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Statement of Commitment to the FX Global Codes
CIMB Bank Berhad, Singapore Branch (“CIMB Singapore”) has reviewed the content of the FX Global Code (“Code”) and acknowledges that the Code represents a set of principles generally recognised as good practice in the wholesale foreign exchange market (“FX Market”). CIMB Singapore confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities (“Activities”) in a manner consistent with the principles of the Code. To this end, CIMB Singapore has taken appropriate steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX Market, to align its Activities with the principles of the Code.
Please see the disclosure statement of our Foreign Exchange business practices here.
CIMB Bank Berhad, Singapore Branch
Date: 24 Aug 2020
Forward Contracts
Hedge your foreign exchange exposures with Forward Contracts ranging up till 10 years (subject to necessary credit approvals). With these agreements you can exchange a specified amount of one currency for another at a future date at a predetermined rate. You can also enter into Callable Forwards which grants you the flexibility to use the agreed rate anytime within the contracted period.
Option Contracts
Get customised Option Structures according to your specific business requirement and fund flows. By entering into option structures, you can hedge your currency exposure and/or get better Foreign Exchange Rates for your requirements. Depending on the option structure, it can be zero-cost or there may be a premium charged. Some of our more popular option structures include:
Vanilla Call and Put Options
Accumulator
Target Redemption Forward
Cancellable Forward
Calendar Forward
Range Forward
Enhanced Forward
Dual Currency Investment
We offer hedging tools to assist in managing your Forex exposures, helping to minimise the risks of currency fluctuations and volatility.
Foreign Exchange Conversion
Enjoy competitive Foreign Exchange Rates for your currency needs, including for overseas remittances via Telegraphic Transfers and Demand Drafts. We provide access to all the major Foreign Currencies and Asian Currencies.
Islamic Foreign Exchange Spot
FX transaction under Bai' al-Sarf, arrangement for settlement of foreign currency on the same day.
Islamic Foreign Exchange Swap
FX transaction under Bai' al-Sarf and Wa'ad , arrangement for settlement of one currency for another with two different value dates.
Islamic Profit Rate Swap
An agreement that allows you to swap your profit rate obligation of the same currency from fixed to floating and vice-versa.
Manage fixed or floating rate exposure in your assets and liabilities with our profit rate options.
Cross Currency Profit Rate Swap
Similar to a Profit Rate Swap, except that this involves the exchange of principal and profit in one currency for the principal and profit in another currency.
Islamic Fixed Deposits
Our Islamic Fixed Deposits come with attractive rates for SGD and USD currencies. We are able to quote a wide range of tenures to cater to your liquidity or investment requirements (up to 5 years for selected currencies).
Generate better returns on your SGD and foreign currency funds with our deposit products.
What’s more? With BizChannel@CIMB, you can transact at highly competitive Live FX rates online for 16 currencies (including MYR, IDR and THB) - anytime, anywhere. BizChannel@CIMB is supported on both Desktop and Mobile so download it today.
