- Based on the principle of Murabahah (cost plus profit)
Stamp duty exemption for financing documents
- Stamp duty is exempted for non-Ringgit instruments under International Currency Business Unit (ICBU) incentives under the Malaysia International Islamic Finance Center (MIFC) initiative.
- You are only required to declare to Bank Negara Malaysia (BNM) when your foreign currency financing exceeds RM10,000,000 or equivalent.
No limit for purchase of overseas property
- Up to 70% margin of financing for a 3rd housing financing purchased locally, as per BNM guidelines.
Foreign Currency Exchange Risk Exposure
- Minimize foreign currency exposure via deposits in a Foreign Currency Account.
Save profit when you pay more
- Extra funds paid into the financing account will automatically reduce the principal and save your profits.
No early settlement charges / exit penalty
- No extra charges when you settle the financing early.
Protection of ceiling rate upon the fluctuation of Islamic cost of fund (ICOF)
- Protect your exposure with the maximum claim by the Bank upon fluctuation of ICOF.
No Withholding Tax Incurrence
- Remittance is not required since both customer and the financing account resides in Malaysia.