The MoU marks BIMBs inaugural direct partnership with a global asset management firm as it bring aboard Nomura as its asset management partner.
KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB) expects its fee-based income to hit a fresh record in 2024 driven by its bancatakaful business.
BIMB wealth management director Datin Sarah Muttalib said the contribution from fee-based products had increased significantly in this year compared with 2021.
She said this was mainly driven by the emphasis on protection schemes such as bancatakaful which is now considered a product under wealth management.
“One of the reasons we see an increase in terms of profitability under fee-based incomes is through bancatakaful. In terms of investments, we have unit trusts which have also recorded an increase. God willing, we will post a record fee-based income in 2024,” she said after the signing of a memorandum of understanding (MoU) between BIMB and Nomura Asset Management Malaysia here yesterday.
The MoU marks BIMBs inaugural direct partnership with a global asset management firm as it bring aboard Nomura as its asset management partner.
The two parties will collaborate to deliver innovative investment solutions to meet the financial aspirations of clients while also contributing positively to society and the environment.
The partnership will see Nomura offer six investment products: Nomura Global Syariah Semiconductor Equity Fund, Nomura Global Syariah Sustainable Equity Fund, Nomura Global Syariah Strategic Growth Fund, Nomura i-Income Fund, Nomura i-Cash Fund, Nomura i-Income Fund 2 to BIMB’s customers.
Nomura managing director Leslie Yap said each fund was crafted with careful consideration for the underlying assets, in order to make sure that they are adhering to Islamic financial guidelines.
“This partnership with BIMB is not just business. Through this partnership, we are taking an important step towards enhancing financial inclusivity in Malaysia, making it easier for everyone to access investment opportunities that adhere to Islamic principles,” Yap said.
