PETALING JAYA: Pertama Digital Bhd has announced a collaboration with CGS-CIMB Securities Sdn Bhd to develop and bring to market digital financial services that empower investors in post-pandemic Malaysia.
In a memorandum of understanding signed today, Pertama Digital executive director Sabri Rahman 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 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 Sept 21.
CGS-CIMB CEO Ruzi Rani Ajith said it is committed to applying its expertise and resources towards opportunities in 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.
Pertama Digital director of strategy Saify Akhtar said that the flight to digital has created fertile grounds for international investment platforms to land in Malaysia. These include Wahed Invest (USA), Stashaway (Singapore) and Raiz (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.”