With iCash, investors can screen for products that are aligned with the key principles of Shariah – morality, transparency and fairness, says CGS-CIMB.
Retail investors keen on making an impact can also leverage iCash to screen for stocks that are in line with the world’s climate change objectives on the exchange.
iCash will be integrated with CGS-CIMB’s iTrade platform.
The inclusion of iCash comes at a time when the global shariah-compliant funds market has grown by more than 300% to reach $200 billion in assets under management (AUM) in under a decade, says CGS-CIMB.
See also: Olam Agri secures inaugural US$625 mil Shariah-compliant financing facility
Shariah-compliant investments have surpassed 20% of Southeast Asia’s mutual fund AUM share, it adds.
“iCash is integral to our firm’s line-up of retail products and services. With the addition of the trading account, we are essentially offering both existing and prospective retail clients’ diversity, enabling them to meet their mid- and long-term investment needs,” says Syed Muhamad Alsagoff, Singapore head of Shariah investment services, CGS-CIMB Securities.
