BIMB Investment Management Berhad’s BEST Invest, a Robo-Intelligence Shariah-compliant ESG investing online mobile platform won the E-Commerce – Financial Services award at the Malaysia Technology Excellence Awards 2020.
The Chairman of BIMB Investment Management Berhad, Mohamed Ridza Mohamed Abdullah, said “We’ve always had Malaysians in the back of our minds when we created the BEST Invest app. With a simple smartphone, everyone can start investing in Shariah-compliant sustainable funds. We feel honoured to be presented with this prestigious award as it shows our commitment to making investing simple and easy to understand. We aim to encourage more Malaysians to start investing irrespective their financial background as we believe that financial inclusivity is the foundation of Islam”.
The awards event honours exceptional companies that lead the charge in developing groundbreaking projects, digital services, reimagined strategies and technological initiatives. Winners were judged based on uniqueness and innovation, effectiveness and impact and dynamism.
Nominees were judged by an elite panel consisting of Justin Ong, Partner and FSI Financial and Regulatory Risk Leader with Deloitte Asia Pacific, Alvin Gan SH, Executive Director, Partner and Head of IT-enabled Transformation (ITeT) with KPMG Malaysia, Hari Iyer, Executive Director for Advisory at BDO Malaysia, Michael Lim Jr, Managing Director of Crowe Growth Consulting Sdn Bhd, and Jade Leong, Advisory Partner at Ernst & Young.
The Singapore Business Review presented the award to BIMB Investment in an online ceremony on 11 September 2020 which was followed by an online video interview with the Chief Executive Officer of BIMB Investment Management Berhad, Najmuddin Mohd Lutfi, conducted by Paul Howell, Managing Editor of Singapore Business Review.
Speaking at the online award ceremony, Najmuddin said, “Almost 20,000 users have signed up with our BEST Invest app that offers Shariah and ESG unit trust funds across asset classes. It includes global equities, Asia Pacific equities, Malaysia equities, global Sukuk and money market. BEST Invest app also has Robo-intelligence to assist and guide anyone to start investing. For far too long, investing has relatively been for the few and those with the knowledge of investments. We’ve always believed that investing and innovation in terms of digital wealth solutions with user-friendliness for satisfying customer experience, should be for everyone, in other words, for all Malaysian from all walks of life.”
The BEST Invest app is BIMB Investment’s first Robo-Intelligence Shariah-compliant ESG investing online mobile platform that was launched earlier this year. As part of the company’s commitment to bringing sustainable investing to Malaysians, investors can start investing and building investment goals with a minimum of RM10 and at zero sales charge through the BEST Invest app. Investors can also invest and withdraw their investments anytime and anywhere.
The app also offers an investor the opportunity to start investing either by selecting the “Do it for Me” or the “Do it Myself” functions in the app. The “Do it for Me” function enables the Robo-Intelligence system to identify and select the best investment methods, suitable funds and the investment amount based on the investor’s risk profile. Alternatively, the “Do it Myself” function enables investors to choose the funds that they would like to invest in and invest without the assistance of the Robo-Intelligence system for a more customised experience.
BEST Invest focuses on Shariah-ESG and sustainability investing. The unit trust funds offered in BEST Invest app are all Shariah-compliant ESG funds managed by BIMB Investment Management Berhad. The topic was highlighted during the awards ceremony in light of the Covid-19 pandemic.
“Our Shariah-compliant and ESG approaches are part of that effort in promoting inclusive wealth management. Winning this award proves our belief in ESG-based investment products and investing in general, should be made accessible to everyone regardless of their background, especially in this unprecedented global situation caused by Covid-19. The twin combo of ESG and Shariah compliance promotes risk-adjusted and sustainable returns for the long run, and we believe that BEST Invest encapsulates this philosophy and is proud that BEST Invest can provide this to all man and woman.”