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CIMB launches Islamic securities services

Posted on October 20, 2011, Thursday

KUCHING: CIMB Group Holdings Bhd (CIMB) launched its Islamic securities services at the sidelines of the IFN 2011 Investors and Issu­ers Asia Forum recently aiming to reinforce its position as a fully-integrated service provider.

In its press release yesterday, CIMB said, “We offer syariah-compliant securities services on a single platform to institutions and individuals, both domestic and abroad.

“Our group’s Islamic securities services leverage on the expertise of our four business units compris­ing trustee services and products, custody, corporate agency and fund accounting.” CIMB Islamic executive director and chief ex­ecutive officer, Badlisyah Abdul Ghani addressed the urgent need for the establishment of the inte­grated Islamic securities services platform, “Research has revealed that overall Islamic asset man­agement industry has grown at an ‘astronomical rate’ of 20 per cent per annum, amounting up to US$292 billion in 2009.” Badlisyah believed the shift from traditional investments of equities and real estate funds to alternative assets investments such as syariah-com­pliant exchange traded funds and hedge funds evidenced the critical untapped opportunities for service providers.

The company launched the Islamic securities in hopes that its global market share would be increased as it addressed the evolv­ing investment landscape.

It aimed to establish itself as the central hub for Islamic business in the region.

 

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