KUALA LUMPUR: Malaysian Industrial Development Finance Bhd’s subsidiary MIDF Amanah Investment Bank Bhd has unveiled its online investment platform to offer Malaysians direct and safe entry to shares and ETFs listed on the New York Stock Exchange and Nasdaq at aggressive charges.Called MIDF Invest, the platform is touted to be an easy-to-use app that gives tutorials and analysis for the novice, charting and different buying and selling instruments for superior customers.It additionally simplifies funds transfers to and from the investor’s Malaysian checking account.According to MIDF, customers can open an Islamic account and spend money on Shariah-compliant shares similar to Apple, Alphabet, Facebook and Tesla, and ETFs listed on the NYSE and Nasdaq.From July 6 to 31, MIDF Invest will provide free brokerage for all trades below US$1,000.“In current years Malaysian traders, each fund managers and people, have change into extra subtle and educated, and we now have seen a rising curiosity in investing in different markets, notably into the US inventory markets.”This is pushed by the necessity to diversify one’s portfolio in addition to the sights of the excessive returns of the U.S. markets, pushed partially by the efficiency of know-how corporations.”We have created this app as a result of we imagine that investing abroad needs to be made obtainable and inexpensive for all,” mentioned MIDF group managing director Datuk Charon Wardini Mokhzani in a press release.MIDF senior vice chairman and head of digitalisation Khairi Shahrin Arif Bakri added that the platform will enable customers to realize monetary targets or to only earn some passive revenue.The product is delivered in partnership with Saxo Markets Asia Pacific, a licensed subsidiary of Saxo Bank, a well-regulated and industry-leading supplier of investment companies and know-how.
MIDF launches NYSE, Nasdaq online investment platform
