Term Financing-i is an Islamic financing facility provided to the customer for carrying out the activities or projects that have relevance to the agricultural sector. This product is based on the Tawarruq transactions.
This product offers financing facility with the following purposes as follows:
- To purchase assets, goods, or services
- To redeem the assets.
- To obtain the working capital.
- For refinancing
- For restructuring
- For the purposes of Shariah compliance financing
Fee & Charges
|Stamping Fees||As per the Stamp Duty Act 1949 (Revised 1989).|
|Legal & Disbursement Fees||Include solicitors fees for financing documentation, registration of charge, land search and bankruptcy search and others related charges.|
|Takaful Contribution||Based on financing amount given.|
|Brokerage Fees||Brokerage fee for every successful Tawarruq transaction is at RM 15 for every millions of commodity purchasing amount (Subject to GST at zero rated (0%) effective 1 June 2018 ).|
Note : The bank will send at least 21 days notice to customers before any change is made to the fees and charges.