Perniagaan

Islamic Trade Finance / Islamic Trade Finance
Trade Finance offers a range of services and financing to Customers to facilitate their local and international business transactions.

List of products:

Letter of Credit-i

LC-i is a written undertaking by a bank, given to the exporter/seller (the beneficiary) at the request and on the instruction of the importer/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 the terms and conditions of the LC-i.

Eligibility: all business entity that has import and/or export transactions.

Purpose: An instrument issued by the Bank to facilitate imports and purchases of goods and services.

Fees & Charges:

Type of fee/charges Rate/Cost
Issuance 0.1% per month or part thereof (min RM50) or as per Letter of Offer
Amendment

Increase in value and/or extension of expiry date: 0.1% per month or part thereof (min RM50) or as per Letter of Offer

Others: RM50 flat

Usance/Acceptance 0.1% per month or part thereof from LC expiry date to usance expiry date (min RM50) or as per Letter of Offer
Cancellation (prior to LC expiry date) RM50
SWIFT

Issuance: Local RM50 Foreign RM75

Others: RM25

RENTAS RM5
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Letter of Credit-i.pdf

Shipping Guarantee-i

SG-i is a facility granted by the Bank to importers for the clearance of goods (purchased under our Letter of Credit-i) at the port, without the presentation of original Bill of Lading. The Bank issue a Shipping Guarantee-i in favour of the Shipping Company/Agent to enable the customer/consignee to take delivery of the merchandise in absence of the original Bill of Lading.

Eligibility: all business entity that has import and/or export transactions.

Purpose: An indemnity counter-signed by the Bank as interim to the original Bill of Lading

Fees & Charges:

Type of fee/charges Rate/Cost
Issuance 0.1% on invoice amount (min RM50)
Non-returned SG-i After 3 months from date of issuance: 0.5% p.a. will be charged and subsequently 3 months thereafter until the return of the SG-i (min RM50)
Endorsement of Bill of Lading and Airway Bill 0.1% on invoice amount
Stamp duty Actual cost
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Shipping Guarantee-i.pdf

Inward Bills Collection-i

IBC-i is the handling of inward documents (domestic and foreign) received from a Remitting Bank or directly from seller for presentation to buyers for payment at sight or acceptance of usance Bills of Exchange for payment at a future date.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A service by the Bank to handle import documents issued by the Seller or the Seller's Bank

Fees & Charges:

Type of fee/charges Rate/Cost
Commission / Amendment 0.1% of invoice amount (Min RM50, Max Local: RM500 Foreign: RM100)
Release free of payment RM120
Redirect to another bank RM120
Protest bill Actual cost
SWIFT RM25
RENTAS RM5
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Inward Bills Collection-i.pdf

Murabahah Working Capital Financing

MWCF is to finance purchases of goods, raw materials etc as required by the Customer for its business operations. Murabahah is a contract between the Customer and the Bank where the Bank will sell on credit terms certain required goods to the buyer at an agreed selling price that comprises the Bank's purchase price and profit margin. The Bank will pay the price of goods directly to the supplier (where the customer obtains the goods from) and the goods will be delivered to the buyer. The customer then settles the amount due (selling price) to the bank on lump sum basis at a later date that is predetermined.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A short term financing to finance purchases made by the Customer

Fees & Charges:

Type of fee/charges Rate/Cost
RENTAS RM5
IBG (over the counter) RM2
SWIFT RM25
Stamp duty Actual cost
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Murabahah Working Capital Financing.pdf

Export Letter of Credit Advising-i

ELC-i is an advisory service provided by the Bank to the Customer/exporter, acting as a Wakil/Agent to handle their Letter of Credit-i documents received from their buyers' Issuing Bank.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A service by the Bank to authenticate and advise the Letter of Credit

Fees & Charges:

Type of fee/charges Rate/Cost
Advising RM50
Amendment RM50
Transferable 0.15% - 2% on documentary credit transferred amount
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Export Letter of Credit Advising-i.pdf

Letter of Credit Confirmation –i

ELCC-i is a service offered by the Bank when the Customer seeks to get a second guarantee to assure payment of the issuing bank. The Bank shall then add confirmation to the LC upon the issuing bank's authorization or request.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A service by the Bank to add confirmation to Letter of Credit at customer's request

Fees & Charges:

Type of fee/charges Rate/Cost
Confirmation Rate to be determined by the Bank's Correspondence Banking based on bank and country risk
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Letter of Credit of Credit Confirmation-i.pdf

Outward Bills Collection-i

OBC-i is a service provided by the Bank on the instruction of the Customer to forward documents related to its export of goods to the buyer's bank with a request to present the documents to the buyer for payment, indicating when and on what conditions the documents can be released to the buyer.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A service by the Bank to forward export documents to Buyer's Bank

Fees & Charges:

Type of fee/charges Rate/Cost
Commission 0.1% of invoice amount (Min RM50, Max Local: RM500 Foreign: RM100)
Instruction amendment RM50
Document checking (against LC) RM50
Returned documents RM120
Non-payment/Non-acceptance RM120
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Outward Bills Collection-i.pdf

Outward Bills Financing-i

OBF-i is to finance the Customer's need under export activities, particularly for documents under Outward Bills Collection-i. Financing is based on Tawarruq.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A short term financing to finance sales made by the Customer

Fees & Charges:

Type of fee/charges Rate/Cost
RENTAS RM5
IBG (over the counter) RM2
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Outward Bills Financing-i.pdf

Credit Bills Financing-i

CBF-i is to finance export transaction for a complying presentation under an export LC. The bank financing under Tawarruq is to provide funds to the beneficiary on or before the banking day on which reimbursement is due to the nominated bank.

Eligibility: all business entity that has import and/or export transactions.

Purpose: A short term financing to finance sales made by the Customer (for Letter of Credit)

Fees & Charges:

Type of fee/charges Rate/Cost
RENTAS RM5
IBG (over the counter) RM2
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Credit Bills Financing-i.pdf

Tawarruq Trade Financing

TTF is to finance customer's local sales and intangible goods or services. For Trade Tawarruq, the bank earns profit over Murabahah financing

Eligibility: all business entity that has import and/or export transactions.

Purpose: A short term financing to finance purchases and sales of goods or services

Fees & Charges:

Type of fee/charges Rate/Cost
RENTAS RM5
IBG (over the counter) RM2
SWIFT RM25
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Tawarruq Trade Financing.pdf

Bank Guarantee-i

BG-i is an undertaking by the Bank to pay an agreed sum to a Beneficiary in the event that the Customer fails to honour the obligations in accordance with the terms and conditions of the Guarantee/Agreement/ Contract.

Eligibility: all business entity that has import and/or export transactions.

Purpose: An instrument issued by the Bank to provide guarantee to a third party on behalf of the Customer

Fees & Charges:

Type of fee/charges Rate/Cost
Issuance As per Letter of Offer, 0.05% per month or min RM50 (whichever is higher)
Amendment

As per Letter of Offer, 0.05% per month or min RM50 (whichever is higher)

Others: RM50

SWIFT

Issuance: Local RM50 Foreign RM75

Others: RM25

Stamp duty Actual cost
General expenses (Courier) Actual cost

Note: The fees and charges are not inclusive of 6% GST

PDS: Bank Guarantee-i.pdf