Accepted Bills-i^ enables you/your business to obtain financing for your purchases/import and/or sales/exports in order to fund your business's working capital requirements.
i. Import and Domestic Purchases (based on the underlying concept of Murabahah - Cost plus profit basis)
A contract of sale between the Bank and customer for the sale of goods at a price plus profit payable on deferred terms constitutes a creation of debt. This is securitised in the form of a bill of exchange drawn by the Bank and accepted by the customer for the full amount of the Bank’s cost price plus profit margin, payable on maturity. Accepted Bills-i (Import) is restricted to MYR financing only as per BNM’s AB-i Guidelines.
ii. Export and Domestic Sales (based on the underlying concept of Commodity Murabahah – Cost plus profit sale of commodities)
AB-i Export/Sales is used for facilitating export financing and is governed by Accepted Bills-i (AB-i) Guidelines issued by Bank Negara Malaysia (BNM). Accepted Bills-i (Export) is restricted to MYR financing only as per BNM’s AB-i Guidelines.
^ Based on the underlying principle of Murabahah (cost plus profit basis) and Commodity Murabahah (cost plus profit sale of commodities)
Click here to view the Accepted Bills-i Product Disclosure Sheet.
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