MWCF-i is a facility granted to BMMB client (buyer) to finance their purchase of trading goods which include raw materials, semi-finished (cost-plus profit) with the client. Murabahah is a "cost-plus profit" sale contract. It is a facility granted to customers for financing their short term working capital requirement by way of lump sum deferred payment cost plus profit.
Benefits
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Advance made by the BMMB on behalf of its client (buyer) to pay the seller |
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Client pays BMMB on deferred payment term |
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Immediate payment to the seller(documents received in order before cut-off time) |
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Rebate may be given on early settlement |
Features
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The cost must be revealed |
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The price and tenure of the lump-sum deferred payment must be agreed upon by BMMB and the client |
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BMMB appoints its client as an agent (Wakil) to purchase on its behalf |
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Marginal deposit may be imposed |
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Trade transactions on cash term (sight or D/P) only are allowed |
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Financing for item of saleable value; e.g. purchase of stock and inventories, spares and replacements, semi-finished goods and raw materials |
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The minimum amount of financing is RM5,000.00 |
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The minimum tenor is for 30 days |
Documents Required
The documents required for creating MWCF are:
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MWCF Contract Note |
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Al-Murabahah Working Capital Financing Letter |
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Bill of Exchange (duly accepted by the customer) |
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Commercial Documents (Invoice and Transport Documents |
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Other supporting documents |
