MALAYSIA: Jewel Digital Venture and Raiz Invest Australia, joint venture partners of the Malaysian operation of micro investment platform Raiz, have decided to close down the business. This follows the completion of the strategic review of the business as recommended by Raiz.
While Raiz itself is not Shariah compliant, it maintained a portfolio of unit trust funds that invested in Shariah compliant assets and funds, including abrdn Islamic World Equity Fund, Nomura Global Shariah Semiconductor Fund and AHAM Shariah Gold fund.
