Negotiable Islamic Debit Certificate (NIDC)

 

Features

  • It is a certificate of debt issued by the bank andnegotiated on issuance. NIDC is offered eitherbased on the Shariah principle of Tawarruq or Bai’ ‘Inah;
  • Tenors of issuance vary from 1 month to 5 years with returns closely related to the interbank market rates
  • Minimal nominal amount issued is RM 60,000
  • NIDC offers fixed return over the entire tenor of the investment
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