Common use of ISLAMIC ACCOUNTS Clause in Contracts

ISLAMIC ACCOUNTS. (a) In the event of a customer who due to its observance of Islamic religious beliefs cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer hereby confirms and/or accepts and/or declares that a request to render their account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept the request of a customer to designate their account as an Islamic Account, at its sole and absolute discretion which shall be conclusive and undisputable by the Customer. (b) In the event that the Company suspects that a Customer is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: (i) The Company may add commission upon each and every one of the Transactions executed on the Islamic Account; and/or (ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or (iii) The Company may restrict and/or prohibit the Customer from hedging their positions; and/or (iv) The Company may, at its sole discretion, close any open positions and reinstate them at the then real market price. The Customer hereby acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost of the change of the spread.

ISLAMIC ACCOUNTS. (a) 8.4.1. In the event of a customer who who, due to its observance of Islamic religious beliefs beliefs, cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their his/her trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer customer hereby confirms and/or accepts and/or declares that a request to render their his/her account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept accepting the request of a customer to designate their his/her account as an Islamic Account, at upon its sole and absolute discretion which shall be conclusive and undisputable by upon the Customercustomer. (b) 8.4.2. In the event that the Company suspects that a Customer customer is abusing the rights conferred to them him/her by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: (i) The Company may add commission upon each and every one of the Transactions trades executed on the Islamic Account; and/or (ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or (iii) The Company may restrict and/or prohibit the Customer customer from hedging their his/her positions; and/or (iv) The Company may, at upon its sole discretion, close any open positions and reinstate them at upon the then real market price. The Customer hereby customer hereby, acknowledges that they he/she shall bear all costs derived from the aforementioned action, including but not limited to, the cost of on the change of the spread.

ISLAMIC ACCOUNTS. (a) In the event of a customer who due to its observance of Islamic religious beliefs cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer hereby confirms and/or accepts and/or declares that a request to render their account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept the request of a customer to designate their account as an Islamic Account, at its sole and absolute discretion which shall be conclusive and undisputable by the Customer. (b) In the event that the Company suspects that a Customer is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: (i) The Company may add commission upon each and every one of the Transactions transactions executed on the Islamic Account; and/or (ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or (iii) The Company may restrict and/or prohibit the Customer from hedging their positions; and/or (iv) The Company may, at its sole discretion, close any open positions and reinstate them at the then real market price. The Customer hereby acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost of the change of the spread.

ISLAMIC ACCOUNTS. (a) 8.3.1. In the event of a customer who who, due to its observance of Islamic religious beliefs beliefs, cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their his/her trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer customer hereby confirms and/or accepts and/or declares that a request to render their his/her account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept accepting the request of a customer to designate their his/her account as an Islamic Account, at upon its sole and absolute discretion which shall be conclusive and undisputable by upon the Customercustomer. (b) 8.3.2. In the event that the Company suspects that a Customer customer is abusing the rights conferred to them him/her by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: (i) The Company may add commission upon each and every one of the Transactions trades executed on the Islamic Account; and/or (ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or (iii) The Company may restrict and/or prohibit the Customer customer from hedging their his/her positions; and/or (iv) The Company may, at upon its sole discretion, close any open positions and reinstate them at upon the then real market price. The Customer hereby customer hereby, acknowledges that they he/she shall bear all costs derived from the aforementioned action, including but not limited to, the cost of on the change of the spread.

ISLAMIC ACCOUNTS. (a) 8.4.1. In the event of a customer who due to its observance of Islamic religious beliefs cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their his/her trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer customer hereby confirms and/or accepts and/or declares that a request to render their his/her account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept accepting the request of a customer to designate their his/her account as an Islamic Account, at upon its sole and absolute discretion which shall be conclusive and undisputable by upon the Customercustomer. (b) 8.4.2. In the event that the Company suspects that a Customer customer is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: (i) The Company may add commission upon each and every one of the Transactions trades executed on the Islamic Account; and/or (ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or (iii) The Company may restrict and/or prohibit the Customer customer from hedging their his/her positions; and/or (iv) The Company may, at upon its sole discretion, close any open positions and reinstate them at upon the then real market price. The Customer hereby customer hereby, acknowledges that they he/she shall bear all costs derived from the aforementioned action, including but not limited to, the cost of on the change of the spread.