Publication:
The investment account platform: a practical application of fintech in Malaysia
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Date
2019
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Abstract
The launching of Malaysia's investment account platform (IAP) in 2016 marked another important milestone in positioning Malaysia as a leader in the Islamic banking industry. For the first time in Malaysian history, six competitive Islamic banks collectively collaborated to initiate and launch the IAP. The multi-bank platform offers multiple ventures or investment avenues for investors to invest in, and financing options and opportunities for ventures to choose from, via the intermediation of the sponsoring banks. The platform that leverages on the advance and innovative financial technology system, or fintech, offers a safe and regulated investment ecosystem with better outreach and enhanced visibility to the ventures while the investors enjoy a greater transparency and disclosure on the listed ventures (Investment Account Platform, 2016). The IAP has introduced a new innovative asset class into the Islamic financial market. Its introduction has developed and strengthened the Malaysian Islamic financial market by garnering investments from institutions as well as retail, which includes high net worth individual investors (Razak, 2015).
Keywords
Investment account platform (IAP) , Islamic financial market , Fintech , Malaysia
Citation
Kasri, N. S. and Muhammad, M. (2019). The investment account platform: a practical application of fintech in Malaysia. In Umar A. Oseni & S. Nazim Ali (Eds.), Fintech in Islamic finance: theory and practice (pp. 249-265). Abingdon, Oxon: Routledge.
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Routledge
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