FOREIGN BILL OF EXCHANGE PURCHASE-i

Foreign Bill of Exchange Purchase-i (FBEP-i) is a facility that provides working capital financing for Malaysian exporters in exporting their products to overseas buyers. The facility finances the export bill after shipment has been made.

 
Purpose
To promote the export of Malaysian goods through financial assistance for production of goods and discounting of export bill.
Shariah Concept
The Shariah concept applicable to Foreign Bill of Exchange Purchase-i (FBEP-i) is Tawarruq (Commodity Murabahah)
Eligibility
Malaysian exporters registered under the Companies Act 2016. Non-Resident Control Company is also included. Detailed information can be obtained from the Product Disclosure Sheet
Margin of Financing
Up to 100% of export bill
Tenure
Up to maximum of 180 days
Profit Rate
Cost of Fund-i plus spread
Currency
Ringgit Malaysia, United State Dollars, EURO and other acceptable currency
Payment
Against export proceeds
Disbursement
Disbursement through
  1. Foreign Bill of Exchange Purchase-i Facility against Letter of Credit.
  2. Foreign Bill of Exchange Purchase-i Facility against Documentary Collection.
Security
Against but not limited to the following
  1. Cash Collateral
  2. Shariah Compliant Shares
  3. Sinking Fund
  4. Guarantee / Debenture
  5. Assignment of Takaful proceed or Insurance proceed (if Takaful is unavailable)
  6. Assignment of relevant contracts / agreements inclusive of all project right and benefits
  7. Corporate Guarantee
  8. Shareholders / Directors Guarantee.