FAQ Q&A

Frequently Asked Questions

Frequently Asked Questions

Islamic Stockbroking

General

What is Islamic Stockbroking by Kenanga?
It is an alternative solution for clients to buy and sell listed Shariah-compliant securities.
What are the types of products available under Islamic Stockbroking by Kenanga?
We have both, Islamic Trading and Islamic Margin Financing products. You may refer to each section.
Who can apply?
Anyone above 18 years old.
Where do I get the list of Shariah-compliance securities listed in Bursa Malaysia Securities Berhad?
You may view it on the Securities Commission website (www.sc.com.my).
Is there a possibility of Shariah-compliant securities becoming Shariah non-compliant?
Yes, the SAC and SC will review the list of Shariah-compliant securities twice a year (May and November). Change of status could happen after the revision of the list.
If I have existing conventional trading/margin account, can I apply and open an Islamic account?
Yes, you may apply for an Islamic trading/margin account.
Do I need to close my existing conventional trading/margin account once my Islamic account is opened?
No, you are not required to close your existing conventional trading/margin account.
What are the fees and charges that I have to pay?
Type of Fee Fee and Charges
Brokerage As per the Rules of Bursa Malaysia Rule
Clearing Fee For on market transaction, 0.03% of transaction value (payable by both buyer and seller) with a maximum of RM 1,000 per contract.
Stamp Duty RM 1.00 per every RM 1,000 (or fractional part) of the transaction value of securities (payable by both buyer and seller). Stamp duty shall be remitted to the maximum of RM 200.
CDS Account Opening RM 10.00 (subject to GST) as charged by Bursa Malaysia Depository Sdn. Bhd. for account opening
CDS Share Transfer Fee RM 10 (subject to GST) per counter
CDS Reactivation Fee RM 5 (subject to GST) per counter
Additional fee for Islamic Margin Financing products :
Commodity Trading Fee RM 15 for every RM 1,000,000 (or part thereof) commodities traded (subject to GST)