Murabaha Contract
Murabaha is a particular
kind of sale, where the Seller (normally the Bank) expressly mentions the cost
of assets (e.g. commodity/raw material/machinery/fixed assets); it has
incurred, and sell the same to the Customer by adding some profit thereon.
Thus, Murabaha is not a loan given on interest; it is rather a sale of assets
for either cash or deferred price, on a declared cost plus profit basis.
Tenure:
One year (negotiable
considering the business nature).
Eligibility Criteria:
1. Meet the five Cs
requirement of Credit Department of the Bank
2. Certified true copy of
Business License
3. Valid Tazkira/Passport copy
of company owners guarantors.
4. Financial Statements
5. Company profile
6. Other related documents
Required Collateral:
1. The customer should provide immovable assets as
collateral. The value of collateral should be above 150% of financing facility.
2. Constructive charge on the stocks/raw
materials/tradable goods/equipment purchased for trading.
Benefits:
1. Competitive Profit rate
2. Flexible and Convenient tenure of payment
Comments