Good for Islamic banking subsidiaries to list

"In a typical approach, we would like to encourage these banks to list their Islamic banking subsidiaries," Bursa chairman Abdul Wahid said at Invest Shariah Conference 2023. — RAJA FAISAL HISHAN/The Star

PETALING JAYA: Bursa Malaysia encourages financial institutions to begin exploring possibilities of listing their Islamic banking subsidiaries, as there’s inadequate syariah-compliant equity instruments in the financial services sector.

Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said a majority of financial institutions, such as major local banks, were still categorised as conventional, despite a big portion of their businesses being syariah-compliant now.