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 FNory, 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 FNory reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’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 FNory as interest), cancellation of transactions, and adjustment of account balances.
Appears in 2 contracts
Samples: Customer Agreement, Customer Agreement
ISLAMIC ACCOUNTS. 25.1 28.1 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 FNoryTradeska, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
25.2 28.2 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 FNory 28.3 Tradeska reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’s Tradeska‟s absolute discretion due to abuse of this benefit.
25.4 28.4 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 FNory Tradeska 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 FNory, 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 theeventthat Customerdesignatesitsaccountas an Islamic accountIslamicaccount, Customer may not keep Customermaynotkeep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
25.3 FNory reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’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 FNory 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 FNoryTample, 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 FNory 26.3. Tample reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’s Tample'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 FNory Tample 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 FNoryInfinex, 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 FNory 26.3. Infinex reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’s Infinex'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 FNory Infinex 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 FNoryTradeska, 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 FNory Tradeska reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNoryTradeska’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 FNory Tradeska 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 CustomerIf, due to because of its observance of Islamic religious beliefs beliefs, Customer cannot receive incur or pay interest, Customer may elect choose to designateassign, in by the manner provided means offered by FNoryInvestusPro , its trading account to be an Islamic Account, which is not entitled to, or charged with, or entitled to, overnight interest and/or rollovers.
25.2 In the event that Customer designates its If Customer’s account is assigned as an Islamic accountAccount, Customer may not keep hold open transactions in such account open for more than over 5 days and may not otherwise abuse alternatively exploit such benefit.
25.3 FNory InvestusPro reserves the right to cancel abolish the aforesaid benefit at any time and take any action necessary steps in FNory’s InvestusPro's absolute discretion discretion, due benefit. to abuse of this benefit.exploiting this
25.4 Such actions steps may include, without limitationbut are not limited to, the designation reassignment of the Islamic Account as a regular account and retroactively effecting making required adjustments retroactively (e.g., setting off e.g. resetting amounts from in the account equal to amounts paid as interest by FNory as interest)InvestusPro) , adjustment o f account balances and cancellation of transactions, and adjustment of account balances.
Appears in 1 contract
Samples: Customer Agreement