Bursa Malaysia Berhad (“Bursa Malaysia”) today announced that it was awarded ‘Best Interbroker for Islamic Transactions’ by Islamic Finance News (“IFN”) for its Bursa Suq Al-Sila’ (“BSAS”) platform at the recent 11th Annual IFN Service Providers Poll. This is Bursa Malaysia’s second award received in recognition of the outstanding performance of BSAS platform in 2016 and also the second consecutive year that BSAS won the award from the IFN Service Providers Poll.
Mr. Jamaluddin Nor Mohamad of Bursa Malaysia receiving the ‘Best Interbroker for Islamic Transactions’ award from Mr. Andrew Morgan, Managing Director and Publisher of REDMoney Group at IFN Awards 2016 ceremony held in Kuala Lumpur recently.
Datuk Seri Tajuddin Atan, the Chief Executive Officer of Bursa Malaysia on being adjudged as ‘Best Interbroker for Islamic Transactions’ said, “We are deeply honoured to receive this award for the second consecutive year. Our achievement is a tribute to the BSAS trading and supplying participants, our stakeholders and the Shariah advisers for their unwavering confidence and support.”
Bursa Suq Al-Sila’ in a nutshell
Bursa Suq Al-Sila’ is a Shariah-compliant commodity murabahah trading platform which facilitates Murabahah and Tawarruq transactions. BSAS recorded a cumulative annualised growth rate (“CAGR”) of 123.2% since its inception in 2009, which can be attributed to increased acceptance and demand from global participants in the Middle East, North Africa and Asian regions for Shariah-compliant products and services. 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.
