This is a short term deposit account based on the Shariah principle of Murabahah via Tawarruq arrangement.
Any placement made under the STCMP-i shall be in Ringgit Malaysia (“RM”) and approved foreign currency with the minimum sum prescribed for the corresponding tenure as may be determined by HLISB from time to time with prior notice.
The tenure of deposit shall range from one (1) day to a maximum of three hundred sixty five (365) days as may be elected by the Customer(s) and determined by HLISB from time to time with prior notice.
The acceptance and / or renewal of such placements, tenure (s), and rate (s) quoted for STCMP-i is entirely at the absolute discretion of HLISB.
HLISB pays the profit from the STCMP-i account to the Customer(s) upon maturity of the placement.
Member of PIDM. Protected by PIDM up to RM250,000 for each depositor.
Short Term Commodity Murabahah Placement -I (STCMP-i) Indicative Rates
(Protected by PIDM up to RM250,000 for each depositor)
Effective from 09 September 2022
Provides an alternative investment avenue for corporate customers to place their excess funds with the bank at a more flexible tenor as compared to the rigid tenor of fixed deposits. Member of PIDM. Protected by PIDM up to RM250,000 for each depositor.