Affin Hwang IB first Bursa-approved bank under ISSBNT

Bursa Malaysia CEO Datuk Seri Tajuddin Atan with Affin Hwang Capital group managing director Datuk Maimoonah Hussain at the Bursa building.

(From left): Bursa CEO Datuk Seri Tajuddin Atan together with the Affin Hwang Capital group MD Datuk Maimoonah Hussain, Affin Hwang Capital director of securities borrowing & lending (SBL) equity finance Henry Lee and Affin Hwang Capital senior associate director of securities borrowing & lending (SBL) equity finance Karu Ramesh Kumar at the Bursa building.

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KUALA LUMPUR (July 16): Affin Hwang Investment Bank Bhd (Affin Hwang IB) is the first bank to be approved by Bursa Malaysia as an approved supplier and user under the Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT) model, launched by Bursa.

As a Bursa-approved supplier and user, Affin Hwang IB can undertake the buying and selling of shariah-compliant securities for its own account, as well as administer large beneficial owners ISSBNT activities as an agent (Wakalah).

The new model is developed by Bursa to provide a more facilitative trading environment, enabling hedging and risk management strategies, increasing market liquidity and making it more attractive for Shariah-compliant market participants.