Malaysian digital lender Ryt Bank has launched an investment platform that allows people to invest from as little as 1 ringgit (US$0.25), and zero sales charge on investments in shariah-compliant bonds.
The platform, Ryt Invest, was launched in collaboration with local boutique investment firm Opus Asset Management.
Ryt Bank, a joint venture between Malaysian conglomerate YTL Group, and Singapore-based consumer internet and technology group Sea Ltd, was launched last October and claims to have more than 1.2 million users currently.
“Ryt Invest provides access to Malaysians who feel that investing has become too complex and expensive,” Wilson Soon, chief executive officer of Ryt Bank, says in a statement on May 30.
“With Ryt Invest, we are making investment expertise trusted by big institutions accessible through the same secure app customers already use to save, spend and pay.”
There are three investment strategies available on the platform. One is SafePlus, which invests in shariah-compliant bonds. There is no sales charge for this strategy. According Rys Bank, it is the first digital lender in Malaysia to charge zero fees on shariah compliant investments.
The second strategy is Ryt Invest Income, which invests in Malaysian blue chip stocks and bonds.
The third strategy, Ryt Invest Gold, gives investors exposure to gold-themed investment assets via stocks, bonds and exchange-traded funds.
