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Bursa Malaysia Berhad (“Bursa Malaysia”) today announced that it was awarded ‘Best Interbroker for Islamic Transaction’ by Islamic Finance News (“IFN”) for its Bursa Suq Al-Sila’ (“BSAS”) platform at the recent 10th Annual IFN Service Providers Poll. This is Bursa Malaysia’s second award received this year in recognition of the outstanding performance of its BSAS platform. On 28 September 2015, Bursa Malaysia was awarded ‘Best Islamic Exchange 2015’ at the Global Islamic Finance Awards 2015 in Manama, Bahrain.
Dato’ Tajuddin Atan, the Chief Executive Officer of Bursa Malaysia said, “Bursa Malaysia is proud to receive our second award in 2015 for the performance of our Bursa Suq Al-Sila’ global commodity murabahah trading platform. The consistent double-digit growth since its inception in 2009 has been encouraging as we observe more interest coming from the MENA and Asia regions. Both these recognitions further reaffirm our confidence that BSAS has the capability to further facilitate the expanding needs for Islamic financing globally. As an Exchange, our focus remains to build on the greater depth and diversity to our marketplace, especially in Shariah-compliant products and services that would appeal to both the institutional and retail audience.”
Bursa Suq Al-Sila’ (BSAS), is a Shariah compliant commodity murabahah trading platform which facilitates murabahah and tawarruq’ transactions. BSAS experienced an annualised growth of 178% from 2009 to 2014 which can be attributed to increased acceptance and demand from global participants in the MENA and Asia 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.
