Eligible existing and new commercial and corporate customers, local and foreign
FINANCING
Short Term Revolving Credit-i
Shariah-compliant Short Term Revolving Credit facility offered under the Islamic contract of Murabahah (cost plus profit sale)
Shariah Contract
The Shariah contract applied for STRC-i is Murabahah (cost plus profit sale) via Commodity Murabahah/Tawarruq arrangement. It is a method of sale with a mark-up price whereby the Customer makes payment over an agreed period of time. The underlying asset for the sale transaction between the Customer and the Bank will be a specific tradable Shariah-compliant commodity.
Tenure
Maximum financing period of 5 years and is renewable subject to Bank’s review and approval. Effective Profit Rate will be subject to periodical review.