Subsequently, an SMS will be sent to you with the details of changes in your financing terms and the additional modification charge. By proceeding with this application, you hereby take note and agree to the following;
The above SMS will allow you to accept or reject the new financing terms including additional modification charge. You are deemed to have accepted if you do not respond to the SMS.
You also understand that you will enter into a Tawarruq arrangement with MBSB Bank to allow the Bank charge you additional profit to reimburse itself for the additional modification charge. You are also deemed to have consented to the appointment of MBSB Bank as Agent to buy and sell Shariah-compliant commodities to complete the Tawarruq arrangement.
Please click here to read terms and conditions of the financing modification cost. The terms and conditions stated in the earlier Product Disclosure Sheet remain unchanged.