Equipment Financing
This facility offers financing for the acquisition of commercial vehicles and machineries which allows customer to rent the usage of the assets and/or subsequently purchase the assets from MBSB Bank.
Type of Facilities
Equipment Financing-i
A Shariah compliant financing for acquisition of capital asset (fixed asset) that falls outside the First Schedule of Hire Purchase Act 1967, which include heavy equipment and machineries.
Based on Shariah concept of Al Ijarah Thumma Al Bai (AiTAB)
Letter of Credit-i
A written undertaking by the Bank, given to the Seller at the request and on the instruction of the Buyer (Applicant), to pay at sight or at a determinable future date up to a stated sum of money within a prescribed time limit and against stipulated documents which must comply with the terms and conditions.
Based on Shariah concept of Murabahah or Wakalah
Cashline-i
A short term Shariah compliant revolving financing facility generally used for working capital and to lessen short term cash flow requirements. Utilization is via PrimeRich Current Account-i up to the maximum credit limit approved by the Bank.
Based on Shariah concept of Tawarruq
Who can Apply
- SME
- Corporate