Term Financing-i is a financing package with fixed profit rates designed for companies and co-operatives. It is based on Islamic concept of Bai' Al-Inah (buy and sell back agreement), Al'-Istina (where payments are made in stages to facilitate progress of the manufacturing or construction of the subject of sale) and Al-Bai' Bithaman Ajil (where the bank provides financing to customers to own property by purchasing the asset/service with cash and sell back the property/service to the customer at cost price plus profit).
Eligibility : All business entities such as private limited companies and co-operatives.
Concept : Tawarruq
Purpose : Working capital for business expansion involving companies from various sectors including agriculture, credit consumer, property, manufacturing, infrastructure, retail, communication, oil and gas, etc.
Margin : Up to 80% of working capital requirement
Tenure : Maximum 10 years.
Additional Documents Required
- Detail information on purpose of financing.
- A valuation report of property to be charged as security if applicable.
- Cash flow and project profit & loss projection.