Affin Hwang Investment Bank is the first bank to be approved by Bursa Malaysia as an approved supplier and user under the Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT) model launched by Bursa Malaysia.
Affin Hwang Investment Bank, working with Bursa, has further boosted Malaysia’s position in the Islamic capital markets by providing market participants with a shariah -compliant alternative to conventional securities borrowing and lending activities.
As a Bursa-approved supplier and user, Affin Hwang Investment Bank can undertake the buying and selling of shariah-compliant securities for its own account as well as administer large beneficial owners ISSBNT activities as an agent (wakalah).
“Being the first Bursa-approved supplier and user under the ISSBNT demonstrates Affin Hwang Investment Bank’s commitment to be a leader in the securities industry in Malaysia and our provision of service excellence to our clients,” said Datuk Maimoonah Hussain, Group Managing Director, Affin Hwang Capital.
Datuk Seri Tajuddin Atan, Chief Executive Officer of Bursa Malaysia said, “We congratulate Affin Hwang Investment Bank on becoming the first approved ISSBNT supplier and user on the world’s first shariah-compliant alternative to the Securities Borrowing and Lending platform. “
“Their commitment and contribution to the Islamic capital markets is highly commendable and we look forward to the continued support of other market players in strengthening Malaysia’s position as the world’s leading, fully integrated Islamic investing marketplace. As a catalyst for growth, Bursa Malaysia will continue collaborating with key stakeholders to promote shariah investment to domestic and international investors.”
This new model is developed by Bursa Malaysia to provide a more facilitative trading environment, enabling hedging and risk management strategies, increasing market liquidity and making it more attractive for shariah-compliant market participants.