By TMR

Affin Hwang Investment Bank Bhd has become the first bank to be an approved supplier and user under the newly launched Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT) model — an alternative to conventional securities borrowing and lending (SBL) — launched by Bursa Malaysia.

As a Bursa-approved supplier and user, Affin Hwang can undertake the buying and selling of Shariah-compliant securities for its own account, as well as administer ISSBNT owners’ activities, as an agent (wakalah).

“This activity demonstrates Affin Hwang’s commitment to be a leader in the securities industry in Malaysia, and proves our provision of service excellence to our clients,” Affin Hwang Capital group MD Datuk Maimoonah Hussain (picture) said in a statement yesterday.

The new model was launched by Bursa Malaysia last year to provide a more facilitative trading environment. — TMR