LETTER OF CREDIT-i

The Letter of Credit-i (LC-i) is available to facilitate the importation of goods. The goods imported must be strategic goods that enhance the Malaysian manufacturing capability or goods that are unavailable in Malaysia.

 
Purpose
To facilitate the importation of strategic goods.
Shariah Contract
The Shariah contracts applicale to Letter of Credit-i are Wakalah and Murabahah depending on the requirement of the customer.
  1. Wakalah
  2. Murabahah
Eligibility
Malaysian companies registered under the Companies Act 2016. Non-Resident Foreign Company is also eligible.
The subject of the facility must be for Shariah-compliant purposes
 
Detailed information can be obtained from the Product Disclosure Sheet
Tenure
Up to the requirement of the contract or funding requirement of the investment project.
Currency
Ringgit Malaysia, United States Dollars, Euro and other acceptable currencies.
Security
  1. Cash Collateral
  2. Corporate Guarantee
  3. Shareholders/Directors Guarantee
  4. First charge on fixed and floating asset of customer
  5. Charge on Landed Property
  6. Assignment on contract/payment proceed/Takaful/project rights and benefits.
  7. Assignment of Designated Accounts
  8. Pledged shares
  9. Fixed Deposit/General Investment Account
Fees and Charges
Up to a maximum of 0.1% per month of the Letter of Credit-i amount
Kindly refer to Standard Fees and Charges for Islamic Trade Finance Product for detailed fees and charges.