Peluang Dan Cabaran Dalam Memperkenalkan Broker Digital Bagi Pasaran Modal Islam [Oppurtunities and Challenges in Introduction Digital Broker for The Islamic Capital Market]

Authors

  • Khodijah Mohamed Amin Universiti Kebangsaan Malaysia
  • Azlin Alisa Ahmad Universiti Kebangsaan Malaysia

Keywords:

Digital broker, Islamic Capital Market, Fintech, opportunities,, challenges

Abstract

Abstrak: Suruhanjaya Sekuriti (SC) Malaysia menyasarkan Malaysia sebagai peneraju global dalam Pasaran Modal Islam (PMI). Salah satu inisiatif SC adalah dengan membantu model perniagaan pasaran modal Islam berteraskan teknologi terbaru. Namun, sehingga kini, hanya terdapat satu sahaja broker digital penuh yang diiktiraf oleh SC. Oleh itu, kajian ini bertujuan untuk mengkaji peluang dan cabaran dalam memperkenalkan broker digital bagi PMI. Kajian ini merupakan kajian kualitatif dengan mengambil pendekatan analisis kandungan sebagai kaedah pengumpulan data. Kajian dilakukan melalui perbandingan kepada kajian-kajian lepas mengenai broker digital di dalam pasaran modal konvensional terutamanya daripada sudut risiko, peluang dan cabaran broker digital Islam. Hasil kajian mendapati bahawa peluang dalam memperkenalkan broker digital bagi PMI ialah menjadikan Malaysia sebagai penyedia perkhidmatan utama dalam PMI antarabangsa, menarik minat pelabur muda serta pelabur bukan Islam, peluang inovasi produk dan mempelbagaikan platform pelaburan. Manakala cabaran dalam memperkenalkan broker digital ialah dalam aspek pengawal seliaan, keselamatan siber, meningkatkan kesedaran, membina kepercayaan dan juga kekal relevan dengan perubahan semasa.

 

Kata kunci: Broker digital, Pasaran Modal Islam, Fintech, peluang, cabaran

 

Abstract: Securities Commission (SC) Malaysia aims for Malaysia as the global lead in Islamic Capital Market. Malaysia targets Malaysia as a global leader in the Islamic Capital Market (ICM). One of the initiatives brought up by SC is to facilitate new digital business models for Islamic Capital Market service providers. Yet, to date, there is only one full-fledged digital broker certified by SC. Therefore, this study aims to examine the opportunities and challenges in introducing digital brokers for PMI. This study is a qualitative study by taking a content analysis approach as a method of data collection. The study was conducted through comparison to previous studies on digital brokers in the conventional capital market, especially in terms of risks, opportunities, and challenges of Islamic digital brokers. This study found that the opportunities of introducing a digital broker for ICM could result in Malaysia as the leading service provider for ICM globally, attract new and young investors, attract non Muslim investors, opens the door for innovation and diversify investment platforms. On the other hand, the challenges would be pertaining to regulation, cyber security, awareness, building trust as well as staying relevant in an ever-changing digital landscape.

 

Keywords: Digital broker, Islamic Capital Market, Fintech, opportunities, challenges

 

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Published

2021-09-07