The survey also showed that 47% of Malaysian Muslims are currently investing, with the top three investment products being Amanah Saham Nasional Berhad (ASB) funds, Tabung Haji savings, and gold commodities, followed closely by Malaysian stocks and high-income savings accounts.
Despite a perception among respondents that Islamic investment products may yield lower returns, HLISB is committed to ensuring its Shariah-compliant solutions remain competitive with conventional counterparts, offering market-standard benefits and returns.
Dafinah Ahmed Hilmi, CEO of Hong Leong Islamic Bank, views the survey results as an opportunity to tap into a growing market by offering a comprehensive wealth management approach that aligns with Islamic wealth principles.
She emphasized the importance of Islamic banking not only in growing personal wealth but also in promoting social responsibility and ensuring that risks and profits are shared within the community.
The survey also highlighted that 77% of Malaysian Muslims lack a documented financial plan, despite 84% expressing a desire to be wealthy. This underscores the need for a comprehensive Islamic wealth management strategy to educate and guide individuals in building a financial future that aligns with Islamic principles.
HLISB’s Head of Shariah, Akmal Solihi Mohd Yazid, stressed the significance of Islamic wealth management and the bank’s commitment to helping customers maximize its potential. He highlighted that wealth acquisition, expenditure, and preservation should be conducted responsibly, adhering to Islamic principles.
To assist customers in starting their Shariah-compliant investment journeys, HLISB offers access to various award-winning Islamic funds, such as HL Dana Makmur and HL Dana Maa’rof, which have achieved impressive five-year annualized returns of 18.45% and 11.41%, respectively, as of 30 June 2024.
For those seeking shorter-term investments with lower risk, HLISB’s Term Investment Account allows customers to start investing with as little as RM500 for tenures ranging from 1 to 12 months.
In line with its commitment to enhancing Islamic wealth management advisory services, HLISB has also launched a wealth management podcast series, “Market Matters with HLB,” to provide insights and knowledge on investments and Islamic wealth management. Upcoming episodes will feature discussions on Islamic wealth management with HLB’s brand ambassadors, Lisa Surihani and Alif Satar.
For more information on HLISB’s wealth management solutions, visit here.
