Are all CIMB FDs Shariah-compliant? | Islamic Finance Singapore

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Stock investing

FAQ #1: Should the use of the one third ruling for Shariah screening be reconsidered?
FAQ #2: Does the Sharia Screening of SRI presented follows certain school of Fiqh or is it common to all schools?
FAQ #3: Can we say responsible investing, SRI and ESG are taken care of by Shariah compliant investments?
FAQ #4: Are there any investments that specifically exclude investment in illegally occupied Palestine ?
FAQ #5: We have some standards mentioned by scholars which give a 33% of interest but where is the source of that?
FAQ #6: Does index screening consider contract methods like sukuk, musharakah, mudarabah, etc.?
FAQ #7: Is merely being Shariah compliant sufficient to meet the objectives of Shariah?
FAQ #8: Is options trading in line with Islam, considering down-payment comparisons?
FAQ #9: Isn’t investing in the stock market also gambling?
FAQ #10: Is the debt to market cap ratio AAOIFI’s new stock screening standard for Shariah-compliant funds?
FAQ #11: Sabana removes Shariah compliance; Is it advisable for my fiancé to keep or liquidate his units?
FAQ #12: What makes stock market investments halal? Which companies to avoid? Are tech and commodity investments, like Apple or gold, halal?
FAQ #13: Can Shariah screening apply to Islamic Microfinance via MIVs, or does it require a specific framework for unique features?
FAQ #14: What’s the boundary for halal investors to invest in a company with military-related activities or equipment?

Personal finance

FAQ #15: What would a very good financial habit you particularly suggest the youth could follow and gain benefit from?
FAQ #16: As youth, how to start Shariah-compliant investing for income, ensuring ethical choices and financial growth?

Fiqh on money

FAQ #156: Can I donate bank interest from a late family member’s account to Wakaf?
FAQ #152: Is a mortgage advisor job halal?
FAQ #145: Is money earned from working in the IT Department of a casino firm halal?
FAQ #17: Is it true that CPF interest is not considered riba according to MUIS fatwa?
FAQ #18: What are the parameters for Darurah or Hajah?
FAQ #19: Why there are divergent views of allowing or not allowing to buy a 2nd property with usurious loans?
FAQ #20: Are there any similar fatwa globally for the position above (on taking a second usurious loan)?
FAQ #21: Is it haram to trade Forex?
FAQ #22: Can I buy gold with credit cards?
FAQ #23: Is delaying payment by a debtor allowed?
FAQ #24: Is it permissible to stipulate a penalty on the debtor for a delay in payment?
FAQ #25: Can I as the creditor sell the mortgaged assets to pay off the debt?
FAQ #26: Can the creditor demand full payment of the debt for one failed installment?
FAQ #27: Can I charge my debtor for all the expenses incurred to recover the debt?
FAQ #28: Is working in an insurance company under the IT department halal?
FAQ #29: If Riba’ is haram, does that mean we shouldn’t take any loans in Singapore?
FAQ #30: If Riba’ is haram, does that mean we can’t take vehicle loans nor use insurance or deposits to beat inflation?
FAQ #31: What should I do once I get my surplus money from a T-bill investment?
FAQ #32: If Riba’ is haram, how then do we beat inflation rates in today’s economy?
FAQ #33: Are auctions like ebay permissible?
FAQ #34: As a Grab Food or company deliverer, would my earning be halal if I deliver non-halal food or drinks?
FAQ #35: What should I do with haram money such as bank interest?
FAQ #36: Is cashback equivalent to interest?
FAQ #37: Is a Financial Advisor’s income halal?
FAQ #38: Is it permissible to accept company stocks as compensation if its finances make them non-compliant?
FAQ #39: Is it permissible for a civil servant to accept an investment bonus from the Ministry of Home Affairs funded in bonds and equities?
FAQ #40: Is it permissible to take a housing loan to upgrade from HDB to private for wealth preservation, considering similar loan amounts?
FAQ #41: What’s the objective behind Malays saying ‘I buy’ and sellers responding with ‘I sell’ during purchases?
FAQ #42: Is using interest from savings for school bills permissible? If not, alternative suggestions for ethical use?
FAQ #43: Is taking a loan with interest for house upgrade permissible?

Islamic Finance

FAQ #155: Will the Shariah Compliance of a halal ETF be affected if it uses derivatives?
FAQ #146: What’s the difference between an Islamic SME loan vs a Conventional SME loan?
FAQ #44: The direction where Islamic finance is in Singapore
FAQ #45: What’s the difference between an Islamic SME loan vs a Conventional SME loan?
FAQ #46: What is riba (usury), and what does Shariah say about it?
FAQ #47: How are loans associated with usury (riba)?
FAQ #48: Is the loan interest considered as riba?
FAQ #49: How about purchasing a car or motorcycle using a loan for transportation purposes as a consumer?
FAQ #50: How were the Shariah compliance thresholds (33%, 5%, 20%, 49-50%) determined?
FAQ#51: What advice for Muslim finance students, and what are upcoming trends/needs in Singapore’s Islamic Finance industry?
FAQ #52: In Maybank Islamic car financing, if a buyer defaults, does the bank or car dealer repossess the car?

Islamic Economics

FAQ #53: Can the government set a price ceiling?
FAQ #54: Is it permissible to buy sugar at a marked-up price during a shortage, considering certain conditions?
FAQ #55: Is it allowed in Islam to hoard goods and exploit price fluctuations for higher profits later?

Commercial Matters In Islam

FAQ # 154 : Is purchasing pre-order items halal? Is it considered gharar contract?
FAQ #153: Is Atome Shariah-compliant?
FAQ #56: Are we only allowed to say “I buy” and “I sell” in concluding a transaction?
FAQ #57: Is a big-ticket purchase valid without saying ‘I buy’ or ‘I sell’?
FAQ #58: Is selling goods not in possession permissible in Islam?
FAQ #59: Is selling haram items, like cigarettes, allowed in Islam?
FAQ #60: In the context of fishing, can a person sell worms even though worms are haram for consumption?
FAQ #61: Can we sell cow dung for farming, despite its najis status?
FAQ #62: Are non-Muslims allowed to buy or sell the Quran?
FAQ #63: Original branded goods are usually pricey. Is it haram if we buy counterfeit or imitation goods?
FAQ #64: Are auctions permitted in Islam?
FAQ #65: Is bargaining with the seller to reduce purchase price allowed in Islam?
FAQ #66: As discussed previously about the Murabahah method of selling, do Islamic banks use this method as well?
FAQ #67: If Islamic Banks do not adopt interest (riba), why are their services not cheaper than conventional banks?
FAQ #68: Besides selling haram items like drugs, alcohol and so on, are there any forms of trading that are haram?
FAQ #69: If I cancelled my intention to purchase a car or a house, my initial deposit is forfeit. Is this allowed in Islam?
CFAQ #70: Can we buy and sell cats?
FAQ #71: Can a seller sell what does not exist or is not in possession at that moment to a buyer?
FAQ #72: Can a speaker/lecturer promote or sell his book or when giving a lecture or a religious class at a mosque?
FAQ #73: Is numerology permissible in Islam?
FAQ #74: Is charging a late fee for overdue payments considered permissible in Islam or categorized as Riba?
FAQ #75: Is it advisable to entrust expensive jewelry to others, and should the safekeeper reimburse for theft?
FAQ #76: Is it permissible for a seller to impose usage conditions, such as speed limits, on purchased items?
FAQ #77: Are there any concerns in Islam with buying goods based on pictures and descriptions alone?
FAQ #78: Does the wealth disparity between brokers and producers in business contradict Islamic economic principles?
FAQ #79: Is it permissible to sell non-halal meats like lizards and snakes to non-Muslims in some cultures?
FAQ #80: Is it permissible for young and healthy individuals to sell blood, ovary eggs, or semen?
FAQ #81: Is it permissible for a seller to transparently disclose the item’s cost and the intended profit?
FAQ #82: Is it permissible to increase the initially agreed-upon installment price or impose late payment charges?
FAQ #83: Does the higher cost in installment payments compared to lump-sum payments constitute riba in Islam?
FAQ #84: Is it permissible for someone who can afford a lump-sum payment to choose installment payments?
FAQ #85: What is the Islamic ruling on purchasing through installments with a higher net price than cash?
FAQ #86: Is the right to rescind a purchase still applicable if defects are discovered and reported two weeks later?
FAQ #87: Is it permissible to purchase a house through a foreclosure auction, considering the previous owner’s rights?
FAQ #88: Who is liable for damages if a buyer purchases eggs, and some are broken during delivery?
FAQ #89: Is it permissible for an Indonesian seller to sell in Rupiah and a Malaysian buyer to buy in Ringgit?
FAQ #90: Are sale contracts void for a genuinely mentally ill person, and is selling birds in the sky impermissible?
FAQ #91: Is a sale valid with conditions, like waiting for another buyer’s decision, before finalizing the deal?
FAQ #92: Is a transaction valid if the seller quotes S$20, but the buyer insists on buying for S$15?
FAQ #93: Is there a customary order for saying ‘I buy’ or ‘I sell’ first in transactions?
FAQ #94: What is the objective of the Malay tradition of saying ‘I buy’ and the seller responding ‘I sell’?
FAQ #95: Is Dropshipping Halal?
FAQ #148: Is it lawful to patronize a shop that provides financial or in-kind support for unlawful activities against humanity?

Islamic Social Finance

FAQ #96: What is your view on the concept of Waqf Istithmar?
FAQ #97: How do you see waqf as a potential practice for SRI?

Insurance

FAQ #98: Are whole life insurance plans permissible?
FAQ #99: Is there any company in Singapore which offers takaful (islamic insurance)?
FAQ #100: Is investing under Prudential permissible in Islam since they invest mostly in government bodies?
FAQ #101: Are there different zakat rulings for various insurance products, such as whole life and term?
FAQ #102: Is it true that conventional insurance involves uncertainty (gharar) and gambling (maysir) elements?
FAQ #103: What is your view on Malay Muslim groups who sell insurance in Singapore?
FAQ #104: Is this NTUC Insurance policy actually takaful?
FAQ #105: What to do with a non-halal Investment Linked Policy?
FAQ #106: Can I do wakaf with my insurance?
FAQ #107: Why is whole life insurance considered in Singapore due to the absence of takaful? Is this justified?
FAQ #108: Is it permissible to have hospital & accident insurance, considering concerns raised about its permissibility?
FAQ #109: Is there a product known as ‘Islamic insurance, and how does it differ from conventional insurance?
FAQ #110: Is it permissible for financial planners to propose non-shariah-compliant funds to clients with lower risk appetites?
FAQ #111: Is the termination of an insurance policy due to a heart attack halal, and is zakat obligatory?

Cryptocurrency

FAQ #112: Are cryptos classified as an asset or currency?
FAQ #113: What is the ruling on Binance future trading?
FAQ #114: Is using cryptocurrency apps offering guaranteed APY in the chosen currency permissible in Islamic finance?

Investing For Muslims

FAQ #151: Is using a bank loan to start an investment haram?
FAQ #115: How do I go about buying the Maybank Asian Growth & Income Islamic fund?
FAQ #116: Are robo-advisors halal? Like the POSB Robo-advisor/Endowus/Syfe etc
FAQ #117: Some investments only allows for AI, accredited investor. How do you qualify as an AI?
FAQ #118: From legal perspective, can business owners invest their monies on platforms/portfolios not related to the nature of their business ?
FAQ #119: Can we invest through Wahed in Singapore?
FAQ 120: What are the shariah compliant investment funds in ifast?
FAQ #121: Is the Cash+ portfolio in Syfe Wealth halal?
FAQ #122: Are Revolut’s trading features halal?
FAQ #123: Is FTIF Franklin India Fund shariah compliant?
FAQ #124: Are Treasury Bills in Singapore halal?
FAQ #125: Are T-Bills halal to invest in?
FAQ #126: Is webull halal?
FAQ #127: Is the principal amount or the entire investment process through a crowd-investing company in a business insured?
FAQ #128: Is investing in Robo-advisor funds with ESG or Shariah-neutral themes, and “Muslim-friendly” funds permissible in Islam?
FAQ #129: Is it permissible to invest in companies from a country known for harming the general public?

Careers In Islamic Banking & Finance

FAQ #130: What is your view on the concept of Waqf Istithmar?
FAQ #131: Can i have a career in Islamic Banking And Finance without having a degree related to it?

Zakat

FAQ #150: Can Zakat be used for making Qard Hassan (non-interest) loans to poor Muslims for their businesses?
FAQ #147: How to do zakat on halal Sarwa investments?
FAQ #132: When is zakat obligatory for someone’s wealth?
FAQ #133: In a joint account with a parent and child, who is responsible for paying zakat?

Islamic Banking

FAQ #134: What’s the difference between Islamic banking accounts vs conventional banking accounts?
FAQ #135: Why should we support Islamic banks?
FAQ #136: May I know if all CIMB FDs are shariah-compliant? On their website, it is advertised as FD interest rate, rather than hibah rate.
FAQ 137: What’s the difference between CIMB Islamic’s Fastsaver-i and Starsaver-i?
FAQ #138: Is the salary earned while working in a conventional bank considered halal, given its riba-based revenue?
FAQ #139: Is the use of interbank rates (e.g., LIBOR) by Islamic banks permissible in calculating loans?
FAQ #140: What is wadi’ah in Islamic banking, and how does it differ from conventional savings and current accounts?

Estate Planning

FAQ #141: Why is wasiat still important if we want to follow faraid anyway?
FAQ #142: Can one nominate faraid beneficiaries in CPF and ILP while other beneficiaries are alive?
FAQ #149: What’s the Islamic perspective on using Shariah non-compliant tools to amass funds for wakaf, especially when considering conventional insurance plans that pay out upon passing and subsequently nominating those proceeds to wakaf?

Banking Careers

FAQ #143: Is pursuing an MBA relevant for career progression, and is a local or top foreign one better?
FAQ #144: How can an undergraduate plan a finance career while adhering to religious boundaries and ethical considerations?

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Islamic Banking

FAQ #136: May I know if all CIMB FDs are shariah-compliant? On their website, it is advertised as FD interest rate, rather than hibah rate.

Nope, CIMB in SG only has one fixed deposit that is shariah compliant, the Why Wait Fixed Deposit-I account.

https://www.cimb.com.sg/en/personal/banking-with-us/accounts/fixed-deposit/cimb-why-wait-fixed-deposit-i-account.html

FAQ #135: Why should we support Islamic banks?FAQ 137: What’s the difference between CIMB Islamic’s Fastsaver-i and Starsaver-i?

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Home
About
- Meet The Team
Events
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Resources
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FAQ
- Ask Your Question
- Questions Library

Home
About
- Meet The Team
Events
Articles
Resources
RizqX
FAQ
- Ask Your Question
- Questions Library