Inter-Pacific Securities now offers Islamic stockbroking

PETALING JAYA: Inter-Pacific Securities Sdn Bhd can now start offering Islamic stockbroking services on a “window” basis, making it the 12th stockbroking firm in the country offer Islamic stockbroking.

Only one of the 12 participating organisation offers Islamic stockbroking services on a full-fledged basis, BIMB Securities.

Inter-Pac Securities executive director Tan Mun Choy said, “We wish to thank Bursa Malaysia and the Securities Commission for granting us approval to carry out Islamic stockbroking services. We are excited to play our part in the Bursa Malaysia-i initiatives to broaden the range of Islamic capital market instruments. The availability of a new option to invest in accordance with Shariah principles will certainly help us to reach out to a wider segment of the investing community.”

The Islamic stockbroking services play an important role in clients’ funds or trust monies where they are segregated from the conventional funds and placed into syariah-compliant accounts.

Bursa Malaysia launched Bursa Malaysia-i on Sept 5, 2016, making it the world’s first end-to-end integrated syariah investing platform. The platform incorporates a full range of syariah-compliant exchange-related services including listing, trading, clearing, settlement and depository services, to underscore Bursa Malaysia’s leadership as the global marketplace for syariah listing and investments.

“Bursa Malaysia is pleased to welcome Inter-Pac Securities to be part of Bursa Malaysia-i alongside the existing 11 Islamic Participating Organisations (POs). With the latest addition, investors will have a wider choice of Islamic POs to represent them, which is in line with the priority of Bursa Malaysia-i, to provide a conducive marketplace for the Shariah investing community and to spur the growth and vibrancy of the Islamic capital market domestically and regionally,” said Bursa Malaysia CEO Datuk Seri Tajuddin Atan.