Islamic Financial Services Act 2013 (IFSA) became effective on 30th June 2013. One of the main highlight under the new act is that it distinguishes Islamic Deposits and Islamic Investment Accounts (IA). The IA is a non capital guaranteed product where the return on investment is based on performance of the underlying assets. Unlike deposit products, IA is not insured by Perbadanan Insurans Deposit Malaysia (PIDM). IA can be structured with different risks and return profiles that vary in accordance with the characteristics of the assets tagged. To further support the implementation of IA offering to the public, the National 2015 Budget had announced the introduction of a new Shariah-compliant investment platform namely Investment Account Platform (IAP). IAP is an internet-based multi banks platform that was set up to facilitate channeling of funds from investors to finance viable ventures. In addition, IAP integrates significant roles of Islamic banks across the intermediation process including conducting due diligence and assessment of business viability of the ventures, conducting suitability assessment on investors and regular monitoring of venture progress.
For any enquiries, kindly contact Capital Market Department at 03-2688 2688/ 2701/ 2705 or email firstname.lastname@example.org
Capital Market Department
22nd Floor, Menara Bank Islam,
22, Jalan Perak, 50450 Kuala Lumpur