Saturday, April 13, 2024
ReportMIDF forays into Islamic fintech with investment app

MIDF forays into Islamic fintech with investment app

Malaysia’s MIDF Amanah Investment Bank is appealing to the more digital-savvy investor community with is online investment platform, MIDF Invest, allowing Malaysians to access the US Islamic equity market directly.

Through the app, users can open an Islamic account and invest in Shariah compliant shares and exchange-traded funds listed on the New York Stock Exchange and NASDAQ. MIDF Invest was developed in collaboration with Singapore-based broker Saxo Markets Asia Pacific, a subsidiary of Danish investment bank, Saxo Bank.

The introduction of the mobile app has been driven by the growing appetite for US equities, particularly US technology companies, among Malaysians.

MIDF is wholly-owned by Permodalan Nasional, one of the country’s largest fund management houses.


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