Common use of ISLAMIC ACCOUNTS Clause in Contracts

ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by Bexchanges, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s absolute discretion due to abuse of this benefit. 25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

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ISLAMIC ACCOUNTS. 25.1 26.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesAceFxPro, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 26.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 30 days and may not otherwise abuse such benefit. 25.3 Bexchanges 26.3 AceFxPro reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s AceFxPro's absolute discretion due to abuse of this benefit. 25.4 26.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges AceFxPro as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Client Agreement

ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by Bexchanges24HMarkets, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges 24HMarkets reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges24HMarkets’s absolute discretion due to abuse of this benefit. 25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges 24HMarkets as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

ISLAMIC ACCOUNTS. 25.1 26.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesThe Street Fx, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 26.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 30 days and may not otherwise abuse such benefit. 25.3 Bexchanges reserves the 26.3 The Street Fx reservesthe right to cancel the cancelthe aforesaid benefit at any time and take any action necessary in Bexchanges’s The Street Fx's absolute discretion due to abuse of this benefit. 25.4 26.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges The Street Fx as interest), cancellation of transactions, and adjustment of account balances.. GENERAL TERMS & CONDITIONS

Appears in 1 contract

Samples: Client Agreement

ISLAMIC ACCOUNTS. 25.1 26.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by Bexchangesi360fx, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 26.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 30 days and may not otherwise abuse such benefit. 25.3 Bexchanges 26.3 i360fx reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s necessaryin i360fx's absolute discretion due to abuse of this benefit. 25.4 26.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges i360fx as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Client Agreement

ISLAMIC ACCOUNTS. 25.1 In the event that eventthat Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesEXPremier, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account suchaccount open for more than 5 days and may not otherwise abuse such abusesuch benefit. 25.3 Bexchanges EXPremier reserves the right to cancel the aforesaid benefit at any time and take any action necessary in BexchangesEXPremier’s absolute discretion due to abuse of this benefit. 25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges EXPremier as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

ISLAMIC ACCOUNTS. 25.1 26.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesLeadsValue, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 26.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges 26.3 LeadsValue reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s LeadsValue's absolute discretion due to abuse of this benefit. 25.4 26.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges LeadsValue as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

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ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesMMA FOREX, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges MMA FOREX reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s MMA FOREX's absolute discretion due to abuse of this benefit. 25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges MMA FOREX as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

ISLAMIC ACCOUNTS. 25.1 24.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesVeracity Markets, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 24.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges 24.3 Veracity Markets reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s Veracity Markets' absolute discretion due to abuse of this benefit. 25.4 24.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges Veracity Markets as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by BexchangesFriedberg Direct, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit. 25.3 Bexchanges Friedberg Direct reserves the right to cancel the aforesaid benefit at any time and take any action necessary in Bexchanges’s Friedberg Direct's absolute discretion due to abuse of this benefit. 25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by Bexchanges Friedberg Direct as interest), cancellation of transactions, and adjustment of account balances.

Appears in 1 contract

Samples: Customer Agreement

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