AB-i (Export/Sales) is a facility granted to the Client (seller) to finance their usance exports or domestic credit sales. The Client sells the goods on credit. The Client sells his debt to the BMMB and obtains immediate proceed. BMMB enters into Bai’ Dayn contract with the Client (seller /exporter). Bai’ Dayn refers to the sale of a debt arising from trade and services transaction in the form of a deferred payment sale. The client sells this debt to the BMMB at a discount.
The documents required for creating AB-i are: