Sijil Hutang Islam Boleh Niaga is an Islamic negotiable certificate representing a deposit placed with the Bank, payable at a future date at its nominal value. The principal is guaranteed if held to maturity. However, this product is not protected by PIDM due to its negotiable nature.
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 5.0 million
- NIDC offers fixed return over the entire tenor of the investment
