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Shariah-compliant Short Term Revolving Credit facility offered under the Islamic contract of Murabahah (cost plus profit sale).
Shariah Contract

The Shariah contract applied for STRC-i is Murabahah (cost plus profit sale) via Commodity Murabahah/Tawarruq arrangement. It is a method of sale with a mark-up price whereby the Customer makes payment over an agreed period of time. The underlying asset for the sale transaction between the Customer and the Bank will be a specific tradable Shariah-compliant commodity.

Who can apply
  • All corporate customers
  • Middle market customers
  • Companies incorporated under the Companies Act 2016
Tenure

Maximum financing period of 5 years, with renewal subject to Bank’s approval. Effective Profit Rate will be subject to periodical review.

Utilisation Profit Period

Utilisation is available for a period of 1, 2, 3, 6, 9, up to 12 months.

Ceiling Profit Rate
  • BFR + 4% or 10% whichever is higher
  • This rate is for the calculation of Bank's Sale Price
Effective Profit Rate

To be pegged to the Bank's Cost of Funds (COF) plus a credit spread. COF is made up of KLIBOR plus (liquidity and reserve costs etc) plus margin.

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