Business Banking
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
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
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