Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) is pleased to announce the onboarding of NewParadigm Securities Sdn Bhd (“NewParadigm”) as its newest Islamic Participating Organisation (“Islamic PO”).
NewParadigm’s onboarding supports broader access to ethical investment avenues and reflects the role of domestic firms in advancing equitable and sustainable financial solutions. NewParadigm is a local firm with long-standing presence in the stockbroking industry since 2004. NewParadigm’s Islamic stockbroking services commence today, further enriching the landscape of Shariah-compliant investment ecosystem.
Islamic Stockbroking Services and Bursa Malaysia-i
Islamic stockbroking enables investors to trade Shariah-compliant securities, conducted either through a dedicated Islamic window or a full-fledged1 Islamic brokerage. This ensures clear segregation between Islamic and conventional transactions across all trading and post-trading activities, maintaining full compliance with Shariah principles.
Introduced in 2016, Bursa Malaysia-i is the world’s first end-to-end Shariah-compliant investing and trading platform offered by the Exchange. It provides a comprehensive suite of exchange-related services structured within a Shariah framework, supported by a robust, transparent, and secure infrastructure.
This platform empowers investors to access a wide range of Shariah-compliant instruments, reinforcing principles of ethical finance and supporting the growing demand for responsible investment solutions.
Dato’ Fad’l Mohamed, Chief Executive Officer of Bursa Malaysia, said: “The addition of NewParadigm as an Islamic Participating Organisation on Bursa Malaysia-i is in line with our commitment to building a vibrant and inclusive marketplace. With over 80% of securities products on our Exchange are Shariah-compliant, expanding the network of Islamic stockbroking services enhances accessibility and empowers more investors to participate in Shariah-compliant investing. This milestone reinforces our focus on delivering value, deepening market liquidity, and supporting sustainable wealth creation for investors.”
The inclusion of NewParadigm as an Islamic Participating Organisation on Bursa Malaysiai reflects our ongoing commitment to building a vibrant and inclusive marketplace. With over 80% of securities on our Exchange already Shariah-compliant, expanding the network of Islamic stockbroking services enhances accessibility and empowers more investors to participate in Shariah-compliant investing. This milestone strengthens our efforts to deepen market liquidity, deliver long-term value, and support sustainable wealth creation across Malaysia’s capital market
Charanjeev Singh, Group Chief Executive Officer of NewParadigm, said: “We are deeply honoured to receive Bursa Malaysia’s approval to establish NewParadigm’s Islamic stockbroking window. This milestone reflects our unwavering commitment to advancing Malaysia’s Islamic finance landscape and delivering high-quality, Shariah-compliant investment opportunities to our clients. We extend our sincere appreciation to Bursa Malaysia for their trust and support in this journey. This approval not only strengthens our role in promoting ethical and inclusive financial solutions but also reinforces our intent to contribute to the sustainable growth of Malaysia’s Islamic capital market.”
The number of POs offering Islamic stockbroking services has steadily increased over the years, with almost two-thirds of the total 30 POs now providing such services. The Islamic POs operating on either a full-fledged basis or on a window basis currently are:
- Affin Hwang Investment Bank Berhad
- AmInvestment Bank Berhad
- BIMB Securities Sdn Bhd (full-fledged)
- CGS International Securities Malaysia Sdn Bhd
- CIMB Securities Sdn Bhd
- Hong Leong Investment Bank Berhad
- Inter-Pacific Securities Sdn Bhd
- Kenanga Investment Bank Berhad
- Malacca Securities Sdn Bhd
- Maybank Investment Bank Berhad
- MIDF Amanah Investment Bank Berhad
- M&A Securities Sdn Bhd
- NewParadigm Securities Sdn Bhd
- Phillip Capital Sdn Bhd
- Public Investment Bank Berhad
- RHB Investment Bank Berhad
- TA Securities Holdings Berhad
- UOB Kay Hian Securities (M) Sdn Bhd
- UBS Securities Malaysia Sdn Bhd
Investors interested in learning more about Bursa Malaysia-i can visit https://www.bursamalaysia.com/trade/our_products_services/islamic_market/bursa_ malaysia_i/overview or contact icm@bursamalaysia.com.
1An Islamic window refers to a Participating Organisation that operates both conventional and Islamic stockbroking businesses, whereas a full-fledged Islamic brokerage refers to a Participating Organisation conducting its stockbroking business entirely in accordance with Shariah principles.
