Friday 29 Mar 2024
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KUALA LUMPUR (Sept 5): Bursa Malaysia Bhd today launched Bursa Malaysia-i, the world's first end-to-end integrated Islamic securities exchange platform that offers investors the choice to invest and trade syariah-compliant products via a syariah-compliant platform.

Bursa Malaysia-i incorporates the full range of syariah-compliant exchange related services including listing, trading, clearing, settlement and depository services.

"As a leading emerging market exchange for syariah-compliant securities, Bursa-i underscores our leadership as the global marketplace for syariah listing and investments," said Bursa Malaysia chairman Tan Sri Amirsham Abdul Aziz when delivering his speech.

According to him, 669 out of 902 companies that are listed on the local exchange are syariah compliant.

"The Malaysian market capitalisation has been growing at a tremendous pace — 363% since 1997, and the syariah market capitalisation as of July 2016 makes up 63.5% of the total market value of RM1.6 trillion," he added.

This, he said, does not include other listed syariah-compliant products such as Islamic Exchange Traded Funds, Islamic Real Estate Investment Trusts and Exchange Traded Sukuk.

Amirsham also unveiled the nine participating organisations (POs) and hoped the other 21 POs registered with Bursa Malaysia will take advantage to set up Islamic stockbroking services.

The nine pioneer POs are Affin Hwang Investment Bank Bhd, AmInvestment Bank Bhd, BIMB Securities Sdn Bhd, CIMB Investment Bank Bhd, Jupiter Securities Sdn Bhd, Kenanga Investment Bank Bhd, Malacca Securities Sdn Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd.

The new trading platform was officially introduced by Minister of Finance II Datuk Johari Abdul Ghani here today.

Johari said the launch of the new trading platform is a culmination of Bursa Malaysia's longstanding commitment to making Malaysia a comprehensive Islamic investing hub that offers various Islamic financial market instruments.

"Continuous effort and support from various stakeholders such as Islamic POs, regulators, public listed companies, investment banks, syariah advisers and Islamic fund managers are essential to further develop and mainstream the Bursa Malaysia syariah-compliant platform," he said.

As a highly open economy, Johari said the country is now positioned at the forefront of the international developments with increasing connectivity between financial centres, and more cross-border Islamic financial transactions.

"These interlinkages open up greater opportunities for meaningful participation of our local players at the global and regional levels," he added.

 

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