An alternative working capital financing facility with purpose of financing the import and/or local purchase of Shariah-compliant raw materials/trading goods (related to business) based on the Murabahah concept of cost plus profit sale.
Profit Based on AB-i Islamic Money Market Rate
Profit will be based on AB-i Islamic Money Market Rate (to be fixed by the Bank’s Treasury Division on the intended utilization date) + acceptance commission rate to be approved by the Bank and payable upfront by the Customer.
Purchase and Sale of Raw Materials/Trading Goods
The required raw materials/trading goods will be purchased by you on behalf of the Bank. The Bank will then sell the raw materials/trading goods to you at a marked-up price, which is inclusive of a profit margin and allow you deferred payment terms.
AB-i Financing is available for transactions under LC-i opened by the Bank.