Products

Shariah-Compliant Futures

 

Shariah-Compliant Futures Account is used for trading in Shariah-compliant futures contracts. Futures contract refers to an agreement to buy or to sell the underlying which has been fixed at a specified price and on a specified date in the future. The Shariah Advisory Council of the Securities Commission Malaysia resolved that the contracts offered in Bursa Malaysia Derivatives such as FCPO, FPKO and FEPO are in accordance with Shariah principles.

CGS International Shariah Advisor has concurred that some foreign products in Specified Exchange have similar specifications such as the possibility of physical delivery and non-ribawi item are recognized and traded as Foreign Shariah-Complaint futures contract.

SCF is open to the following:
  • individuals (Muslim and Non-Muslim) aged 18 and above;
  • corporations; and
  • institutions

CGS International Futures is offering various futures contract traded on Bursa Malaysia Derivatives and Specified Exchanges as below:-

Exchange

Product Name

Currency

Bursa Malaysia Derivatives

Crude Palm Oil Futures (FCPO)

MYR

Crude Palm Kernel Oil Futures (FPKO)

MYR

East Malaysia Crude Palm Oil Futures (FEPO)

MYR

NYMEX

WTI Light Sweet Crude Oil

USD

Natural Gas

USD

CBOT

Soybean Oil

USD

Soybean

USD

Mini Soybean

USD

Soybean Meal

USD

Wheat

USD

Chicago SRW Wheat (Mini)

USD

KC HRW Wheat (Mini)

USD

Corn

USD

Mini Corn

USD

Oats

USD

SGX

SICOM- TSR20 Rubber

USD

 

If you have an existing conventional Futures Trading account, you can apply to open a Shariah-Compliant Futures Account as well.

Opening an Account

Margin, Deposit & Withdrawal

You are required to place up-front cash as an Initial Margin before trading. The required amount depends on the number of contracts that you intend to trade.

You can deposit by :

  • Cash/Cheque payment over the bank counter or ATM Machine - Deposit your cash/cheque at any CIMB Islamic Bank. 
  • CIMB Clicks – Perform online transfer to CGS International Futures Sdn Bhd's account with CIMB Islamic Bank.
    Currency CIMB Islamic Bank Account
    MYR 8605159112
    USD 860515968140

     

All payment must be made in favour of "CGS International Futures Sdn Bhd for (Name of Client)".

(A) Cheque Deposit

Cheque payments must be made in the name of "CGS International Futures Sdn Bhd for (Name of Client)".

All payments by cheque must be supported by documents below to facilitate verification of the identity of cheque issuer :

  1.   a photocopy or image of the cheque and
  2.   direct bank-in form

 

(B) Interbank Fund Transfer/Payment

For online interbank fund transfer/payment, below must be stated as recipient reference :

  1.   SCF trading account number and
  2.   SCF trading account holder’s name or NRIC/Passport No.

 

This is to ensure that funds transferred are applied to the intended and rightful recipient.

Kindly also be reminded :-

  • to ensure receipt of proper documentation including daily statements and monthly statements for all transactions undertaken;
  • to verify with CGS International Futures directly if there is any doubt on the authenticity of documents received from CGS International Futures‘ licensed Futures Broker’s Representative or anyone holding out as representing CGS International Futures;
  • not to pay cash to or bank in monies directly into the bank account of CGS International Futures‘ licensed Futures Broker’s Representative or anyone holding out as representing CGS International Futures.

How do I withdraw my cash?

Print and complete this Withdrawal Request Form. Thereafter, email the duly signed copy to your Futures Broker’s Representative.

Please contact your respective licensed Futures Broker’s Representative or Central Dealing Team at (603) 2635 9777 / (603) 2635 8908 should you have any enquiries.

FAQs

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