TRUST RECEIPT-i

Malaysian importers of strategic goods may ease their cash flow through the financing of their imports with the Trust Receipt-i (TR-i).

 
Purpose
Trust Receipt-i is a trade finance facility that finances imports and bridges the working capital requirements of a merchant, through the extension of credit period under:
  1. Documentary Credit-i terms
  2. Inward Documentary for Collection-i

Until receipt of sales proceeds and shall be granted for Halal purposes.

Shariah Contract
The Shariah contract / concept applicable to Trust Receipt-i is Murabahah
Eligibility
  1. Imported goods of strategic value are eligible. Local suppliers are not eligible. However, imported goods from a local agent may qualify
  2. Components or semi-finished goods for further processing for export market
  3. Goods for trading purposes must not be perishable nor capital goods
  4. Goods must be Shariah-compliant

Detailed information can be obtained from the Product Disclosure Sheet

Tenure
Duration of the facility is up to 180 days.
Profit Rate
The profit rate based on Cost of Fund-i plus spread.
Currency
Ringgit Malaysia, United States Dollars, Euro and other acceptable currency.
Payment
Full payment upon maturity of each disbursement.
Security
Against but not limited to:
  1. Pledged against cash collateral
  2. Sinking fund
  3. Landed Property
  4. Debenture fixed or floating
  5. Assignment of Takaful cover
  6. Assignment of payment proceeds
  7. Assignment of Sales proceed
  8. Other security the Bank deem necessary
Fees and Charges
Processing fee of 1.0%* of the financing amount.
(*) subject to Terms and Conditions. Not applicable to SME.