Maybank IB Introduces First-In-Market “Trade & Give” Initiative
Kuala Lumpur, 26 February 2014 - Maybank Investment Bank (Maybank IB) has introduced a year-long campaign called Trade & Give where a percentage of brokerage fees will be allocated for the benefit of people in need.
Trade & Give - the first such initiative of its kind in Malaysia – is introduced by the Bank to involve clients in its efforts to give back to society.
Under this initiative, Maybank IB will donate a percentage of the gross brokerage income, derived from eligible trades to micro-financing and micro-seeding funds to be given to those requiring assistance in kick-starting and developing their own businesses.
Maybank IB CEO, John Chong, said this new initiative was part of the bank‟s ongoing efforts to give back to society, in line with Maybank Group‟s mission to humanise financial services.
“The funds will be fully allocated by Maybank IB and we believe our clients will be happy to know that every eligible trade they undertake with us is also helping others to build better lives for themselves” said John.
“We had a pilot programme called „Trade & Waqf‟ for transactions by our HOT broking Shariah compliant equities trading account between August – December 2013, and collected over RM50,000 from eligible trades in the first three months itself. Of this amount, we made the first disbursement of some RM22,000 recently to Sekolah Kebangsaan Jenderam Hilir, for maintenance and upgrading of the school’s facilities,” said John.
The school was selected with the help of Perbadanan Wakaf Selangor (PWS). John added that other beneficiaries for the balance were in the process of being identified.
He also added that “Trade & Give” will be applicable to trades under Maybank IB‟s both conventional and H.O.T Broking accounts.
Meanwhile, at the presentation to SK Jenderam Hilir attended by Maybank IB, Regional Head of Equities Datin Ami Moris, the school Headmaster Ustaz Mad Azami said “We are very grateful and thankful to Maybank IB and its clients for this donation. We will put it to good use in our efforts to refurbish the school and create a safer and more conducive learning environment for our students.
(L-R) Ustaz Mad Azami (Headmaster), Ami Moris and
Puan Raqeeah Mohamad (Pusat Waqaf Selangor)