Foreign/Domestic Bills Negotiation-i (FBN-i/DBN-i)

FBN-i/DBN-i is a facility granted by the bank to the customer whereby the bank negotiates the customer’s foreign/domestic bills drawn under a Letter of Credit-i favouring themselves.

Features

Type of facility

  • Trade Bills-i Facility

Trade Line

  • Customer is required to have an existing or pre-approved trade line with the bank prior to the utilization of Bills Purchased-i.

Financing Tenure

  • Sight Bills-Maximum of 30 days
  • Usance Bills-Based on maturity date with maximum up to 180 days

Benefits

  • Provide flexibility in utilization of customer’s credit facility
  • Competitive pricing and margin of financing
  • The profit charged to the customer is fixed upfront
  • Ready access to credit facility without additional security requirement
  • Free up existing credit lines
  • Increase sales capacity from added liquidity
  • Globally accepted Shariah concept used
  • Low late payment charges
  • No processing fee

Eligibility

  • Sole Proprietor
  • Partnership/ Limited Liability Partnership (LLP)
  • Private Limited Company

Requirements

  • Malaysian-controlled or Malaysian-owned business
  • Business enterprise based on the definition of SMEs
  • Confined to the Halal business/requirement
  • Customer must have good credit record and subject to bank’s credit criteria
 

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