ISB-W account is used for trading in Shariah-compliant securities approved by the Shariah Advisory Council of the Securities Commission Malaysia and /or other Exchanges offered for trading by CGS International Securities Malaysia Sdn Bhd.

Local Shariah-compliant securities are securities of companies listed on Bursa Malaysia Securities Berhad, whose business conforms to the Shariah requirement and the criteria established by the Shariah Advisory Council of the Securities Commission. The Shariah Advisory Council of the Securities Commission will 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: https://www.sc.com.my/ (at Development (tab) select & click Islamic Capital Market, then look for updated List of Shariah-Compliant Securities by SC's Shariah Advisory Council.

ISB-W is open to the following:

1. local and foreign individuals (Muslim and Non-Muslim) aged 18 and above;

2. corporations; and

3. institutions.

ISB-W benefits:

1. For peace of mind since there are no elements of Maysir (gambling), Riba’ such as contra service charge, interest charge and Gharar (uncertainty).

2. Clients’ fund (trust monies) placed in ISB-W is segregated from the conventional StockBroking.

3. Trading in Shariah-compliant securities only which do not involve in non-Shariah activities such as:

1. Financial services based on Riba’ (interest);

2. Gambling and gaming;

3. Manufacture or sale of non-halal products or related products;

4. Conventional insurance;

5. Entertainment activities that are non-permissible according to Shariah;

6. Manufacture or sale of tobacco-based products or related products;

7. StockBroking or share trading in Shariah non-compliant securities; and

8. Other activities deemed non-permissible according to Shariah.

In addition to securities of companies listed on Bursa Malaysia, we also offer ICBT which allows investor to trade on foreign exchanges. With Refinitiv Eikon Shariah Screening, we provide a Stock Selection process (Shariah Filter).

With ICBT platform, everyone can start trading regionally. The list of foreign Shariah compliant-securities available are captured in iTrade.

Exchanges available via ICBT

1. NASDAQ

2. NYSE

3. NYSE American

4. HKEX

5. SGX

6. IDX

7. SET

Refinitiv Eikon

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 34 countries. The equities have gone through a precise screening process and more than 11,000 are certified as Shariah compliant. It can be filtered via listed exchange, dividend dates and type of equity. Companies are screened monthly depending on the financial disclosure updates.

Now you can apply IPO online via eIPO. Kindly ensure that you have checked the Shariah status of the new IPO before proceeding with the application through the CDS account of your Islamic Trading account.

If you do not have an account yet with us and interested in investing in Shariah compliant stocks globally, you are welcome to open an Islamic trading account with us. Please download and print the following forms for Islamic Account Opening Form:

1. Individual Account Application Form or Corporate Account Application Form

2. General Terms & Conditions 

3. W-8BEN Form (Individual)

4. W-8BEN-E Form (Corporate) 

5. Declaration By Resident on Investment Abroad and Investment in Foreign Currency Asset Onshore - (Individual) – For ICBT (Optional)

6. Declaration By Resident on Investment Abroad and Investment in Foreign Currency Asset Onshore - (Corporate) – For ICBT (Optional)

(Important: Please complete & sign these forms in the presence of our Dealer’s Representatives.)

Note

In addition to the above forms, you will be required to open a Central Depository System (“CDS”) account. The CDS forms from Bursa Depository Sdn Bhd are available at our CGS iTrade and CGS International Securities Malaysia Sdn Bhd branches nationwide. To locate your nearest branch, please click here.