Foreign Currency Offshore Property Financing-i

Shariah compliant

• Based on the principle of Murabahah (cost plus profit)

Declaration Requirement

• You are only required to declare to Bank Negara Malaysia (BNM) when your foreign currency financing exceeds RM10,000,000 or equivalent.

No limit for purchase of overseas property

• Up to 70% margin of financing for a 3rd housing financing purchased locally, as per BNM guidelines.

Foreign Currency Exchange Risk Exposure

• Minimize foreign currency exposure via deposits in a Foreign Currency Account.

Save profit when you pay more

• Extra funds paid into the financing account will automatically reduce the principal and save your profits.

No early settlement charges / exit penalty

• No extra charges when you settle the financing early.

Protection of ceiling rate upon the fluctuation of Islamic cost of fund (ICOF)

• Protect your exposure with the maximum claim by the Bank upon fluctuation of ICOF.

No Withholding Tax Incurrence

• Remittance is not required since both customer and the financing account resides in Malaysia.

• Higher margin of financing of up to 80%
• Additional capitalization of valuation and legal fees into financing amount
• Longer tenure of up to 30 years
• Non - compounding of profit rate and charges
• Enjoy rebates for early settlement
• No limitations on type of properties to be owned
• No minimum entry level for purchase by non-residents.
• No restrictions on re-sale of foreign owned properties to locals/non-residents.

• Financing purchase of residential and commercial properties
• Refinancing of existing mortgage from financial institutions in United Kingdom or other Malaysian banks.
• Completed and off-plan properties
• Located in Prime Areas in Zones 1-3 and selected Zones 4 of London, England.
• For investment or "buy-to-let" purpose only