FCM-I is a Shariah approved product that provides potential higher return under profit sharing mechanism (mudharabah) to customers.
You must have a FCA or FCA-i account. However, it is not mandatory for non individual business customers.
Instruct the Bank and your FCA or FCA-i will be debited accordingly. The existing account opening procedures for foreign placement is applicable for FCM-i placement.
The money will be invested in the Shariah approved instruments.
FCM-i is based on the principle of Mudharabah (profit-sharing) and offers the convenience of placing foreign currencies in profit sharing investment product.
You may enjoy profit upon maturity based on the agreed profit sharing mechanism and the prevailing rates.
Individual - USD5,000 or its equivalent in other currencies.
Non-individual - USD20,000 or its equivalent in other currencies.