A bill of exchange drawn by customers to their order, payable on a specific future date and accepted by the bank for the purpose of financing export, import or domestic sales and purchase.
Facility for seller/exporter where the Bank can purchase seller/exporter’s ODC and credit his accounts immediately.
OBC is bills submitted by a seller or exporter to the Bank for onward submission to the buyer or importer’s bank in or outside Malaysia with instruction for payment or acceptance.
A short-term trade financing scheme by EXIM Bank granted to exporters and indirect exporters. It is to promote the export industry of Malaysia.
ILC refers to Letter of Credit received by the bank issued by correspondent banks in favour of a beneficiary (seller or exporter). The bank will then advise the ILC to the beneficiary.
A loan facility in foreign currency to finance importation of goods including capital goods such as machinery and plants from foreign suppliers and export financing.
A trade financing facility for financing of imports, exports and domestic sales and purchases. Financing is available for other separate payments such as freight/carrier charges and import duties.