• Letter of Credit-i
• Trust Receipt-i
• Shipping Guarantee-i
• Accepted Bills-i
• Bills of Exchange Negotiated/Purchase-i
• Export Credit Refinancing-i Pre-shipment & Post-shipment
• Bank Guarantee-i
• Murabahah Working Capital Financing-i

• Timely delivery of merchandise
• Worldwide and efficient payment arrangement
• Protection for non-delivery risk

Letter of Credit-i (LC-i) is a written undertaking by the Bank, given to a seller (the beneficiary) at the request and on the instructions of the buyer (the applicant), to pay at sight or at a determinable future date up to a stated sum of money within a prescribed time limit and against stipulated documents which must comply with terms and conditions.

• You inform the Bank of your LC-i requirements and request the Bank to provide the facility
• The Bank may require you to place a deposit to the full amount of the price of the goods to be purchased/imported which the Bank accepts under the principle of Wadiah Yad Dhamanah
• The Bank establishes the LC-i and pays the proceeds to the Negotiating Bank utilising your deposit, when compliant documents are presented
• The Bank charges you fees and commission for its services under the principle of Ujr (Commission & Fees)

Facilitates a convenient cashflow management of your business by financing your goods purchases and ensures immediate take up of goods on the arrival with payment being settled at later date.

Trust Receipt-i (TR-i) is a document signed by the purchaser/importer ('Customer') on the strength of which the Bank releases the shipping documents to the purchaser/importer who undertakes to take delivery, store, hold and deliver to his buyers the said merchandise and receive proceeds of the sales as Trustee(s) for the Bank.

The Bank thus retains the legal title to the shipping document/merchandise but relinquishes physical possession of the goods to the purchaser/importer who acts as an Agent of the Bank, disposes of them profitably and pays the Bank the agreed selling price on or before the agreed due date.

The Bank, having made payment to the Negotiating/Remitting Bank, sells the merchandise to the purchaser/importer at a sale price comprising its cost and profit margin under Murabahah contract. The transaction is secured by the merchandise, as deemed necessary by the Bank.

Therefore, as an importer you are able to take delivery of merchandise almost immediately, on arrival while payment is paid in lump-sum at a later date.

Enables you to take delivery of your merchandise at the port without the presentation of the Original Bill of Lading and saves you from storage charges levied by the Port Authority due to late arrival of shipping documents.

Shipping Guarantee-i (SG-i) is a facility granted by the Bank to importers for the clearance of goods purchased under the Letter of Credit-i (LC-i) at the port, without the original Bill of Lading (BL) being presented. The Bank will issue Shipping Guarantee-i (SG-i) in favour of the Shipping Company/Agent to enable you (the importer), consignee or buyer to take delivery of the merchandise.

SG-i is not a financing but merely an indemnity.

Accepted Bills-i (AB-i) is a Bill of Exchange which is drawn and guaranteed by the Bank and accepted by the purchaser/importer (domestic purchases/imports) OR drawn by the seller/exporter on and accepted by the Bank (domestic sales/exports). The former is traditionally known as a Purchase AB-i, whereas the latter is the Sale AB-i.

The concepts applied are Murabahah (cost plus profit) for the Purchase AB-i and Bai Dayn (debt trading) is applied to the Sale AB-i. In this case, Murabahah refers to the selling of merchandise at a price based on cost plus profit margin agreed to by both parties. Bai Dayn refers to the sale of a debt arising from a trade transaction in the form of a deferred payment sale.

This is a facility granted by the Bank to you whereby the Bank negotiates your foreign bills drawn under a foreign Letter of Credit favouring yourself. The Bank will only purchase the documents presented that are in compliance with the terms and conditions of the Letter of Credit. The transaction will fall under the Bai Dayn (debt trading) principle whereby the Bank will buy your debt.

This is a credit facility extended to exporters and local suppliers for export of manufactured products, approved agricultural products and selected primary commodities that are halal, have significant value added and utilise local indigenous resources.

• Pre-shipment ECR-i facility: financing before exportation of goods. It is available to finance working capital requirement for production of merchandise upon receiving export orders for the goods. The Islamic financial mechanisms applicable to the ECR-i pre-shipment are Murabahah (cost plus) and Bai Dayn (debt trading)
• Post-shipment ECR-i facility: financing after the shipment of the goods on credit or usance terms. The facility will give immediate funds after the goods have been shipped out on credit basis. Hence, this will release your tied-up cashflow. The Islamic principal applicable to the post-shipment ECR-i is Bai Dayn (debt trading).

Bank Guarantee-i (BG-i) is an undertaking by the Bank to pay the beneficiary the amount specified in the guarantee of your performance or financial standing that may be needed in your business dealing in the event of non-performance of a permissible contract.

• Tender Guarantee
• Performance Guarantee
• Guarantee for Advance Payment
• Supply Guarantee
• Guarantee for Sub-Contract
• Guarantee for Exemption of Custom Duties
• Custom Bond

This facility, based on the Bai Murabahah concept, is granted to you for financing your short-term working capital requirement by way of lump sum deferred payment cost plus profit. You only pay for the cost of items purchased upon realisation of the sales proceeds.

• Purchase of stock or raw materials
• Usance sales