Pertama Digital Bhd has announced a collaboration with CGS-CIMB Securities Sdn Bhd which was formalised in a memorandum of understanding (MoU) signed today. The objective of this collaboration is to develop and bring to market digital financial services that empower investors in post-pandemic Malaysia.
Sabri Rahman, Pertama Digital’s Executive Director, said, “The COVID-19 pandemic has accelerated the demand for digital financial services, including digital stockbroking. There is an opportunity to give everyone access to the capital markets, regardless of their background. Through more equitable models powered by digital, we aspire to influence how the Rakyat builds wealth in the over 10 years.”
Pertama Digital and CGS-CIMB will combine their respective strengths to create dependable products with a hyper-focus on the needs of retail customers, in support of the Capital Market Masterplan 3, launched by the Securities Commission on 21st September 2021.
Ruzi Rani Ajith, CGS-CIMB’s Chief Executive Officer, said, “As one of Asia’s leading integrated financial service providers, we are committed to applying our expertise and resources towards opportunities in our national interest. For example, we are keen to increase access to Islamic capital market products via digital channels to a wider audience both locally and regionally.”
Pertama Digital’s expertise lies in being able to drive digital adoption by the masses, as demonstrated in its widely adopted digital bail payment solution, eJamin. CGS-CIMB is a joint venture between CIMB Group Sdn. Bhd. and China Galaxy International Financial Holdings Limited, a wholly-owned subsidiary of China Galaxy Securities Co. Ltd.
Saify Akhtar, Pertama Digital’s Director of Strategy, added, “The flight to digital has created fertile grounds for international investment platforms to land in Malaysia. These include Wahed Invest from the USA, Stashaway from Singapore and Raiz from Australia. This collaboration is an opportunity to serve our diverse Rakyat via a hyperlocal strategy, giving an opportunity to those of us who are otherwise left behind.”