Accepted Bills-i (AB-i) – Export/Sales

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.

 

Benefits

  • Competitive rate of financing
  • Competitive edge in the international market
  • 100% financing of the exports bill
Features
  • The customer sells the goods on credit. While waiting for the export/sale proceeds to be realized
  • The Bank provides financing by purchasing the receivables/debt at a mutually agreed price and the proceeds will be credited to the customer’s account
  • Minimum amount of financing RM50,000; bunching of documents to reach the minimum amount of RM50,000 is allowed for financing
  • Minimum financing period is 21 days
  • For exports financing maximum period is 365 days but should not exceed the credit term given by the seller to the buyer and the facility tenor
  • To finance exports for usance period of more than six months, the approval of the controller of Foreign Exchange must be obtained
  • For local sales the usance period not exceeding the remaining tenor of the credit extended to the buyer and should not exceed 365 days.
Document Required

    The documents required for creating AB-i are:

  • AB-i Draft
  • AB-i Bai Al Dayn Contract Note
  • Commercial Documents (Invoice and Transport Documents)
  • Other supporting documents
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