• 1
  • 2
  • 3
  • 4
  • 5

Islamic investment window launched (2021)

BY Azlan Othman

Standard Chartered Securities, a subsidiary of Standard Chartered Bank, marked a milestone as the first capital market service licence holder in the country to be granted approval to conduct Islamic investment business through an Islamic window.

Minister of Home Affairs Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Haji Awang Abu Bakar bin Haji Apong as the Deputy Chairman of Autoriti Monetari Brunei Darussalam (AMBD) attended the launch event on Monday.

Standard Chartered Bank CEO and Standard Chartered Securities Chairman Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim said, “This marks a significant milestone for both Standard Chartered and the financial sector in the country with the first Islamic window approved by AMBD and Syariah Financial Supervisory Board (SFSB).

“Standard Chartered is a market leader in wealth management having established offerings in Brunei for over 20 years. Following the implementation of the Securities Market Order, Standard Chartered Securities was established as a subsidiary of Standard Chartered Bank in 2016 and have made significant strides since then to now including offering Syariah compliant investments in the market.

“Standard Chartered Securities and Standard Chartered Bank has a common goal to drive commerce and prosperity in the markets they operate in by providing solutions based on a good understanding of their customers’ needs and beliefs”.

The launch programme included a presentation by Standard Chartered Bank Head of Wealth Management and Standard Chartered Securities CEO Brenda Low on the introduction of the Islamic window as well as the subsidiary’s newly-launched Syariah Compliant Unit Trusts.

It was followed by a presentation from Standard Chartered Securities’ Syariah Supervisory Committee member Dr Aznan Hasan about managing one’s wealth in a Syariah compliant manner. RHB Islamic International Asset Management CEO and Chief Investment Officer Farid bin Kamarudin gave a briefing on two new Syariah compliant unit trusts – RHB Global Sukuk Fund and RHB Islamic Global Developed Markets Fund.

Senior officials from the Ministry of Finance and Economy, AMBD and clients of the bank and Standard Chartered Securities were also present.

-- Courtesy of Borneo Bulletin

Related Articles