Shariah-Compliant Products

iCash Account

 
iCash Account (iCash) is a cash upfront trading account that allows you to trade Shariah-compliant stocks with a low commission rate. It is an end-to-end Shariah-compliant account that offers access to a wide range of Shariah-compliant stocks that are listed on five of the world’s major exchanges – SGX, HKEX, NASDAQ, AMEX, and NYSE.

Recognising the growing needs of investors who are looking for authenticity and financial sustainability, iCash is uniquely developed to offer clients access to an excellent mix of ESG scoring and Shariah-compliant securities.
 
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Why trade this product with CGS-CIMB Securities?

Available offerings for iCash

Shares and stocks represent a unit of equity ownership by a shareholder in the business of the company.

Shares and stocks are commonly used interchangeably.

Exchange traded funds (ETFs) are a type of pooled investment security that operates much like a mutual fund and traded on a stock exchange to achieve the returns that correspond to the performance of a particular index.
Real Estate Investment Trusts (REITs) invest in real estate properties and distribute revenues generated from these assets at regular intervals to REIT holders. REITs are professionally managed by REIT managers and property managers who charge a fee in exchange for their services.

Supported platform

CGS-CIMB iTrade

An intuitive and interactive platform, offering users a different look as well as all the tools an investor would need for trading.
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CGS-CIMB iTrade Mobile

A suite of mobile solutions platform on the go. Available on any smartphone or tablet devices (iOS and Android devices), such as placing orders, monitoring your stocks’ performances, viewing your investment portfolio and accessing real-time price and stock-related information on regional and global markets.

CGS-CIMB iTradePro

The platform comprises a comprehensive suite of innovative trading features, as well as advanced technical and analysis charts, specially created to meet the needs of sophisticated traders.
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FAQs

iCash Account (iCash) is a cash upfront trading account that allows you to trade Shariah-compliant stocks with a low commission rate.

iCash allows you to trade equities-listed counters on Singapore Exchange (SGX), Hong Kong Exchange (HKEX), and US Exchanges (NASDAQ, NYSE, and AMEX).

All you need is an online iCash account with CGS-CIMB.

  • 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 trading currencies. This protects you from post trade currency exposure when you trade foreign markets.

  • Select "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.

There is no charge for cash top-up and withdrawal.

Yes, there is no change to your entitlements.

Refinitiv Eikon (formerly known as Thomson Reuters Financial & Risk) is the provider of our Shariah Screening. It offers a broad collection of Islamic Equities with over 30,000 company stocks listed from more than 50 countries. The equities have gone through a precise screening process and more than 11,000 are certified as Shariah compliant.

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.

 

Open an account now

Get started and apply online with us

 
Simply contact CGS-CIMB Securities to request for an account opening pack.

1800 538 9889 / (65) 6538 9889

clientservices.sg@cgs-cimb.com

 

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Key Risks

The key risks associated with Stocks and Shares include the following. It is important to note that the list of risks is not exhaustive.
Risk Description Here

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