KUALA LUMPUR, April 9 — CGS-CIMB Securities Sdn Bhd has launched its retail Islamic Cross-Border Trading (ICBT) services via its online platform, CGS-CIMB iTrade, making it the first broker in Malaysia to do so.

Its chief executive officer, Ruzi Ajith said there are pockets of investment opportunities locally and abroad during these global economics uncertainties brought about by Covid-19 and crude oil crash.

"Therefore, investors can consider diversifying their investments to reduce the impact of market volatility.

"Hence, we are of 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,” she said in a statement today.

The ICBT provides a complete Islamic ecosystem with Shariah screening furnished by Refinitiv Eikon (formerly known as Thomson Reuters Financial & Risk) and offers 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 compliance.

"The companies are screened monthly depending on the financial disclosure updates,” she said.

Ruzi said the exchanges available include NASDAQ, the New York Stock Exchange (NYSE), NYSE American, Hong Kong Exchanges and Clearing Ltd (HKEX), Singapore Exchange (SGX), Indonesia Stock Exchange (IDX), and Stock Exchange of Thailand (SET).

In addition to the new offering, CGS-CIMB will also organise a series of nationwide roadshows, seminars and social media campaign to educate the public on global and local Shariah-Compliant investments and financial literacy.

The social media campaign titled "Demi Barakah” (for blessings) will be made available to the public through www.facebook.com/itradeislamic.

The seminars will be held through an online portal and on Facebook Live due to the Covid-19 situation.

"These initiatives are also part of the company’s effort and Corporate social Responsibility to improve the public’s investment and financial knowledge.

"The public can expect to gain insights into Shariah-compliant investments and financial knowledge; learn about the basics, myths and misconceptions of Shariah-compliant investment; and obtain global, as well as local market and stock updates from CGS-CIMB award-winning research analyst,” she concluded. — Bernama