Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) added Inter-Pacific Securities Sdn Bhd (“Inter-Pac Securities”) to its Islamic Participating Organisations (“Islamic POs”) list, making it the 12th stockbroking house partnering with Bursa Malaysia-i.
Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan, said, “Bursa Malaysia is pleased to welcome Inter-Pac Securities to be part of Bursa Malaysia-i alongside the existing 11 Islamic Participating Organisations. With the latest addition, investors will have a wider choice of Islamic POs to represent them, which is in line with the priority of Bursa Malaysia-i, to provide a conducive marketplace for the Shariah investing community and to spur the growth and vibrancy of the Islamic capital market domestically and regionally.”
Mr Tan Mun Choy, Executive Director of Inter-Pac Securities said, “We wish to thank Bursa Malaysia and the Securities Commission for granting us approval to carry out Islamic stockbroking services. We are excited to play our part in the Bursa Malaysia-i initiatives to broaden the range of Islamic capital market instruments. The availability of a new option to invest in accordance with Shariah principles will certainly help us to reach out to a wider segment of the investing community.”
The Islamic stockbroking services play an important role in clients' funds or trust monies where they are segregated from the conventional funds and placed into Shariah-compliant accounts.
With the inclusion of Inter-Pac Securities, there are now 12 Islamic POs carrying out Islamic stockbroking services of which 1 is on a full-fledged basis (BIMB Securities) and the other 11 are on a ‘window’ basis. The following is the list of the Islamic POs:
- 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
- TA Securities Holdings Berhad
- Inter-Pacific Securities Sdn Bhd
