Business Banking

Business Financing-i / Bridging-i

Bank Rakyat's Bridging Financing-i allows customers to purchase land for development based on Shariah principal. The package offers customers up to 50% financing of land cost, thus allowing companies to utilize their available funds for other purposes.

Bridging Financing-i is based on Bai' Al-Istisna which is similar to Murabahah except the subject matter of sale is to be constructed or manufactured, and payments are made in stages to facilitate the progress.

Eligibility : All business entities such as private limited companies and co-operatives.

Concept : Tawarruq

Purpose : To purchase land for project and to finance development of project.

Margin : Up to 50% of land purchase price

Up to 40% of development cost,

Up to 60% of total development cost.

Tenure : Maximum 6 months upon project completion.

Fee and Charge

Charge and Service for Individuals
Transaction Charge
Wakalah Fee NIL
Stamp Duty Fee NIL
Early Settlement Fee Rebate (Ibra’) will be given on the deferred profit
Commodity Trading Fee RM15 will be charged for every RM1 Million (50:50 sharing basis). Minimum transaction is RM1,000.
Late Payment Charges During the financing period:
1% per annum on top of the outstanding payment.

After the financing tenure expires:
Shall not be more than the prevailing daily overnight Islamic Interbank Money Market rate (IIMM) on the outstanding balance.

Additional Documents Required

Bridging Financing-i

  • Approval from the relevant authority on proposed development.
  • Feasibility and marketability study on proposed development.
  • A valuation report of project land to be charged as security.
  • Copy of Sale & Purchase Agreement of project land.
  • Past track record.
  • List of consultants & contractors.