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Wadiah Yad Dhamanah (Guaranteed Safe Custody) |
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It refers to guaranteed safe custody where the Bank guarantees repayment of the whole amount of customers’ deposits, or any part thereof, outstanding in customers’ accounts, when demanded. Bank may provide returns to customers as a token of appreciation
 Current Account-i
Savings Account-i
Young Wadiah Saving-i
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Mudharabah Contract (Profit Sharing) |
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It refers to trustee profit sharing between customers as capital provider and the Bank as entrepreneur, to undertake investment activities for profitable returns. The profit-sharing ratio is agreed upon before hand. Any capital losses shall be borne solely by the capital provider.
General Investment Account-i
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Investment Wakalah (Agency) |
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It refers to a contract, which gives the power to customers to nominate the Bank to act on their behalf based on the agreed terms and conditions, usually against a certain fee.
Unit Trust
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| FINANCING CONTRACT |
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Bai Bithaman Ajil Contract (Deferred Payment Sale) |
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It refers to deferred payment sales where the goods are sold on a deferred payment basis. The sale price includes profit margin as agreed to by both customers and the Bank.
Term Financing-i
Cash Line-i
Equipment Financing-i
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Ijarah Contract (Leasing) |
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It refers to a contract whereby a lessor (the Bank) leases out an asset or equipment to customers at an agreed rental fee and pre-determined lease period upon the contract.
Leasing-i
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Ijarah Thumma Bai’ Contract (Leasing and subsequently Purchase) |
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It refers to an Ijarah (leasing/renting) contract to be followed by Bai’ (sale) contract. Under the first contract, customers lease the goods from the Bank at an agreed rental over a specified period. Upon expiry of the leasing period, customer enter into a second contract to purchase the goods from the Bank at an agreed price.
Industrial Hire Purchase-i
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Corporate Financing under Bai’ Istisna’ or Ijarah Muntahiah Bi Tamlik |
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Bai’ Istina’ and Ijarah Muntahiah Bi Tamlik are the contracts used by our corporate financing in offering financing to customers. The former refers to the sale by order whereby Bank will finance customers who wish to acquire assets being constructed and to defer payment for the asset for a specific period, or to pay by instalments. The latter refers to the Bank purchasing the asset as required by customers and subsequently leased the asset to the customers on terms and conditions as agreed by both parties. At the end of the lease period customers will purchase the asset from Bank at its residual value.
Syndicated Financing & Corporate Financing
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Bai’ Murabahah (Cost Plus Sale) |
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It refers to the sale and purchase transaction for the financing of an asset whereby the cost and profit margin (mark-up) are made known and agreed by all parties involved. The settlement for the purchase can be settled either on a deferred lump sum basis or on an instalment basis, and is will be specified in the agreement.
Accepted Bills-i
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It refers to a contract, which gives the power to customers to nominate the Bank to act on their behalf based on the agreed terms and conditions.
Letter Credit-i
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It refers to a contractual guarantee given by the Bank to assume the responsibilities and obligations of customers as the party being guaranteed on any claims arising thereof.
Bank Guarantee-i & Shipping Guarantee-i
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Bai'Inah Contract (Sell with immediate buy back) |
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Refers to a contract whereby the seller sells his asset to the buyer at an agreed selling price to be paid on deferred basis. After that, the buyer immediately sells back the assets to the seller at a cash price, lower than the agreed selling price.
Personal Financing-i & Cash Line-i
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Musharakah Mutanaqisah (Musharakah means Partnership ; Mutanaqisah means Diminishing) |
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This Shariah concept refers to a form of partnership in which one partner promises to gradually buy out the equity of the other partner in the partnership.
As a financing mechanism, this Shariah concept allows the financier and the Customer to enter into co-ownership of a property on the Customer's promise to gradually buy over the financier's share in the property.
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