Common use of ISLAMIC ACCOUNTS Clause in Contracts

ISLAMIC ACCOUNTS. 35.1. In the event that a Client, due to his observance of Islamic religious beliefs cannot receive or pay interest, the Client may elect to designate, in the manner provided by the Company, its Client Account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 35.2. The Client 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 accepting the request of a Client to designate their account as an Islamic Account, upon its sole and absolute discretion which shall be final and not subject to dispute by the Client. 35.3. In the event that the Client designates his account as an Islamic account, the Client may not keep transactions in such account open for more than 14 days and may not otherwise abuse such benefit. 35.4. The Company may add commission upon each one of the trades executed on the Islamic Account and/or reserves the right to cancel the aforesaid benefit at any time and take any action necessary in the Company’s absolute discretion due to abuse of this benefit. 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 the Company as interest), restrict and/or prohibit the Client from hedging their positions, cancellation of transactions, and adjustment of account balances.

ISLAMIC ACCOUNTS. 35.1. In the event that a Client, due to his observance of Islamic religious beliefs cannot receive or pay interest, the Client may elect to designate, in the manner provided by the Company, its Client Account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 35.2. The Client 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 accepting the request of a Client to designate their account as an Islamic Account, upon its sole and absolute discretion which shall be final and not subject to dispute by the Client. 35.3. In the event that the Client designates his account as an Islamic account, the Client may not keep transactions in such account open for more than 14 days and may not otherwise abuse such benefitsuchbenefit. 35.4. The Company may add commission upon each one of the trades executed on the Islamic Account and/or reserves the right to cancel the aforesaid benefit at any time and take any action necessary in the Company’s absolute discretion due to abuse of this benefit. 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 the Company as interest), restrict and/or prohibit the Client from hedging their positions, cancellation of transactions, and adjustment of account balances.

ISLAMIC ACCOUNTS. 35.132.1. In the event that a Client, due to his observance of Islamic religious beliefs cannot receive or pay interest, the Client may elect to designate, in the manner provided by the Company, its Client Account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers. 35.232.2. The Client 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 accepting the request of a Client to designate their account as an Islamic Account, upon its sole and absolute discretion which shall be final and not subject to dispute by the Client. 35.332.3. In the event that the Client designates his account as an Islamic account, the Client may not keep transactions in such account open for more than 14 days and may not otherwise abuse such benefit. 35.432.4. The Company may add commission upon each one of the trades executed on the Islamic Account and/or reserves the right to cancel the aforesaid benefit at any time and take any action necessary in the Company’s absolute discretion due to abuse of this benefit. 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 the Company as interest), restrict and/or prohibit the Client from hedging their positions, cancellation of transactions, and adjustment of account balances.