An alternative working capital financing facility with purpose of financing the export and trade sale of Shariah-compliant raw materials/trading goods (related to business) based on the Shariah principle of Murabahah via Tawarruq concept.
Profit Based on AB-i Islamic Money Market Rate
Profit will be based on AB-i Islamic Cost Of Fund Rate (to be fixed by the Bank on the intended utilization date) + accepted commission rate as per Bank’s approval All profit to be collected upfront from net proceeds to be credited to the Customer or third party authorised by Customer.
Based on Murabahah via Tawarruq Arrangement
AB-i Sale is based on Shariah principles of Murabahah via Tawarruq arrangement that refers to purchasing of Shariah compliant commodity with deferred price, then selling it to a third party to obtain cash.