| Term | Description |
| Concept | Tawarruq |
| Selling price | Fixed and Known Upfront |
| Takaful Protection | Highly encouraged |
| Choices Mode of Payment | Salary Deduction / Salary Transfer / Standing Instruction / Pension Transfer |
| Wasiat/Will Writing | Optional |
| Structure of Product | Muamalat Personal Financing-i (Tawarruq) is a financing facility that is designed to provide cash financing to the customers for personal consumption/ use which does not contravene with the Shariah principles.Generally, this product is based on Tawarruq as its underlying Shariah concept for provision of financing. The financing structure under the Tawarruq arrangement involves the combination of Wa’d Mulzim, Murabahah, Wakalah and Bai’ Wadhi’ah contracts. |
| Shariah Concepts |
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Purpose
For personal purpose – Cash Consumption
Product
Also known as Pembiayaan Persiapan Persaraan (3P Special)
Who Can Apply
- Civil Servant
- Government staff under pension scheme to retire within 5 year
- Government staff under pension scheme to retire within 5 year
- Malaysian Armed Forces
- Employment under “Tetap & Berpencen” category
- For LLP – at least 16 years in services
- For Officer – Minimum 5 years before retirement
Tenure
Up to 10 years
Financing Amount
- Minimum: RM 5,000.00
- Maximum: RM 250,000.00
Profit Rate
Competitive Flat & Floating Rate
Mode of Payment
Salary with BMMB
Wasiat/Will – writing
Optional (highly encourage)
Takaful
Optional (highly encourage)
Documents Required
- Copy of NRIC or ID (front and back)
- Latest 1 month salary slip (Flat Rate)
- Employment Confirmation Letter
- Latest Settlement Statement
- Investment Statement (if applicable)
Applicants Eligibility
- Repayment Capacity
- Determine by NDI & DSR
- Employment
- Under “Tetap & Berpencen”
Campaign Repayment Table
