Malaysian importers for strategic goods may ease their cash flow through financing their imports with our Trust Receipt-i (TR-i).
Trust Receipt-i is a trade finance facility that finance imports and bridge the working capital requirement of a merchant through extension of credit period under:
- Documentary Credit-i terms
- Inward Documentary for Collection-i
Until receipt of sales proceed and shall be granted for Halal purposes.
The Shariah contract applicable to Trust Receipt-i is;
- Imported goods of strategic value are eligible. Local suppliers are not eligible. However, imported goods from a local agent may qualify
- Components or semi finished goods for further processing for export market
- Goods for trading purposes must not be perishable nor capital goods
- Goods must be Shariah compliant
Detailed information can be referred to Product Disclosure Sheet
Duration of the facility is up to 180 days.
The profit rate based on Cost of Fund-i plus spread.
Ringgit Malaysia, United States Dollars, Euro and other acceptable currency.
Full payment upon maturity of each disbursement.
Against but not limited to:
- Pledged against cash collateral
- Sinking fund
- Landed Property
- Debenture fixed or floating
- Assignment of Takaful cover
- Assignment of payment proceeds
- Assignment of Sales proceed
- Other security the Bank deem necessary
Processing fee of 1.0%* of the financing amount.
(*) subject to Terms and Conditions. Not applicable to SME.
Note: All fees and charges are subject to Goods and Services Tax (GST)