Tawarruq Cash Line-i

  • Tawarruq Cash Line-i Facility is an Islamic Overdraft facility, a financing granted under a current account, whereby the customer is authorized to draw on account up to the approved limit. Tawarruq Cash Line-i Facility is a product suitable for financing of short term working capital requirement and contract financing particularly to cater to customers who require flexibility in the utilization of credit facilities in their daily business transactions.

Purpose

Tawarruq Cash Line-i can be applied for the following purposes:

  • Businesses which are trading in nature, where there is a constant flow of cash from sales proceeds.
  • Businesses which have a steady flow of project (e.g. with government and semi-government agencies) and whose payments are based on completion of projects and on credit basis.
  • Businesses which require cash on standby basis to meet their temporary cash flow requirements.
  • For working capital requirement which is necessary to pay administrative and personnel cost pending sales proceeds, for purchase of raw materials for construction and purchase of machinery and tools for manufacturing.

Features

  • Minimum tenure is 1 year and maximum tenure is 10 years
  • Facility amount: Subject to the Bank’s prevailing Credit policies and approval.
  • Tenure is up to 20 years.

How to Apply

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