IMPORT FINANCING-i

Malaysian importers can make avail a Shariah-compliant Import Financing-i (IF-i) facility for goods or asset, which is strategic to the Malaysian economy.

 
Purpose
The purpose of Import Financing-i is to finance imports of “strategic goods” consisting of Halal capital goods, raw materials and related goods for the development, upgrading expansion of infrastructure facilities or other expenses related to client’s business activities, which will ultimately reduce dependency on imports and also for government initiatives projects.
Shariah Contracts / Concepts
The Shariah contracts / concepts applicable to Import Financing-i are:
  1. Ijarah
  2. Murabahah
  3. Tawarruq (Commodity Murabahah)

* Whichever applicable

Eligibility
  1. Malaysian-owned or controlled company incorporated in Malaysia
  2. A joint venture between a Malaysian and foreign company with the Malaysian owning not less than 51% of the joint venture company

Detailed information can be obtained from the Product Disclosure Sheet

Margin of Financing
Margin of financing is up to 90% of import order value.
Tenure
Tenor is subject to yearly review. The facility may be revolving or term of up to 10 years.
Profit Rate
At cost of fund-i plus spread. The spread shall be based on risk rating of the company and other non-qualitative considerations.
Currency
Ringgit Malaysia, United States Dollars, Euro and other acceptable currencies.
Payment
At maturity of each financing period.
Disbursement
Direct to the overseas suppliers or local agent or Importers (on reimbursement).
Security
Against but not limited to the following:
  1. Corporate Guarantee
  2. Shareholders and/or Director Guarantee
  3. Landed Property
  4. Charge of fixed floating assets of customer
  5. Assignment of Takaful/Insurance policies and contract proceeds
Fees and Charges
Processing fee of 1.0%* of the financing amount.
(*) subject to Terms and Conditions. Not applicable to SME.