By LYDIA NATHAN
Bursa Malaysia Bhd has bagged three awards at the recent Global Banking and Finance Review Awards.
Bursa Malaysia won “Most Innovative Global End-to-End Shariah-Compliant Investing Platform Asia 2017” for its Bursa Malaysia-i; “Best Commodity Trading Platform Asia 2017” for the outstanding performance of its Shariah-compliant commodity trading platform, Bursa Suq Al-Sila’ (BSAS); and “Best Islamic Exchange Asia 2017” for the outstanding performance of its Islamic Capital.
Its CEO Datuk Seri Tajuddin Atan said this is the third consecutive year that Bursa has been recognised for its contribution in the global markets.
“This is the third consecutive year Bursa Malaysia is being recognised by the Global Banking and Finance Review for our efforts in developing and promoting the Islamic Capital Market through Bursa Malaysia-i and BSAS. The recognition also validates our continuous efforts to provide a diverse range of Shariah-compliant products that cater to both our institutional and retail audience.”
The introduction of Bursa Malaysia-i in September 2016 was mainly to strengthen the exchange’s role as a key Islamic capital market hub in Asean and more.
Being the world’s first end-to-end Shariah-compliant investing platform, it was the apex of the country’s long standing commitment to making Malaysia a comprehensive Islamic investing hub. It was awarded the Gold Medal for The Most Innovative Non-Food & Services Category recently at the Malaysia International Halal Showcase this year.
The Best Commodity Trading Platform Asia was awarded to BSAS, which is responsible in facilitating Murabahah and Tawarruq transactions. According to reports, BSAS has recorded a growth rate of 112.2% since its commencement in 2009. One of its key achievements was having the ability to undertake commodity trading in various major currencies, made possible by the availability of a large supply of physical commodities.
Malaysia’s Islamic capital market has been on an uphill surge in the last few years.
As at the end of March 2017, 74.4% of companies listed on Bursa Malaysia are currently Shariah-compliant, while the Shariah market makes up 62.4% of the total market capitalisation of RM1.8 trillion.