KUALA LUMPUR: TA Securities Holdings Bhd has been added to Bursa Malaysia Bhd's list of Islamic Participating Organisations (Islamic POs) which offer clients Islamic stockbroking services.
TA Enterprise Bhd managing director and chief executive officer Datin Alicia Tiah said the service will provide the company's Muslim clients additional options and flexibility in investing and trading freely in financial products.
“We are happy to obtain the approval to establish an Islamic Stockbroking Window and be part of Bursa Malaysia-i. Certainly, this will complement and broaden our product offerings to suit diverse investors with varying needs and preferences.
"Most importantly, it provides an option or flexibility for our clients, especially Muslims, to invest/trade freely in financial products that are in compliance with Shariah principles.
“We will strive to broaden the range of Islamic services that we offer and contribute positively to the Malaysian Islamic capital market,” Tiah said in a statement.
Bursa Malaysia has said that Islamic stockbroking services play an important role in clients' funds or trust monies, as these funds or monies are segregated from the conventional funds and placed into Shariah-compliant accounts.
The emailed statement from Bursa Malaysia explained that 11 Islamic POs carry out Islamic stockbroking services – one is on a full-fledged basis (BIMB Securities), while 10 are on a ‘window’ basis.
The 11 POs are Affin Hwang Investment Bank Bhd, AmInvestment Bank Bhd, BIMB Securities Sdn Bhd (full-fledged), 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 now, TA Securities Holdings Bhd.