Islamic StockBroking account is used for trading in Shariah-compliant securities approved by the Shariah Advisory Council of the Securities Commission only.

Peace of mind since there is no element of Riba’ such as contra service charge, interest charge and uncertainty. Clients’ fund (trust monies) placed in ISB-W is segregated from the conventional StockBroking.

• trading in Shariah-compliant securities only,
• does not involve in non-halal activities.

ISB-W is open to the following:

(a) local and foreign individuals (Muslim and Non-Muslim) aged 18 and above;.
(b) corporations; and
(c) institutions

Yes, you can apply to open an ISB-W account:

a) For individuals and corporations (Sendirian Berhad) – open a new ISB-W Trading account - Nominee.
b) For institutions – open another direct trading account with direct CDS account or a sub trading account only if you have      appointed a Custodian Bank.

No. You are not required to close your existing conventional trading account.

Yes.

You have to be a registered user and open an i*Trade@CIMB online trading account with CIMB Investment Bank Berhad ("CIMB"). Once your trading account has been approved by CIMB, an email notification will be sent informing you that your online trading account is activated. You can now trade online to transact your securities.

Yes, you can contra an outstanding purchase position with a sale position of the same counter. A compensation or Ta’widh will be charged daily on the purchase contract amount if the purchase position is closed off after T+4.

Yes, a compensation or Ta'widh at the rate of 8% per annum shall be charged on any late payment of contra loss incurred. The compensation or Ta’widh will be charged if the contra loss remains outstanding after five (5) calendar days from the date of contra. However, out of the 8% compensation or Ta'widh charged on the outstanding contra loss, CIMB shall only keep an amount equivalent to the Overnight Islamic Money Market Rate and the balance shall be channeled to charitable bodies.

Yes, a compensation or Ta’widh for late payment at the rate of 8% per annum will be charged daily on any purchase position remains outstanding at the close of T+4 day until full settlement. However, out of the compensation charged on the outstanding purchase position, CIMB shall only keep an amount equivalent to the Overnight Islamic Money Market Rate and the balance shall be channeled to charitable bodies.

Shariah-compliant securities are securities of companies listed on Bursa Malaysia Securities Berhad, whose business conforms to the Shariah criteria established by the Shariah Advisory Council of the Securities Commission. The Shariah Advisory Council of the Securities Commission shall release the list of Shariah-compliant securities and update the list twice a year i.e on the last Friday of May and November.

The updated list can be viewed from the Securities Commission's website: http://www.sc.com.my (look for Islamic Capital Market, click more, then look for Updated List of Shariah-compliant securities by SC's Shariah Advisory Council and then click on the Updated List of Shariah-compliant securities by SC's Shariah Advisory Council).

a) If on the date of announcement the value of the securities held exceeds the original investment cost, you must liquidate them. Any capital gains arising from the disposal of the non Shariah- compliant securities made at the time of announcement can be kept by you.

b) Any excess capital gains derived from the disposal after the announcement date at a market price that is higher than the closing price on the announcement date should be channeled to charitable bodies.

You are allowed to hold your investment in the non Shariah-compliant securities if the market price of the said securities is below the original investment costs. You may keep dividends received during the holding period until such time when the total amount of dividends received and the market value of the non Shariah-complaint securities held is equal the original investment cost.

Only Shariah-compliant securities can be traded in ISB-W account. Therefore, you need to transfer the non Shariah-compliant securities in the ISB-W’s CDS account into your conventional CDS account for selling of the said securities.