Maybank to facilitate the trading of shariah-compliant securities on Bursa under ISSBNT framework
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KUALA LUMPUR: Under the Islamic Securities Selling and Buying — Negotiated Transaction (ISSBNT) framework Bursa Malaysia has added Maybank Investment Bank Bhd(Maybank IB) as a user and supplier.

In the new role as a supplier and user, MaybankIB responsibilities will be to facilitate the selling and buying of Shariah-compliant securities. While adhering to Shariah principles, Maybank will enable risk management and hedging activities for market participants.

The Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT) framework was launched in December 2017 and is the world’s first Shariah-compliant alternative to Lending and Borrowing Securities. The purpose of the development of ISSBNT was to improve trading liquidity, a facilitative trading environment, and the velocity of shariah-compliant securities.

Bursa chief executive officer Datuk Muhamad Umar Swift said the addition of more participating organizations under the ISSBNT framework demonstrates the exchange’s commitment to growing the Islamic equity market in response to increased demand for shariah-compliant assets.

“To spur the growth and vibrancy of our marketplace, upholding Malaysia’s position as the world’s leading Islamic shariah-compliant equity market. We look forward to the increased participation and continued support from our brokers, ” he said in a statement on Monday.

The CEO of Maybank IB Datuk Fad’l Mohamed said
“We are excited to be an approved supplier and user under the ISSBNT framework. Which will enable us to support our clients’ investment management strategies,” the investment bank sees strong demand for shariah-compliant assets among investors.”

Before Maybank IB, CGS-CIMB Securities Sdn Bhd and Kenaga Investment bank bhd are added as user representatives and suppliers of the ISSBNT framework.