Bursa head of investor development Stephanie Tan said the need for modernisation becomes evident as the market landscape continues to change and evolve.

“Emerging asset classes, financial instruments, and investment strategies present opportunities (for investors) to thrive in this evolving environment,” she said.

Embracing a wider range of financial instruments – like sukuk, Islamic exchange-traded funds (i-ETF), and Islamic REITs – can lead to increased access to diverse investment opportunities, improved liquidity, and accommodates varying risk profiles, she added.

Tan made the statement during the opening remarks of Invest Shariah Conference 2023 today, on behalf of Bursa CEO Umar Swift.

As of June, 81.9% of the total market capital on Bursa was shariah-compliant, she said.

“At the same time, the total market cap for the five Islamic REITs made up 43% of the 19 REITs listed on the exchange.

“Meanwhile, there are six i-ETFs, making up 18.9% of the net asset value of the 20 ETFs listed on Bursa,” she said.

Tan noted that the future for shariah investments appears exceedingly promising, thanks to the emergence and significance of shariah-compliant technological solutions.

“With technological innovations continually evolving, the industry is poised to experience unprecedented growth and global recognition,” she said.

Organised by CGS-CIMB Securities Sdn Bhd, the one-day conference titled “Navigating the Shariah Horizon: Diversifying Investment Frontiers” aims to create awareness and explore interesting topics related to shariah-compliant products and services.