Malaysia warns against four unauthorised companies

They have similar names to companies authorised by BNM but are not related to them.

Malaysia’s central bank has added four companies to its Financial Consumer Alert list.

Wahed Trade Team Investment, Salam Mohd Asri Ahmad (including Labur Saham Syariah and Asri Ahmad Academy), MIDF Investment Scheme, and Invest KL Malaysia have been added to the list.

The list is composed of companies and websites that are neither authorised nor approved under the relevant laws and regulations administered by Bank Negara Malaysia (BNM).

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Wahed Investment Trader is not related to Wahed Technologies Sdn Bhd, which is licensed under Securities Commission Malaysia.

Similarly, Invest KL Malaysia is different from InvestKL; and MIDF Investment Scheme is not related to MIDF Amanah Investment Bank Berhad).