KUALA LUMPUR: Bursa Malaysia Bhd launched the world’s first Shariah-compliant alternative to the Securities Borrowing and Lending Negotiated Transaction (SBLNT) framework, called Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT). “This new instrument would further develop the Shariah-compliant securities,” said Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan. The ISSBNT framework, which is based on the SBLNT model that has been in existence since 2009, is expected to provide a more facilitative trading environment and improve trading liquidity and velocity of securities. Tajuddin noted market participants will now have an alternative avenue which is compliant with Shariah principles. “In our domestic market, 61 per cent of the counters on Bursa are Shariah-compliant.

Source: New Strait Times December 12, 2017 05:11 UTC