South Africa
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Shari’ah Forward Exchange Contracts (FEC)

Shari’ah-compliant Forward Exchange Contracts (FEC)

The first Shari’ah-compliant FEC in South Africa to be contracted under the ISDA (International Swaps and Derivatives Association) Tahawwut Framework. This product allows you to hedge out your real foreign exchange (FX) risks in a Shari’ah-compliant manner.

Some of the Benefits

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Contract options

The product is available with fixed, partially or fully optional contracts
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Award-winning platform

The Shari’ah FEC is available through our award-winning eMarket trader platform
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Currencies

All major currencies are available
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Real-time

Trade in real-time by integrating into our Business Online platform
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Contract options

The product is available with fixed, partially or fully optional contracts
icon-trophy Created with Sketch.
shield-background Created with Sketch.

Award-winning platform

The Shari’ah FEC is available through our award-winning eMarket trader platform
icon-money-stack Created with Sketch.
shield-background Created with Sketch.

Currencies

All major currencies are available
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shield-background Created with Sketch.

Real-time

Trade in real-time by integrating into our Business Online platform
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Key features

The main differences between a conventional ISDA and the Tahawwut ISDA can be summarised as follows:

  • A conventional ISDA can be utilised for speculative purposes. The Tahawwut ISDA contains a clause where the counter parties to the agreement acknowledge that this agreement will not be utilised for speculative purposes.
  • In a Shari’ah FEC, the actual purchase and sale of the FX takes place at the maturity date. On the booking date, it is only a promise to enter into a purchase agreement on the maturity date.
How to get it
  • Key features
  • How to get it

The main differences between a conventional ISDA and the Tahawwut ISDA can be summarised as follows:

  • A conventional ISDA can be utilised for speculative purposes. The Tahawwut ISDA contains a clause where the counter parties to the agreement acknowledge that this agreement will not be utilised for speculative purposes.
  • In a Shari’ah FEC, the actual purchase and sale of the FX takes place at the maturity date. On the booking date, it is only a promise to enter into a purchase agreement on the maturity date.
Shari'ah Banking certificates
We also offer
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Shari'ah Savings and Investments

Bank according to Islamic economic principles with Standard Bank’s Shari’ ah compliant banking options.

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