Contract Financing
Our Contract Financing scheme is designed specifically to suit the needs of companies seeking financing for a specific contract awarded from the Government, GLCs and selected contract awarders at a competitive rate.
Type of Facilities
Term Financing-i
A medium to long term Shariah compliant financing facility for various purposes such as working capital, asset acquisition, construction, refinancing, etc.
Based on Shariah concept of Tawarruq or Istisna' & Ijarah
Revolving Credit-i
A short term Shariah compliant revolving financing facility to finance working capital requirements.
Based on Shariah concept of Tawarruq
Bank Guarantee-i
A shariah compliant guarantee or written undertaking given by the Bank on your behalf to the beneficiary ensuring that your liability/ obligations under the terms of guarantee will be met.
Based on Shariah concept of Kafalah
Letter of Credit-i
A written undertaking by the Bank, given to the Seller at the request and on the instruction of the Buyer (Applicant), to pay at sight or at a determinable future date up to a stated sum of money within a prescribed time limit and against stipulated documents which must comply with the terms and conditions.
Based on Shariah concept of Murabahah or Wakalah
Cashline-i
A short term Shariah compliant revolving financing facility generally used for working capital and to lessen short term cash flow requirements. Utilization is via PrimeRich Current Account-i up to the maximum credit limit approved by the Bank.
Based on Shariah concept of Tawarruq
Who can Apply
- SME
- Corporate