It is a short-term export financing scheme granted to manufacturing and trading companies incorporated in Malaysia involved in export activity and international trade. The scheme is funded by EXIM Bank and is available to direct and indirect exporters. The ECR-i is formulated based the Shariah contract of Murabahah and Bai Al Dayn.
- Promotes the export of manufactured goods, agricultural products and primary commodities that are ‘halal’ and permissible according to Shariah.
- Two types of facilities are available to exporters: pre-shipment ECR-i and post-shipment ECR-i. The pre-shipment financing is to facilitate the production of eligible goods for export prior to shipment and to encourage backward linkages between exporters and local suppliers. The post-shipment financing is given to exporters to finance export of eligible goods after shipment
- Covers any product for export from Malaysia except turtle eggs, rattan and poisonous chemicals
- Both direct exporters (manufacturing companies, agriculture product producers, trading companies) and indirect exporters (suppliers of domestic input) are eligible under this scheme
- Transaction is based on ‘halal’ goods
- Financing rate is fixed throughout the tenor
- Improves company's cash flow
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