PIVB joins Bursa’s Islamic POs list

KUALA LUMPUR: Bursa Malaysia Bhd has added Public Investment Bank Bhd (PIVB) to its Islamic Participating Organisations (Islamic POs) list, making it the 13th stockbroking house to partner Bursa Malaysia-i.

Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said through the latest addition, the exchange hoped that it would be able to provide a conducive marketplace for the syariah investing community and would continue to spur the growth and vibrancy of the Islamic capital market, domestically and regionally.

PIVB chief executive officer Eddie Fong said that this would offer clients the options and flexibility to invest and trade freely in the equity market in compliance with syariah principles.

“Moving forward, PIVB will strive to broaden its range of Islamic services that it presently offers to create a comprehensive marketplace and continuously contribute to the Malaysian Islamic capital market,” they said in a jointstatement.

The Islamic stockbroking services assumed an important role in clients’ fund or trust monies where it would be segregated from the conventional funds and their placement would be made into syariah-compliant accounts.

There are 13 Islamic POs carrying out Islamic stockbroking services, of which one is on a full-fledged basis and the others are on a ‘window’ basis. — Bernama