PETALING JAYA: CGS-CIMB Securities Sdn Bhd has become the first broker in Malaysia to launch retail Islamic cross border trading (ICBT) services through its online platform CGS-CIMB iTrade.
In a statement, the brokerage firm said the ICBT provides a complete Islamic ecosystem with Shariah screening provided by Refinitiv Eikon.
“It offers a broad collection of Islamic equities with over 30,000 company stocks listed from more than 34 countries. The equities go through a precise screening process and more than 11,000 are certified as Shariah compliant.
“The companies are screened monthly depending on the financial disclosure updates. The exchanges available includes NASDAQ, NYSE, NYSE American, HKEX, SGX, IDX and SET.,” it said.
In line with the new offering, CGS-CIMB will also organise a series of nationwide roadshows and seminars online as well as a social media campaign to educate the public on global and local Shariah compliant investments and financial literacy.
“During the time of uncertainties, there are pockets of investment opportunities abroad and local. Therefore, investors can consider diversifying their investments to reduce the impact of market volatility. Hence, we are in the opinion that the launch of this product is timely. We encourage the public to follow the iTrade Islamic Facebook page to gain more investment and financial insights,” said CGS-CIMB CEO Ruzi Ajith.