Capital Index announces the launch of a new Shariah compliant trading account.
Capital Index have recently announced the launch of a new Shariah compliant trading account with a view to attracting new clients from the Middle-East and Africa. The Capital Index Islamic trading account is in strict accordance with Islamic principles and offers traders who are followers of the Islamic religion the opportunity to trade the world markets without incurring any Swap or Roll-Over fees on positions held overnight. Many traders who follow the Islamic faith are prohibited from accepting interest (“Riba”) on their trading accounts. The absence of any Swap or Roll-Over fees on the Capital Index Islamic account means that at no point will interest be charged to the account or contained within the prices quoted.
Robert Woolfe from Capital Index explains that “attracting new customers from the Middle-East and Africa has always been part of our expansion plan. We knew that if we were going to be successful in these territories we would need to create an account that was sensitive to the religious laws of Islam. Our Shariah compliant account does exactly this. The Islamic account may not contain any swap or roll over fees but will still receive all the same benefits of our most popular ‘Advanced’ trading account. Since launch we’ve already been very encouraged by the number of traders in these regions enquiring about opening an Islamic account with us.”