Modal Kerja-i is a short-term revolving credit facility that provides financing for
Customers who wish to obtain financing for their working capital needs. This product is based on Tawarruq transactions.
There are three (3) types of financing under Revolving Working Capital Financing-i (Tawarruq) which are:
1. Purchase Financing
2. Sale Financing
3. Cash Financing
Product Details
This product offers financing facility with features as follows. As an example:
| Facility Amount | RM 200,000.00 |
| Facility Tenure | Continuous subject to annual review |
| (Purchase/Sale/Cash) Financing Amount | Purchase Financing : RM 20,000.00 |
| (Purchase/Sale/Cash) Financing Tenure | Purchase Financing : 120 days |
| Profit Rate (Subject to any current changes) |
Purchase Financing : 7.85 % per annum on daily basis |
| Total Selling Price |
RM 20,000.00 + (Rm 20,000.00 x 120 x 7.85% / 365) = RM 20,516.16 |
Product Disclosure Sheet Modal Kerja-i (Tawarruq)
Fees & Charges
| Stamping Fees | As per the Stamp Act 1949 (Revised 1989) |
| Legal & Disbursement Fees | Include solicitors fees for financing documentation, registration of charge, land search and bankruptcy search and others related charges |
| Takaful Contribution | Based on financing amount given |
| Brokerage Fee | Brokerage fee for every successful Tawarruq transaction is at RM 7 for every millions of commodity purchasing amount. |
Note: Any changes to the related fees and charges will be made in writing by the Bank.
Guarantor/Collateral
Yes. A collateral and/or a guarantor given must be sufficient and subjected to Banks current policy.
