A Shariah compliant trade financing that allows you to finance the purchase and sale of trade-related goods, services and intangibles.
- Imagine you’re providing shipping services ancillary logistics and engineering services, you are about to transport few cargoes to China but lack of cash required to purchase the marine gas oil to operate the ships.
- You may approach our bank to get this financing so the bank would first pay on your behalf.
- With this facility, you may continue business operation without coming up with a huge amount of money upfront.
- Imagine you’re a BMW car dealer, you are about to import 20 units of BMW cars from Germany but you are lacking the cash required to make the purchase.
- You may approach our bank to get this financing on your purchase invoice.
- With this facility, you may start selling the imported goods without coming up with a huge amount of money upfront.
- IF-i is a short term financing based on Shariah contract of Murabahah (cost plus profit sale) via Tawarruq (purchase of commodity on deferred payment).
- To finance purchases/imports and sales/exports of trade-related goods and services in Ringgit Malaysia.
- Maximum tenor of 180 days.
- Flexibility for partial payment or early settlement
- Scope of financing:
- Pre-shipment financing
- Purchase or import of goods
- Sales or export of goods
- Services and intangibles
- Partial payment and early settlement are allowed. Rebate (ibra’) will be granted to customer when there is partial payment/early settlement. No charges for early settlement.