Bank Muamalat Malaysia Berhad

BizSTAR-i

Muamalat BizSTAR-i is a financing package based on Shariah concept of Tawarruq with combination of Property Financing-i Tawarruq & MCash-i products. This product packaged is designed to cater for finance/refinancing the purchase of business premises and to provide cash financing to customer for Business Banking and SME Retail Business.

Benefits

The Bank at its discretion may grant Ibra´ or rebate on any unutilised financing amount.
The Ta’widh (compensation) amount shall not be compounded on the overdue instalment or outstanding principal amount.

Features

Financing Limit

Package A: RM500,000 to RM5.0 million
Package B: RM300,000 to RM499,999
Package C: RM150,000 t0 RM299,999

Note: The above packages will be differentiated based on the property value and the pricing capped up to RM5.0 million per customer.

Margin of Financing (MOF)

Maximum up to 105% against Open Market Value (OMV) or Sale & Purchase Agreement (SPA) (whichever is lower):

By Products	Maximum MOF
Property Financing-i	90%
MCash-i	10% or up to RM1.0mil
Moving Cost & Related Expenses (MCRE)*	5%
Total	105%

*MCRE:

Mortgage Reducing Term Takaful & Credit Level Term Takaful
Legal Cost
Valuation Cost

Tenure of Financing

Property Financing-i: Maximum up to 15 years
MCash-i: Up to 5 years with option to renew and subject to periodic review.

Profit Rate

Property Financing-i:

Package A: BFR – 2.00%
Package B: BFR – 1.90%
Package C: BFR – 1.80%

MCash-i: BFR + 1.75%

Note: Rate reduction of 0.1% is entitled for Customer who opts for MRTT.

Objectives

To address the property and expansion needs of business;
To realize the Government aspiration on the SME needs for better funding mechanism and assistance to optimise the business contribution to the economy.

Target Costumers

Minimum 3 years in related business operation* ;
No adverse remarks on CTOS;
No adverse remarks on CCRIS;

Fees & Charges

Processing Fee : Waived
Brokerage Fee: 50% of brokerage fee via Bursa. The
fee is RM15.00 per million (not applicable for SME
Retail Business customers)
Stamp Duty (as per the Stamp Duty Act 1949
(Revised 1989): Ad valorem stamp duty shall be
borne by customer.
20% of stamp duty remission for principal document
based on Shariah principles.