IslamicFinance.de

Affin Hwang Asset Management has launched the TradePlus Shariah Gold Tracker (GOLDETF MK) on Bursa Malaysia, the first commodity-tracking ETF listed in Malaysia. The fund provides investors with exposure to gold through a shariah-compliant investment structure. The fund tracks the LBMA Gold Price AM Index by investing in physical gold bars purchased from London Bullion Market Association-accredited refineries. Datuk Seri Tajuddin Atan, CEO of Bursa Malaysia, said this ETF would allow investors to buy and sell gold in the same manner as trading shares on Bursa Malaysia. The government of Malaysia has also announced that ETFs traded on Bursa Malaysia will be exempted from stamp duty starting from 1 January 2018. GOLDETF’s annual fees (including management, trustee and custody fees) is 0.76%.

Bursa Malaysia launched the first Shariah-compliant alternative to the Securities Borrowing and Lending Negotiated Transaction (SBLNT) framework, called Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT). The new ISSBNT framework is based on the SBLNT model and is expected to provide a more facilitative trading environment for securities. Bursa Malaysia CEO Datuk Seri Tajuddin Atan said market participants would now have an alternative avenue which is compliant with Shariah principles. The model was chosen because it is more widely used by the market due to its flexibility. Tajuddin noted that ISSBNT is expected to bring an uplift of around 5 to 10% growth in funds transaction in the next 12 months.

Bursa Malaysia added Inter-Pacific Securities Sdn Bhd (Inter-Pac Securities) to its Islamic Participating Organisations (Islamic POs) list. Bursa Malaysia CEO Datuk Seri Tajuddin Atan welcomed the new company and said that with this addition investors would have a wider choice of Islamic POs to represent them. Inter-Pac Securities Director Tan Mun Choy expressed his gratitude for Bursa Malaysia's approval to carry out Islamic stockbroking services.
With the inclusion of Inter-Pac Securities, there are now 12 Islamic POs carrying out Islamic stockbroking services of which 1 is on a full-fledged basis (BIMB Securities) and the other 11 are on a window basis.

Bursa Malaysia Bhd has added TA Securities Holdings Bhd to its Islamic participating organisations list, making it the 11th stockbroking house and Islamic PO partnering with Bursa Malaysia-i. TA Enterprise Bhd managing director and chief executive officer Datin Alicia Tiah stated, that the inclusion will complement and broaden its product offerings.
Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said in a statement: "We hope that with the support from our brokers, we will be able to provide a conducive marketplace for the Shariah investing community which will, in turn, continue to spur the growth and vibrancy of the Islamic capital market domestically and regionally.”