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Letter of Credit-i

 The Islamic Letter of Credit is based on the concept of Al Wakalah (Agency).
Refers to an agency relationship where the Bank acts as an agent on behalf of a company.
Written undertaking by the Bank will be given to the seller at the request and instruction from the buyer, in making payment to the seller on behalf of the buyer at a determinable future date.


 

 

 

 

 

 
 
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