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).
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.
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.