Affin Hwang IB launches first Islamic securities selling and buying negotiated transaction

KUALA LUMPUR: 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 Market industry 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 syariah 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 Islamic Selling and Buying Negotiated Transaction activity 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 syariah-compliant alternative to Securities Borrowing and Lending platform.