Bursa Malaysia adds Inter-Pacific securities to Islamic POs

KUALA LUMPUR: Bursa Malaysia has added Inter-Pacific Securities Sdn Bhd (Inter-Pac Securities) to the Islamic Participating Organisations (Islamic POs) list, making it the 12th stockbroking house partnering it.

In a statement yesterday, Bursa Malaysia said Islamic stockbroking services play an important role in managing clients’ funds or trust monies, where they are segregated from conventional funds and placed into Shariah- compliant accounts.

“With the latest addition, investors will have a wider choice of Islamic POs to represent them, which is in line with Bursa Malaysia- i’s aim to provide a conducive marketplace for the Shariah- compliant investing community and spur growth and vibrancy of the Islamic capital market, both domestically and regionally,” said Bursa Malaysia’s chief executive officer, Datuk Seri Tajuddin Atan.

Meanwhile, Inter-Pac Securities executive director Tan Mun Choy said the addition of the brokerage firm to the Islamic PO list would help it reach a wider segment of the investing community.

Bursa Malaysia said of the 12 Islamic POs carrying out Islamic stockbroking services, one is fullfledged (BIMB Securities) and the rest on a “window” basis .

Other than Inter- Pacific Securities, the list of Islamic POs comprises A ff in H wang Investment Bank Bhd, AmInvestment Bank Bhd, BIMB Securities Sdn Bhd, CIMB Investment Bank Bhd, Hong Leong Investment Bank, Jupiter Securities Sdn Bhd, Kenanga Investment Bank Bhd, Malacca Securities Sdn Bhd, Maybank Investment Bank Bhd, RHB Investment Bank Bhd and TA Securities Holdings Bhd. — Bernama