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Bai' al-Dayn

Debt-trading. It refers to the sale of debt arising from a trade transaction in the form of a deferred payment sale

Bai Al-Istina'

A contract that involves the sale of manufactured assets where the Bank pays the manufacturer in advance and the assets are delivered subsequently upon completion. The specifications of the assets are pre-agreed. This contract enables suppliers to be paid a pre-delivery advance

Bai' Bithaman Ajil (BBA)

The sale of goods on a deferred payment basis at a price which includes a profit margin agreed to by both the buyer and seller

Bai Salam

An agreement whereby payment is made immediately while the goods are delivered at an agreed later date. It is the equivalent of an advance payment

Bai Ul-Inah

A buy-and-sell contract whereby the provider of funds will sell its asset to the customer on a deferred payment basis. At the same time, the Bank will buy back the same asset from the customer at a lower price but on a cash basis

Bank Guarantee (BG)

A written undertaking by the Bank (as a Guarantor) to pay a third party (Beneficiary) in the event of a default or non-performance by the client/customer (Principal)

Bank Guarantee-i

A Shariah-compliant facility that guarantees payment to the beneficiary in the event of the customer's non-performance of contract with the beneficiary

Bankers Acceptance (BA)

A draft (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 a bona fide trade i.e. export, import or domestic trade transaction

Bills Exchange Purchased-i

A Shariah-compliant facility that finances exporters/sellers who need funds immediately in exchange for export documents

Block discounting

A credit facility for motor dealers, credit and leasing companies to augment their working capital. It entails the discounting of blocks of HP and leasing agreements receivables for present cash. The blocks of HP and leasing agreements assigned to Maybank are covered under a Master Agreement for block discounting