The bank will negotiate/purchase the sales/export documents drawn under Letter of Credit (LC). Customer’s account will be credited with the sales/export proceeds if documents submitted comply with the terms and conditions of the LC. It is issued under the Shariah contract of Bai Al Dayn.
- Ability to obtain immediate funds upon presentation of necessary documents
- As a means of financing for working capital requirements
- Margin of financing can be up to 100% of invoice value/bill amount
- Compliance checking of documents is handled by experts
Types of BEP-i
- Domestic Bills of Exchange Purchased-i/AP (DBEP-i/AP)
Purchase of Trade Bills drawn under LC denominated in Ringgit Malaysia (RM)
- Foreign Bills of Exchange Purchased–i/AP (FBEP-i/AP)
Purchase of Trade Bills drawn under LC denominated in foreign currency
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