The decision to transition out of the Malaysian market is due to a strategic shift at the group level to focus on its core Australian operations, and as part of this strategic shift, to cease its global operation in Malaysia.

You can also refer to the announcement by the group here.

Note that your money is safeguarded by our custodian bank, CIMB Bank. Your money can't be touched by us as it belongs to you. The Custodian will still hold them so that your money is safely returned to you.

Rest assured we remain committed to fulfilling all existing obligations to our clients. A comprehensive and orderly closure process are implemented in phases to ensure the secure and efficient handling of client assets, with a targeted completion date by 30 September 2024.

We would like to encourage you to withdraw your account balance, if any, (and Raiz Kids balance too, if any). Withdrawals can be made easily from the Raiz app app or from the web.

Additionally, beginning 2 September 2024, clients will no longer be able to invest and change portfolio, except for making withdrawals.

All accounts will be closed on 20 September 2024 and any remaining account balance on that date will be automatically withdrawn and transferred to the Withdrawal Account that you have set.

Starting 16 October 2024, Raiz accounts will no longer be accessible.

Please note that money will reach your Withdrawal Account within 7 business days after the withdrawal is made during this transition period. Make sure you have linked a valid bank account i.e. registered under your name and not a third-party account or a company account to avoid any delay to the process.

Please also note that if we fail to transfer your money to you, and it remains unclaimed by you, it will be classified as unclaimed moneys and will be transferred to the Registrar of Unclaimed Money, Accountant General's Department of Malaysia.

We're anticipating a lot of activity which could lead to temporary slowdowns. We're working hard to ensure everything runs smoothly. However, if you experience any delays, we sincerely apologise.

We would like to strongly encourage you to explore the products and services offered under Amanah Saham Nasional Berhad (ASNB)'s myASNB platform for your continued investment journey including managing your investments with ease and convenience (for any further inquiries on this, you can contact ASNB directly at raizpnb@pnb.com.my if you have clicked "I Agree" in the email sent to you earlier).

While we suggest considering ASNB, our associate company, there are also other platforms available that may suit your individual needs.

You can contact us as usual at help@raiz.com.my if you need any assistance.

Please be notified, beginning 16 October 2024, our customer service phone line will stop. However, you can still contact us via email until 30 November 2024.

We follow our Privacy Policy when we collect and use your data. We keep your data as long as we need it for the reasons it was collected; like following the law, preventing fraud, solving account problems, helping with investigations, and other legal activities.

We will stop keeping your data or remove your identifying information when we no longer need it for the purposes mentioned, and it is not required for legal or business reasons.