Trade Finance-i

Letter of Credit-i

Letter of Credit-i is 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.

Product Disclosure Sheet

Tawarruq Working Capital Financing-i

Tawarruq Working Capital Financing-i is a financing given by the Bank based on invoices and other supporting documents given by the Customer. It is to finance purchases or sales of goods or services.

Product Disclosure Sheet

Trust Receipt-i

Trust Receipt-i is a financing given by the Bank, to finance the purchase/import of goods through the Bank’s Letter of Credit-i.

Product Disclosure Sheet

Shipping Guarantee-i

Shipping Guarantee-i an indemnity given by the Consignee named in the Bill of Lading and countersigned by the Bank, to a shipping company or its agent, so that the merchandise may be released to the Consignee named in the Bill of Lading without the physical presentation of the relevant Bill of Lading.

Inward Bills for Collection-i

Inward Bills for Collection-i is the handling of inward documents received from Seller’s bank or directly from Seller for presentation to Buyer/Importer for payment at sight or acceptance of usance Bills of Exchange for payment at a future date.

Inward Letter of Credit-i

Under Inward Letter of Credit-i, the Bank provides advisory services to the Seller/Beneficiary as an agent to handle their Letter of Credit documents received from their buyers or the Issuing Bank.

Outward Bills for Collection-i

Under Outward Bills for Collection-i, the Bank, upon receipt of instruction from Seller/Exporter, handles the export documents submitted by the exporter for onward presentation through a bank for payment from the Buyer/Importer.

Bank Guarantee-i

Bank Guarantee-i is an undertaking by the Bank to a named Beneficiary and to an agreed sum, in case of default by a third party in fulfilling their obligations under the contract.