Foreign Exchange

  • COMPREHENSIVE SOLUTIONS
  • SPOT TRANSACTIONS
  • PROMISE TRANSACTIONS - OUTRIGHT

With a strong team of FX specialists, ICB offers it's clients efficent and seamless access to FX markets. Our team is always there to assist clients in providing market updates as well as to execute transactions as per clients needs in accordance with the principles of Sharia.

ICB offers a comprehensive set of solutions for clients seeking assistance on their FX needs. Our offering encompasses all the major G10 currencies as well as exchange and payment facilities in various developed and emerging market currencies. Tenor wise also we have a comprehensive set of Spot, Outright Promise, Opional Promise and Swap facilities which we offer in various currencies in accordance with the principles of Sharia. We also offer the flexibility of orders where clients can let us know the level where they would like to transact and we execute their orders if and when that level is traded in the market.

Promise transactions allow customers to fix exchange rates for specific future dated foreign currency transactions in accordance with the principles of Sharia. This eliminates the uncertainty of future currency fluctuations and allows customers to plan ahead with the knowledge of exact rates/cost of payment as at future dates

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The bank follows Shari’ah Law which seeks a “just” and “equitable” distribution of resources.