CGS-CIMB launched to new two additional shariah-compliant products – iCash Trading Account and Islamic Share Margin Financing facility (“SMF-i”) – to complete its suite of products and services, this comes of the back of strong interest in Shariah investing.
The iCash Trading is basically a Shariah-compliant cash trading account that allows investor to trade with 1-time multiple trading limit using his available cash in the account for Shariah-compliant securities trading in Bursa Malaysia-i and also in various exchanges including, NYSE, NASDAQ, NYSE MKT LLC, HKEx, SGX, SET and IDX. iCash Trading offers investor brokerage as low as RM8.00 for all his online Bursa Malaysia-i trades.
Islamic Share Margin Financing (“SMF-i”) however is an alternative product to the CGS-CIMB Conventional Share Margin Financing facility that is tailor-made for Shariah Investors. SMF-i is offered under the Shariah principle of Tawarruq (Commodity Murabahah) arrangement where share trading activities are performed on Shariah-compliant Securities listed on Bursa Malaysia-i. It gives investors greater buying power and the financing flexibility to boost their investment potential by leveraging on their collaterals.
Ruzi Ajith, Chief Executive Officer of CGS-CIMB, commented that impending recovery with vaccination ramping up its is time for investors to seize the opportunity and take advantage of the potential upside arising from projected economy boom which can be expected by the end of the year. “We have also launched an array of attractive investment campaigns which are very investor-friendly, subject to terms and conditions for Shariah investments.”
CGS-CIMB offers two variations of SMF-i tailored according to investor’s preferences and trading behaviors. To complement the launch, investors can enjoy exclusive promotions such as fee waiver, welcome gift, lowest-in-town effective rate till year end. The investment firm has a global presence in over 20 countries and regional offices in Malaysia, Singapore, Indonesia, and Thailand.
