- Istisna' (acquisition of asset/property under construction/manufacturing by specifications/order)
- Ijarah Muntahia Bi al-Tamlik (leasing ending with ownership).
Leasable Assets (to be constructed, completed and delivered by customer to the Bank) such as landed property, building, aircraft, vessel, etc.
For project financing under manufacturing and/or construction such as landed properties, vessel, aircraft and infrastructure projects.
Existing and new eligible corporate and commercial customers, local and foreign.
Generally, proper Customer Due Diligence (CDD) is to be conducted on eligible customers and enhanced CDD is to be conducted on non-resident/higher risk customer.
Financing Amount and Margin of Financing
As per the existing credit policies for Islamic Term Financing.
Lease Term / Tenor
As per existing term financing based on customer's requirements and credibility.
Profit Rate / Pricing
The pricing is as per the existing pricing for Islamic Term financing can be offered under :-
- Fixed rate
As per the Islamic and conventional term financing rate. The rate will remain fixed throughout the financing tenor. The rate will be determined based on tenor, Cagamas Standard Rate, Borrower Risk Rating ammortizing type of the fixed rate financing.
- Floating rate
BFR + margin/spread (at par with the conventional rate i.e. the spread ranges from 0% to 2.5%.
- A combination of fixed rate and floating rate.
Note: There is no Selling Price element for Istisna' Wa Ijarah Muntahia Bi al-Tamlik Term Financing-i thus Selling Price Rate is not applicable to this product.
Mode of Rental Payment
1. Bullet or lump-sum payment;
2. Periodically i.e. monthly, quarterly, half-yearly and yearly.
3. Payment of Advance Rental during the construction period
Profit Computation Method
Daily Rest/Monthly Rest
1. Daily Rest - Month End
2. Monthly Rest - Month End
As per agreed terms between the Bank and the customer
Prepayment/ Prepayment Fee
Prepayment is allowable during the lease/financing period. Prepayment fee on early settlement of the financing is not allowed.
Costs and Expenses
Customer is responsible for minor costs and expenses related to the maintenance of the Ijarah Asset.
Customer is responsible for cost of Takaful against fire/burglary on:-
- the asset/property charged/assigned/pledged to the Bank.
This facility will operate within the parameter set by Islamic Banking Act (IBA), Exchange Control Malaysia (ECM), Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA), Association of Islamic Banking Institutions Malaysia (AIBIM) Rules & Regulation, Maybank Group's policy and procedures including Anti-Money Laundering/Counter Financing of Terrorism(AML/CFT) and related guidelines issued by Bank Negara Malaysia (BNM).
Other terms and Conditions
Other terms and conditions such as compensation fee (ta’widh), cross-default and margin of financing are as per the existing term financing under BBA, Inah, MM and Murabahah.
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