LAST_UPDATEFri, 22 Jun 2018 7pm

PNB Hopes To See Boost In Unit Holders Following Nods From Selangor, Penang Muftis

Pic: UtusanPic: UtusanKUALA LUMPUR: Permodalan Nasional Bhd (PNB) hopes to increase the number of unit holders from the current 13 million following the backing of the Selangor and Penang muftis who have issued a ‘harus’, or permissible status, for investments in the fund's products – Amanah Saham Bumiputera and Amanah Saham Nasional.

PNB Group Chairman, Tan Sri Abdul Wahid Omar, said there were several cases where unit holders had requested to withdraw their investments, as their states had not issued the fatwas.

"We have received positive feedbacks from both Selangor and Penang muftis, and our unit holders can invest in our products without any doubts,” he told reporters at the PNB-Universiti Sains Islam Malaysia (USIM) Shariah Governance and Assurance Conference 2017 here today.

Abdul Wahid said PNB had received demand for shariah-compliant unit trust funds, and in 2008, it had received approvals from the muftis from 10 states via a national-level fatwa declaring that investments in Amanah Saham Nasional Bhd were permissible.

He said PNB’s engagement with the Selangor Mufti Department had resulted in the issuance of the fatwa supporting investments in the trust fund in April this year, followed by the Penang Mufti Department’s nod in August.

"So now all the states have issued a positive fatwa status for the investments, which has always been our intention," he said.

He gave an assurance to investors that PNB would not invest in gambling, alcohol and tobacco stocks.

The one-day conference, themed ‘Towards Sustainability of Shariah Governance and Assurance in Islamic Institutions’, was jointly organised by PNB and USIM.

It aims to promote discussions and collaborations among scholars and practitioners in the field of Islamic banking and finance.