Bursa Malaysia adds PIVB to its Islamic POs

Bursa Malaysia CEO Datuk Tajuddin Atan said the higher earnings in the 9 months were due to the resilient performance of the Securities Market which was supported by continued growth in the Derivatives Market and Islamic Capital Market.

KUALA LUMPUR: Bursa Malaysia Bhd has added Public Investment Bank Bhd (PIVB) to its Islamic participating organisations list, making it the 13th stockbroking house partnering with Bursa Malaysia-i. 

“Bursa Malaysia is pleased to welcome PIVB to be part of Bursa Malaysia-i alongside with the rest of the 12 Islamic POs. We hope that together we will be able to provide a conducive marketplace for the Shariah investing community and will continue to spur the growth and vibrancy of the Islamic capital market domestically and regionally,” Bursa Malaysia CEO Datuk Seri Tajuddin said in a statement.

PIVB CEO Eddie Fong said PIVB was happy to obtain the approval and be part of Bursa Malaysia-i and had expressed its gratitude to Bursa Malaysia for granting the approval for PIVB to establish the Islamic stockbroking window services

“This offers clients the options and flexibility to invest and trade freely in the equity market in compliance with Shariah principles. Moving forward, PIVB will strive to broaden its range of Islamic services that it presently offers to create a comprehensive marketplace and continuously contribute to the Malaysian Islamic capital market,” Fong said. 

With the latest addition, there are 13 Islamic POs carrying out Islamic stockbroking services of which one on a full-fledged basis and the other 12 are on a ‘window’ basis. The following is the list of POs which conduct stockbroking business in accordance with Shariah principles:

1. Affin Hwang Investment Bank Bhd

2. AmInvestment Bank Bhd

3. BIMB Securities Sdn Bhd (full-fledged)

4. CIMB Investment Bank Bhd

5. Hong Leong Investment Bank

6. Jupiter Securities Sdn Bhd

7. Kenanga Investment Bank Bhd

8. Malacca Securities Sdn Bhd

9. Maybank Investment Bank Bhd

10. RHB Investment Bank Bhd 

11. TA Securities Holdings Bhd

12. Inter-Pacific Securities Sdn Bhd

13. Public Investment Bank Bhd