• Import/Local Purchase Financing - Main Visual

Import/Local Purchase Financing

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Import/Local Purchase Financing

Import Financing/ Local Purchase Financing also known as Murabaha Financing is a contract where in the bank, upon request by the customer, purchases an asset from a 3rd party supplier/ vendor and sells it to the customer with an agreed mark up (cost plus profit) either against immediate payment or on a deferred payment basis. If the cost of a transaction cannot be identified and only the selling price is disclosed, locally or internationally Musawama can be used.

Product Features

Product Features
  • Import Finance/Local Purchase Financing is used for short/ medium/ long term finance for :
    • Raw material
    • Inventory
    • Equipment
    • Asset financing
    • Vehicle financing
    • Or any other asset to be purchased
  • The commodity to be sold to the customer has to be in a tangible form or ensured of its existence and the seller must have the ownership of the commodity
  • The bank, the customer and the seller must mutually agree upon the price of the commodity.
  • Flexible repayment plans (short term / long term)

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