.jpg)
Bursa Malaysia Berhad (Bursa Malaysia) added Hong Leong Investment Bank Berhad to its Islamic Participating Organisations (IPOs) list, after the home-grown investment bank obtained approval from the Securities Commission Malaysia, to operate Islamic stockbroking window on 15 September 2016.
Bursa Malaysia had on 5th September 2016 launched Bursa Malaysia-i, the world’s first end-to-end integrated Shariah investing platform. Officiated by Y.B. Datuk Johari bin Abdul Ghani, Minister of Finance II, the platform incorporates the full range of Shariah-compliant exchange-related services including listing, trading, clearing, settlement and depository, to underscore Bursa Malaysia’s leadership as the global marketplace for Shariah listing and investments.
With the latest addition, there are ten (10) Islamic POs that carry out Islamic stockbroking services of which one (1) is on a full-fledged basis and the other nine (9) are on ‘window’ basis. The following is the list of Participating Organisations which conduct stockbroking business in accordance with Shariah principles:
- Affin Hwang Investment Bank Berhad
- AmInvestment Bank Berhad
- BIMB Securities Sdn Bhd (full-fledged)
- CIMB Investment Bank Berhad
- Hong Leong Investment Bank
- Jupiter Securities Sdn Bhd
- Kenanga Investment Bank Berhad
- Malacca Securities Sdn Bhd
- Maybank Investment Bank Berhad
- RHB Investment Bank Berhad
Datuk Seri Tajuddin Atan, the Chief Executive Officer of Bursa Malaysia said, “Bursa Malaysia is pleased to receive the participation and support of HLIB as part of Bursa Malaysia-i, the world’s first end-to-end Shariah investing platform alongside with the rest of the nine (9) Islamic POs. It is testament to affirm our position on the global stage as the international Islamic capital marketplace for fund raising and Shariah investing and to enhance Bursa Malaysia’s competitiveness in ASEAN as an emerging market leader for Sustainable and Responsible Investing.”
“HLIB is pleased to have received the approval from both Securities Commission Malaysia and Bursa Malaysia, to launch our Islamic Stockbroking window. We are indeed pleased to be able to offer our Islamic stockbroking window and be part of Bursa Malaysia-i, the world's first end-to -end investing platform. Within this platform, we hope to widen our Shariah-based services in our Islamic Capital Markets. Through this, we are focused on delivering an even better banking experience alongside a comprehensive understanding of Islamic trading and investment principles,” said Lee Jim Leng, Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad.
The Islamic stockbroking services play an important role in clients' funds or trust monies where they will be segregated from the conventional funds and their placement will be made into Shariah-compliant accounts. Bursa Malaysia is proud to announce that HLIB is now one of the Islamic POs partnering with Bursa Malaysia-i.
