It is a trade facility to finance domestic purchase or import based on documents drawn under Letter of Credit-i (LC-i) and Inward Bills for Collection-i (IBC-i). It is offered under the Shariah contract of Murabahah.

Maximum tenor:

Up to 180 days, determined based on the turnover period of goods
Margin of advance: Up to 100% of the bill amount plus other payments e.g. freight / carrier charges and import duties

Features

• A mode of financing for goods purchased under LC-i or IBC-i only
• Financing is available for other separate payments such as freight/carrier charges and import duties
• Early or partial settlement is allowed
• No minimum amount or tenor of financing: financing can be on invoice value for any number of days required, subject to your facility tenor/limit
• You must have a facility with the bank

Benefits

• Settle your payment obligations to the seller promptly and maintain a good standing
• Take possession of the goods immediately without having to pay until the end of the financing period
• Sell the goods or turn them into finished products for sale or export without further delay
• Improve your company's cash flow
• Make partial payments as and when you have the funds
• Transaction based on ‘halal’ goods
• Financing rate is fixed throughout the tenor