Project / Contract Financing-i

  • Purpose
     To part finance the cost to complete the contract awarded by government and GLCs
  • Assignment of contract proceeds
  • Financing of up to 80% of the contract cost
  • Maximum tenure according to contract tenure
  • Shariah Concept 
    Bai` `Inah
  • No early settlement fees
  • Protection against rise in financing profit rate through ceiling profit rate
  • No compounding profit
  • Compulsory rebate (ibra') for early settlement
  • No commitment fees for unused amount
  • Private Limited Companies
  • Public Limited Companies
  • Cooperatives
  • Certified True Copy of Letter of Award of contract to be financed
  • Latest progress reports of the contract to be financed
  • Cash flow projection and profit and loss projection of the contract
  • List of completed and ongoing projects
    (including tenure, completion date, awarder and reason for delay if applicable)
  • Contract work schedule
  • Procedure of contract payment
  • List of Suppliers
    (including name, address, contact person)