KUALA LUMPUR: Investment opportunities in syariah-compliant stocks on Bursa Malaysia have grown exponentially, with more than 82 per cent of Bursa stocks being syariah-compliant.
Stock investment expert Datuk Mohd Asri Ahmad said syariah-compliant stocks in the Malaysian capital market are clearly increasing.
The director and co-founder of Asri Ahmad Academy said 82 per cent of the existing products are syariah-compliant, indicating ample investment opportunities.
"In fact, 82 per cent is a substantial figure. So in my opinion, there are opportunities for Muslims to be involved in these products.
" Asri was one of the speakers at InvestSmart Fest 2023, an event to promote investor education and protection under the theme "10 Years Empowering the Malaysian People" over the weekend.
Asri said he disagreed with the notion that conventional stocks have better returns, adding that syariah-compliant stocks also offer opportunities for good returns.
Up to May, the number of syariah-compliant stocks stood at 802, out of a total of 980 stocks on Bursa Malaysia.
Bursa Malaysia offers a diverse range of syariah-compliant stocks, with the syariah advisory council of the Securities Commission (SC) developing the screening methodology to determine syariah compliance.
There are syariah-compliance reviews for listed stocks on Bursa Malaysia and during the initial public offering of a company's shares.
A public-listed company is reviewed based on the latest audited financial statements.
Investors can refer to the SC website for the latest list of syariah-compliant stocks, updated twice a year in May and November.
Over the past five years, the Islamic capital market has grown steadily at an annual rate of 4.2 per cent, reaching a total value of RM2.3 trillion at the end of 2022.