Cash Line-i (CL-i) is an Islamic Overdraft facility, a financing granted under a current account, whereby the customer is authorized to draw on account up to an approved limit. CL-i will provide customer with flexibility in utilization of its credit facilities whereby it is suitable for financing of working capital requirement and contract financing to cater the customer daily transactions.
- Profit charged is based on the amount utilised only.
- No commitment fee on the unutilised portion of Cash Line-i
- Provide flexibility in utilization of your credit facility
- Competitive pricing and margin of financing
- Globally accepted Shariah concept used
- Business has been in operation for the past 3 consecutive years with similar principal business activities.
- Adequate and acceptable level of paid up capital which indicates a commitment from Customer.
- Growing trend in both revenue and profitability for at least the past 3 consecutive years.
- Positive shareholder’s fund./li>
- No on-going legal action or unresolved litigation records on the business, shareholders and directors.
- Business, shareholders and directors must not have more than 2 MIA per facility (other Financial Institutions) and not more than 1MIA (facility with Bank Rakyat) in CCRIS conduct in the past 12 months.
- Must be a business registered in Malaysia, is Malaysian controlled and Malaysian-owned business (at least 51% shareholding).
up to 5 years (subject to annual review)
Fee & Charges
- Brokerage fee: each transaction is at RM7 for every million purchased in commodities (will be shared equally between the customer and the Bank).
- Legal charges: Including legal charges for financing documentation, registration charges, ground search, search bankruptcy / bankruptcy and other charges related.
- Duty stamp (as per Stamp Duty Act 1949 (revised 1989).
Profit rate (all in rate)
- Cost of Fund (COF) + Spread; OR
- Base Financing Rate (BFR) + Spread
Spread is determined based on credit standing of the Customer during application of facility.
- Copy of Company Profile
- Certified true copy of Form 24, 44 & 49 and Memorandum & Articles of Association/Constitution or a written confirmation duly signed by a director confirming that the Company does not have a Constitution.
- Certified true copy of 3 years' Audited Accounts (not more than 18 months old from the application date) and latest Management / Draft Accounts (not more than 12 months old from the application date).
- Top 3 suppliers and buyers
- Latest debtors and creditors ageing reports
- Existing bankers and banking facilities.
- Latest 6 months' Current Account statements with all banks.
- Projected Profit & Loss Accounts & Cash Flow Projection for 2 years.
- Information on net worth such as reported income, FD receipts, BE Form etc.
- Information on directors / shareholders/ partners net worth.
- Lists of completed projects, projects in-hand (inclusive of project tenure and % of completion) and projects tendered (if applicable)
- Duly completed application form / Letter of Application
- Any other documents required by the Bank