CIMB Niaga Officially Distributed Sharia Shares Funds With US Dollar Decomination

CIMB Niaga (Photo: Antara)

JAKARTA - PT Bank CIMB Niaga Tbk (CIMB Niaga) officially distributes mutual sharia share fund products denominated by US dollars. This is done in collaboration with PT Principal Asset Management (Indonesian Principle).

CIMB Niaga Head of Preferred, Wealth and Insurance Business Ariteguh Arief said that his party is committed to focusing on customers through the provision of optimal banking services and becoming a bank providing complete investment products.

Through a partnership with the Indonesian Principal, the US dollar-based sharia share mutual fund product is expected to complement and optimize the diversification of customer investment options.

"We hope that this partnership will continue to develop and provide optimal benefits for our customers throughout Indonesia," said Ariteguh quoting Antara.

The product, referred to as the ASEAN Equity Syariah Sharia Mutual Fund (USD), focuses on investing in the ASEAN region, except for the Philippines.

The product aims to obtain capital growth in the medium to long term through investment in equity securities, which are in accordance with sharia principles in the capital market in US dollars.

The product managed by the Indonesian Principal is part of the Principal Financial Group (PFG). PFG is a global financial service registered with Nasdaq with CIMB Group Holdings Berhad.

President Director of Indonesian Principals Narest Krishnan said CIMB Niaga has been the partner of the Indonesian Principal for the past 15 years. Meanwhile, CIMB Group Holdings Berhad is also a regional partner for the Indonesian Principals.

"With our reputation as the leading banking group in Southeast Asia and the leading wealth management solution provider in Indonesia, we are very happy to be collaborating with CIMB Niaga to distribute our main offshore mutual fund product, namely the ASEAN Equity Syariah Islamic Principal Syariah Mutual Fund (USD)," said Narest.

CIMB Niaga said that cooperation with the Indonesian Principal is expected to increase customer satisfaction and trust in investing in the offshore fund equity available at CIMB Niaga.

Customers can expand their investment and portfolio diversification options on foreign equity with US dollars and a focus on investing in the ASEAN region.