undertake commodity trading in various major currencies, made possible by the availability of a large supply of physical commodities.
Malaysia’s Islamic Capital Market has generated considerable growth momentum over the last few years. As at the end of March 2017, 74.4 per cent of companies listed on Bursa Malaysia are Shariah-compliant, while the Shariah market makes up 62.4 per cent of the total market capitalisation of RM1.8 trillion.
