Bursa Suq Al-Sila
BURSA SUQ AL SILA OVERVIEW
Bursa Malaysia through its wholly-owned subsidiary, Bursa Malaysia Islamic Services Sdn Bhd has officially launched Bursa Suq Al-Sila’ or commodities market in Arabic on 17 August 2009. It was previously known as Commodity Murabahah House. Bursa Suq Al-Sila’ is another effort to promote Malaysia as an international Islamic financial centre. It will serve the growing demand for Shariah-compliant financing needs and close the gap currently faced by international Islamic financial players. Bursa Suq Al-Sila is the world’s first Shariah-based international commodity platform is fully electronic and facilitates commodity based Islamic financing and investment transactions under the Shariah principles of murabahah, tawarruq and musawwamah..
The platform is the first initiative of its kind in the world encompassing a hybrid market providing participants a choice between participating in the exchange through the traditional voice broking system or the faster automated electronic exchange system which is web-based. In the initial stage, crude palm oil is used as the launch commodity or as underlying asset and this will expand to other Shari’ah approved commodities such as tin, coal and aluminium in the near future.
Bursa Suq Al-Sila' is a commodity trading platform specifically dedicated to facilitate Islamic liquidity management and financing by Islamic banks. Initiated as a national project, Bursa Suq Al-Sila' exhibits the collaboration of Bank Negara Malaysia (BNM), the Securities Commission Malaysia (SC), Bursa Malaysia Berhad (Bursa Malaysia) and the industry players in support of the Malaysia International Islamic Financial Centre (MIFC) initiative. It receives close co-operation and strong support of the Ministry of Plantation Industries and Commodities through the Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Association (MPOA) and Malaysian Palm Oil Council (MPOC). The exchange has 33 registered members, comprising financial
Bursa Malaysia through its wholly-owned subsidiary, Bursa Malaysia Islamic Services Sdn Bhd has officially launched Bursa Suq Al-Sila’ or commodities market in Arabic on 17 August 2009. It was previously known as Commodity Murabahah House. Bursa Suq Al-Sila’ is another effort to promote Malaysia as an international Islamic financial centre. It will serve the growing demand for Shariah-compliant financing needs and close the gap currently faced by international Islamic financial players. Bursa Suq Al-Sila is the world’s first Shariah-based international commodity platform is fully electronic and facilitates commodity based Islamic financing and investment transactions under the Shariah principles of murabahah, tawarruq and musawwamah..
The platform is the first initiative of its kind in the world encompassing a hybrid market providing participants a choice between participating in the exchange through the traditional voice broking system or the faster automated electronic exchange system which is web-based. In the initial stage, crude palm oil is used as the launch commodity or as underlying asset and this will expand to other Shari’ah approved commodities such as tin, coal and aluminium in the near future.
Bursa Suq Al-Sila' is a commodity trading platform specifically dedicated to facilitate Islamic liquidity management and financing by Islamic banks. Initiated as a national project, Bursa Suq Al-Sila' exhibits the collaboration of Bank Negara Malaysia (BNM), the Securities Commission Malaysia (SC), Bursa Malaysia Berhad (Bursa Malaysia) and the industry players in support of the Malaysia International Islamic Financial Centre (MIFC) initiative. It receives close co-operation and strong support of the Ministry of Plantation Industries and Commodities through the Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Association (MPOA) and Malaysian Palm Oil Council (MPOC). The exchange has 33 registered members, comprising financial