KUALA LUMPUR: Bursa Malaysia Bhd has onboarded Maybank Investment Bank Bhd as a Provider and Authorized User for Islamic Securities Sale and Purchase – Negotiated Transaction (ISSBNT).
The ISSBNT is the world’s first syariah-compliant alternative to securities borrowing and lending, which was launched by the exchange in December 2017. The platform was developed as a mechanism to provide a facilitating trading environment and improve the liquidity and trading speed of Syariah-compliant securities.
As a licensed provider and user, Maybank IB will facilitate the purchase and sale of Syariah-compliant securities, as well as hedging and risk management activities for market participants while adhering to Syariah principles.
Bursa Malaysia CEO Datuk Muhamad Umar Swift said the addition of other participating organizations under the ISSBNT demonstrates its commitment to developing the Islamic equity market in response to increased demand for compliant assets. the syariah.
“We look forward to the increased participation and continued support of our brokers to drive the growth and momentum of our market, confirming Malaysia’s position as the world’s leading market for Islamic Syariah-compliant equities,” he said. he said in a statement today.
Meanwhile, Maybank IB CEO Datuk Fad’l Mohamed said the status would allow him to support his clients’ investment management strategies as he sees strong demand for Syariah-compliant assets among Investors.
“With syariah-compliant securities accounting for 79% of securities listed in Bursa Malaysia, there is scope to further develop our Islamic capital markets and Maybank IB will continue to play an active role in making Malaysia a leader in this space,” did he declare.
The inclusion of Maybank IB follows the recent announcement of CGS-CIMB Securities Sdn Bhd and Kenanga Investment Bank Bhd, which have also been granted the same status. To date, there are 179 Syariah-compliant securities eligible for ISSBNT transactions, as reviewed and approved by the Sharia Advisory Board of the Securities Commission Malaysia.