Based on a tripartite arrangement where the Bank purchases a specified commodity from a supplier in the market on spot basis and sell it to customer (on cost plus). Customer then, sells it to the market for cash.
Specially designed on revolving basis for convenient multiple utilization
Provide short term financing for local purchases or imports and working capital
The purpose of financing is for purchase of Shariah compliant stocks, inventories, intermediate goods and raw materials or any other working capital requirement
Method of payment is either by bullet payment of selling price upon maturity or profit servicing during the tenor and bullet payment of purchase price upon maturity
*Product is available only at selected business centres