BANK GUARANTEE-i

The guarantee facility is available to facilitate the issuance of bonds for overseas contracts undertaken by Malaysian contractors and also to enable Malaysian investors to raise funds overseas.

The subject of the facility must be for Shariah-compliant purpose.

 
Purpose
To facilitate the bond and guarantee issuance requirements of an overseas project or contract.
Shariah Contract
The Shariah concept applicable to Bank Guarantee-i is Kafalah.
Amount of Guarantee
Depending on the Project/Contract value
Eligibility
  1. Against overseas contracts or investments
  2. The subject of the facility must be for Shariah-compliant purposes
Detailed information can be obtained from the Product Disclosure Sheet
Tenor/Period of Guarantee
Up to the requirement of the contract or funding requirements of the investment project
Guarantee Fee
Up to a maximum of 3.0% per annum of the guaranteed amount
Currency
Ringgit Malaysia, United States Dollars, Euro and other acceptable currencies.
Security
Any but not limited to the followings:
  1. Cash Collateral / Sinking Fund Account
  2. Corporate Guarantor
  3. Shareholders / Directors Guarantee
  4. First charge on fixed and floating asset of customer
  5. Charge on Landed Property
  6. Assignment of contract/payment proceeds/Takaful/project rights and benefits.
  7. Assignment of Designated Accounts
  8. Pledge of shares (Shariah-Compliant)
  9. General Investment Account (GIA)
Fees and Charges
Detailed fees and charges can be obtained from the Standard Fees and Charges for Islamic Trade Finance Product.

 *All customers may require to take-up the insurance/takaful as a condition of the facility offered, where applicable.