Export Credit Refinancing (ECR-i)

There are two types of facilities available to exporters under ECR – i Scheme:

A facility granted to exporters (direct and indirect) to prepare the eligible goods (halal and permissible according to Syariah Principles and as per Exim Bank Guidelines) prior to shipment. The Islamic principle mechanisms applicable are Murabahah (cost plus financing) and Bai’ Al-Dayn (debt trading).

Benefits

  • Competitive / low rate financing;
  • Competitive edge in the international market. 100% financing of the invoice value.

Features

  • The facility is funded by Exim Bank;
  • To finance exporters to prepare goods prior to shipment;
  • Rate of financing is fixed by Exim bank;

Methods of financing available
Certificate of Performance (CP), 100% financing of the amount endorsed on the reverse of the CP;
Order Based Method (OBM). Financing up to 80% of the export order for financing is RM12,500.00.

  • Minimum amount of financing is RM10,000.00;
  • Financing for tangible goods only (e.g. raw material, intermediate of final goods);

Draws 2 shipment bills
Cost + Exim Bank’s profit;
ECR – i Bank’s profit.
(Period of financing: not exceeding 4 months.)

A facility granted to direct exporters to finance their exports of eligible goods (halal and permissible according to Syariah principles and as per Exim Bank guidelines) on credit terms. The Bank enters into Bai´ Al-Dayn contract with the exporter.

Features

  • Financing for direct exporters only;
  • Exports of eligible goods as per Exim Bank´s guidelines;
  • Exporters must export on credit terms (minimum of 30 days);
  • Minimum of export bill for financing is RM10,000.00;
  • Period of financing: minimum of 7 days & maximum of 6 months;
  • Discount Rate: fixed by Exim Bank.

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