MIDF’s New Digital Investment Platform Allows Malaysians to Invest in US Stocks and ETFsJuly 6, 2021 0 comments
MIDF Amanah Investment Bank, a subsidiary of Malaysian Industrial Development Finance (MIDF), unveiled its online investment platform MIDF Invest which allows Malaysians to invest in stocks and ETFs listed on the New York Stock Exchange (NYSE) and Nasdaq.
The MIDF Invest app that provides tutorials and research for the novice, charting and other powerful trading tools for the advanced user, and simplifies fund transfers to and from the investor’s Malaysian bank account.
Users can open an Islamic account and invest in the large universe of Shariah-compliant shares such as Apple, Alphabet, Facebook and Tesla and ETFs listed on the NYSE and Nasdaq.
From 6 to 31 July 2021, MIDF Invest will offer free brokerage for all trades under US$1,000.
This product is delivered in partnership with Saxo Markets Asia Pacific which is a licensed subsidiary of Saxo Bank, a regulated provider of investment services and technology.
Dato’ Charon Wardini Mokhzani, Group Managing Director of MIDF said,
“In recent years Malaysian investors, both fund managers and individuals, have become more sophisticated and knowledgeable, and we have seen a growing interest in investing in other markets, particularly into the US stock markets.
We have created this app because we believe that investing overseas should be made available and affordable for all.”
Khairi Shahrin Arif Baki, Senior Vice President and Head of Digitalisation for MIDF said,
“The power to make money work for you is in your hands via MIDF Invest.
So, whether your aim is to achieve a financial goal or just to earn some passive income, now it can be done with confidence and ease,”