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Where Shariah Meets Sustainability

Designed with both the Muslim and Socially Responsible investors in mind, iCash is a cash upfront trading account that allows end-users to trade Shariah-compliant stocks at low commission rates.

Access To Five Global Exchanges

As part of CGS International’s digitalisation initiative, investors can leverage iCash to trade a universe of Shariah-compliant stocks that are listed on the SGX, HKEX, NASDAQ, NYSE and AMEX.

  Discover Our Platforms

Shaping The Future Of Sustainable Finance

With iCash, we aim to create a world that truly cares for both the people and planet through the guiding principles of Shariah – morality, transparency and fairness.

Embark on a meaningful growth journey with iCash – and start caring for the community and the environment today, for a brighter tomorrow.



Low Commission Fees

Enjoy low trading commission rates for SGD, USD and HKD denominated stocks. At low rates, there is also no stipulation on how much you need to transact through iCash.

Fully Shariah-compliant Account

Designed to be end-to-end Shariah-compliant which is free from any non-Shariah elements such as interest (riba), ambiguity (gharar) and gambling (maysir).

ESG Scoring

Clients can access ESG scorings to make informed decision to invest sustainably and ethically.

Cross Device Functionality

iCash is accessible across all web and mobile application platforms.

Swift & Safe

Transfer funds to your iCash account in a quick and convenient manner with PayNow.

Embark on a meaningful financial growth journey with iCash today, for a sustainable tomorrow. #iCanShapeTheFuture

Download the iCash Brochure

Shariah Investment Advice You can Trust

Associate Professor Dr. Aznan Hasan

CGS International Shariah Advisor

Dr. Aznan Hasan is Shariah Advisor at CGS International. Currently, he is appointed as the Deputy Chairman of Securities Commission Malaysia. Also, he is an Associate Professor in Islamic Law at International Islamic University Malaysia.

Dr. Aznan serves as a member of the Shariah Advisory Board Committee for Amanahraya Berhad, Employee Provident Fund, and Sedania As-Salam Capital Sdn Bhd. Dr Aznan also serves as a member of the Shariah Advisory Boards of ABSA Islamic Bank (South Africa), Yasaar Limited (London), HSBC Amanah (Dubai), and Standard Chartered (Global).

Dr. Aznan is a Shariah consultant/adviser to Maybank Investment Bank, Hong Leong Islamic Bhd, Malacca Securities Bhd, and Inter-Pacific Bhd. He is a registered Shariah Advisor for the Islamic Unit Trust Schemes and Islamic securities (Sukuk), Securities Commission of Malaysia.Also, Dr Aznan serves as the Chairman of the Shariah Committee at Etiqa Takaful Berhad, Bank Pembangunan Malaysia Berhad.



Akses saham patuh syariah di 5 bursa sejagat bagi pelabur SG

Berita Harian • 24 Jun 2022

PELABUR runcit di Singapura kini boleh mengakses saham patuh syariah di lima bursa sejagat di bawah sebuah akaun dag...


CGS International launches Singapore's first syariah-compliant trading account

The Straits Times • 23 Jun 2022

SINGAPORE - Brokerage CGS International Securities aims to provide more Islamic structured investment options for th...


CGS International Securities unveils first Shariah-compliant cash upfront tradi...

The Edge Singapore • 23 Jun 2022

CGS International Securities has launched iCash, a cash upfront trading account, in Singapore. The first of its kind, iCash will allow inves...


银河—联昌证券推出 遵循伊斯兰法股票交易平台

Lianhe Zaobao • 25 Jun 2022

银河—联昌证券(CGS International)在本地推出首个遵循伊斯兰法(Shariah-compliant)的股票交易平台iCash。新平台属于现金。。。



NNA Japan • 27 Jun 2022



CGS International Securities launches Shariah-compliant trading solutions

FinanceAsia • 23 Jun 2022

Last week the firm launched two new app-based products, iCash and iTradeSyariah, which offer Singapore and Indonesia-...


What is iCash?
iCash Account (iCash) is a cash upfront trading account that allows you to trade Shariah-compliant stocks with a low commission rate.
What are the markets available for iCash?
iCash allows you to trade equities-listed counters on Singapore Exchange (SGX), Hong Kong Exchange (HKEX), and US Exchanges (NASDAQ, NYSE, and AMEX).
How do I start to trade with iCash?
All you need is an online iCash account with CGS International.
- Use Cash Top-up feature in CGS iTrade to transfer funds via PayNow to your iCash trading account.
- Use FX Conversion to convert your cash balance from SGD to USD / HKD to get Investment power in respective currencies. This protects you from post trade currency exposure when you trade foreign markets.
- Use the "iCASH" payment mode while placing orders
How do I top up my cash balance?

You can top-up your cash balance in SGD using the Cash Top-Up feature from CGS iTrade or CGS iTradePro and iTrade (Mobile). Cash Top-up feature allows you to transfer funds via Paynow to your trading account.

Use FX conversion feature in CGS iTrade to convert your cash balance from SGD to USD / HKD and vice versa to get investment power in USD / HKD currencies, respectively.

Am I allowed to contra my trades on iCash?

No. Contra is not applicable for iCash as buying and selling of shares using Cash Upfront requires you to fund your trading account first where both your purchase and sales proceeds will be debited or credited respectively on due date.

Sales proceeds excluding transaction fees from your sell trade using Cash Upfront will be immediately returned to your Investment Power, which you can use to place the next order.

Are there any charges for transferring money into or out of the trading account?
There is no charge for cash top-up and withdrawal.
Am I still entitled to dividends, rights, and shareholdings?
Yes, there is no change to your entitlements.
Who will screen and provide the Shariah compliant status stocks?
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 50 countries. The equities have gone through a precise screening process and more than 11,000 are certified as Shariah compliant.
What is the Shariah screening methodology adopted?

Refinitiv Shariah screening methodology is based on the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Shariah mandate. The Shariah-compliant stocks are being screened monthly basis, using a research-based approach. Therefore, they provide a reliable and accurate Shariah-compliant benchmark, which ensures the most recent Shariah-compliant status.


Financial Screening
- Interest-bearing debt over assets < 33%
- Cash, cash equivalents and short-term investments over assets < 33%
- Cash, cash equivalents and receivables over assets < 50%
Business Activities Screening

Companies are only considered compliant from a business perspective if the cumulative revenue and non-operating interest income from non-compliant activities does not exceed 5% of their total income. Non-compliant income sources include: Adult Entertainment, Alcohol, Cinema and Broadcasting, Conventional Insurance, Conventional Financial Services, Defense, Gambling, Hotels, Music, Operating and Non-operating Interest Income, Pork and Tobacco.

Can I buy a Shariah non-compliant stock with iCash?
No. iCash only allows end-users to trade Shariah compliant stocks.