Where Shariah Meets Sustainability
Designed with both the Muslim and Socially Responsible investors in mind, iCash is a cash upfront trading account that allows end-users to trade Shariah-compliant stocks at low commission rates.
Shaping The Future Of Sustainable Finance
With iCash, we aim to create a world that truly cares for both the people and planet through the guiding principles of Shariah – morality, transparency and fairness.
Embark on a meaningful growth journey with iCash – and start caring for the community and the environment today, for a brighter tomorrow.
FEATURES OF iCASH
Low Commission Fees
Enjoy low trading commission rates for SGD, USD and HKD denominated stocks. At low rates, there is also no stipulation on how much you need to transact through iCash.
Fully Shariah-compliant Account
Designed to be end-to-end Shariah-compliant which is free from any non-Shariah elements such as interest (riba), ambiguity (gharar) and gambling (maysir).
Clients can access ESG scorings to make informed decision to invest sustainably and ethically.
Cross Device Functionality
iCash is accessible across all web and mobile application platforms.
Swift & Safe
Transfer funds to your iCash account in a quick and convenient manner with PayNow.
Shariah Investment Advice You can Trust
Associate Professor Dr. Aznan Hasan
CGS-CIMB Shariah Advisor
Dr. Aznan Hasan is Shariah Advisor at CGS-CIMB. Currently, he is appointed as the Deputy Chairman of Securities Commission Malaysia. Also, he is an Associate Professor in Islamic Law at International Islamic University Malaysia.
Dr. Aznan serves as a member of the Shariah Advisory Board Committee for Amanahraya Berhad, Employee Provident Fund, and Sedania As-Salam Capital Sdn Bhd. Dr Aznan also serves as a member of the Shariah Advisory Boards of ABSA Islamic Bank (South Africa), Yasaar Limited (London), HSBC Amanah (Dubai), and Standard Chartered (Global).
Dr. Aznan is a Shariah consultant/adviser to Maybank Investment Bank, Hong Leong Islamic Bhd, Malacca Securities Bhd, and Inter-Pacific Bhd. He is a registered Shariah Advisor for the Islamic Unit Trust Schemes and Islamic securities (Sukuk), Securities Commission of Malaysia.Also, Dr Aznan serves as the Chairman of the Shariah Committee at Etiqa Takaful Berhad, Bank Pembangunan Malaysia Berhad.
- Use Cash Top-up feature in CGS-CIMB iTrade to transfer funds via PayNow to your iCash trading account.
- Use FX Conversion to convert your cash balance from SGD to USD / HKD to get Investment power in respective currencies. This protects you from post trade currency exposure when you trade foreign markets.
- Use the "iCASH" payment mode while placing orders
You can top-up your cash balance in SGD using the Cash Top-Up feature from CGS-CIMB iTrade or CGS-CIMB iTradePro and iTrade (Mobile). Cash Top-up feature allows you to transfer funds via Paynow to your trading account.
Use FX conversion feature in CGS-CIMB iTrade to convert your cash balance from SGD to USD / HKD and vice versa to get investment power in USD / HKD currencies, respectively.
No. Contra is not applicable for iCash as buying and selling of shares using Cash Upfront requires you to fund your trading account first where both your purchase and sales proceeds will be debited or credited respectively on due date.
Sales proceeds excluding transaction fees from your sell trade using Cash Upfront will be immediately returned to your Investment Power, which you can use to place the next order.
Refinitiv Shariah screening methodology is based on the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Shariah mandate. The Shariah-compliant stocks are being screened monthly basis, using a research-based approach. Therefore, they provide a reliable and accurate Shariah-compliant benchmark, which ensures the most recent Shariah-compliant status.
Financial Screening- Interest-bearing debt over assets < 33%
- Cash, cash equivalents and short-term investments over assets < 33%
- Cash, cash equivalents and receivables over assets < 50%
Business Activities Screening
Companies are only considered compliant from a business perspective if the cumulative revenue and non-operating interest income from non-compliant activities does not exceed 5% of their total income. Non-compliant income sources include: Adult Entertainment, Alcohol, Cinema and Broadcasting, Conventional Insurance, Conventional Financial Services, Defense, Gambling, Hotels, Music, Operating and Non-operating Interest Income, Pork and Tobacco.