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Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) has added Public Investment Bank Berhad (“PIVB”) to its Islamic Participating Organisations (“Islamic POs”) list, making it the 13th stockbroking house partnering with Bursa Malaysia-i.
Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan said, “Bursa Malaysia is pleased to welcome PIVB to be part of Bursa Malaysia-i alongside with the rest of the 12 Islamic POs. We hope that together we will be able to provide a conducive marketplace for the Shariah investing community and will continue to spur the growth and vibrancy of the Islamic capital market domestically and regionally.”
The Chief Executive Officer of PIVB, Mr Eddie Fong said that "PIVB is happy to obtain the approval and be part of Bursa Malaysia-i and has expressed its gratitude to Bursa Malaysia for granting the approval for PIVB to establish the Islamic stockbroking window services. This offers clients the options and flexibility to invest and trade freely in the equity market in compliance with Shariah principles. Moving forward, PIVB will strive to broaden its range of Islamic services that it presently offers to create a comprehensive marketplace and continuously contribute to the Malaysian Islamic capital market".
The Islamic stockbroking services play an important role in clients’ fund or trust monies where they will be segregated from the conventional funds and their placement will be made into Shariah-compliant accounts.
Bursa Malaysia had on 5th September 2016 launched Bursa Malaysia-i, the world’s first end-to-end integrated Shariah investing platform. The platform incorporates a full range of Shariah-compliant exchange-related services including listing, trading, clearing, settlement and depository services, to underscore Bursa Malaysia’s leadership as the global marketplace for Shariah listings and investments.
With the latest addition, there are 13 Islamic POs carrying out Islamic stockbroking services of which one (1) is on a full-fledged basis and the other 12 are on a ‘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
- TA Securities Holdings Berhad
- Inter-Pacific Securities Sdn Bhd
- Public Investment Bank Berhad
