KUALA LUMPUR: Maybank Asset Management Sdn Bhd (MAM) targets to clinch RM100 million assets under management (AUM) in the next 12 months with the launch of its Shariah-compliant artificial intelligence (AI)-powered Hyper-Customised Discretionary Portfolio Mandate (DPM), tailored for high-net-worth clients in Malaysia.
Its chief executive officer (CEO), Ahmed Muzni Mohamed, said the offering, introduced in collaboration with Arabesque AI, is set to elevate Maybank Islamic wealth management to serve clients’ investment needs better.
“This puts MAM Malaysia in a prime position to deliver Shariah-compliant investment opportunities for the targeted investors,” he said at the launch ceremony for the AI-powered DPM solution today.
Maybank Islamic Asset Management Sdn Bhd CEO Belqaizi Taufiq said the group is not just targeting existing but also new clients to utilise the platform.
He said that in the future, the group is looking to expand the service to a wider segment of investors.
Maybank Islamic Bhd CEO Datuk Mohamed Rafique Merican added that after Malaysia, the DPM investment offering would be expanded to other markets where the group has a significant presence.
He said the group is still focusing on growing its Islamic franchise.
Mohamed Rafique added that he believes the bank can create value for the Islamic space via its present domestic and international offices when asked about Bursa Malaysia Bhd’s call for banks to list their Islamic unit.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar in August urged financial institutions to consider listing their Islamic banking subsidiaries to address the limited availability of Shariah-compliant equity instruments within the financial services sector. -Bernama
