Murabahah is another type of sale and purchase contract, with a deferred payment element. The contract of sale may take place when a buyer who wishes to purchase assets, requests the Bank to purchase assets at cost (purchase price) and in return the Bank will charge the buyer an agreed profit margin which is incorporated into the selling price. The selling price is subsequently payable on a deferred single payment.
Fixed Cash Line Facility-I Scope:
- For working capital requirements
- For personal consumption
- For purchase of assets/properties
Fixed Cash Line Facility-I offers:
- No commitment fee on unutilised amount
- Maximum financing period (tenure) for particular ceiling rate is 5 years and the profit rate will subject to periodical review
- Also available for shorter financing period of 3,6,9,12 months up to a maximum of 5 years
- The profit rate is at par with the Conventional OD rate
- Protection against rise in BFR by a fixed ceiling rate
- Third party financing is allowed.
Who can apply
- Muslims and non-Muslims individuals or joint account holders
- Companies incorporated under the Companies Act
*Terms and conditions apply
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