Advantages of Islamic financing scheme with Bank Rakyat
- 20% rebate on stamp duty of financing agreement
- No early settlement fees
- 2% profit rebate through SME Syariah Compliant Facilities Scheme (SSFS) by SME Corp*
- No compounding on unpaid profit
- No commitment fees for unused amount
- Protection against rise in financing profit rate through ceiling profit rate (Bank's sale/ akad price)
- Compulsory rebate (ibra') for early settlement
- Competitive profit rate
*Terms and conditions apply
| PRODUCTS | PRODUCT FEATURES | SPECIFIC REQUIRED DOCUMENTS |
|---|
| Property Financing-i To finance purchase of business premise | - Margin of financing up to 80%
- Concept : Tawarruq
- Maximum tenure of 15 years
| - Copy of Sale and Purchase Agreement (SPA) or Copy of Booking Receipt (if SPA is not available), copy of valuation report, copy of title deed
- Tenancy Agreement (where applicable)
- Purpose of purchasing property
|
| Bridging Financing-i To part finance purchase of land and development costs | - Margin of financing of purchase of land up to 80%
- Margin of financing of development costs up to 60% from Gross Development Costs including purchase of land; up to40% from Gross Development Costs excluding purchase of land
- Concept : Tawarruq
- Maximum tenure according to project tenure.
| - For applications from developer or contractor - list of completed and on-going projects
- Copy of approvals from relevant authorities on building/layout plan, licenses etc (if any)
- Feasibility report if any project costing and location map. To provide projected cash flow for duration of the project/contract
- Copy of Project Paper and Joint Venture Agreement.
|
Project/Contract Financing-i To part finance the cost to complete the contract awarded by government and GLCs | - Financing of up to 80% of the contract cost
- Assignment of contract proceeds
- Concept : Tawarruq
- Maximum tenure according to contract tenure
| - Certified True Copy of Letter of Award of contract to be financed
- Performance bond/bank guarantee
- Cash flow projection and profit and loss projection of the contract
- Contract work schedule
- Procedure of contract payment
- Latest progress reports of the contract to be financed
- List of completed and ongoing projects (including tenure, completion date, awarder and reason for delay if applicable)
- ist of suppliers (including name, address, contact person
|
Working Capital Financing-i To finance working capital for business expansion | - Margin of financing up to 80%
- Concept : Tawarruq
- Revolving tenure depends on working capital cycle
| - Detailed information on purpose of financing, product and pricing
- Manufacturing process flow together with time period
|
Term Financing-i To finance purchase of equipment/machineries | - Concept: Tawarruq
- Financing tenure up to 10 years
| - Original quotation for the equipment/machinery
|
Eligibility
- Companies, which are registered with Companies Commission of Malaysia
- Minimum three years in operation
Basic required documents
- Application letter specifying type, purpose and amount of financing required
- A copy of Company's Profile (including company background)complete profiles of Board of Directors and Management Team
- Company Registration Forms* (i.e.: M&A, Form 9, 24, 32A, 44,and 49 whichever is applicable)
- Past continuous three years Audited Financial Reports (latest to be not more than 18 months old)*
- SLatest management accounts (not more than three months old)*
- Past continuous six months Current Account Statements*
- Supporting information for guarantors
- Debtors and creditors list (not more than three months old)including full name, address, contact person and contact number, credit terms and any reason for its long outstanding
- Projected cash flow according to proposed tenure of financing
*Documents submitted to be certified as true copy by Company's Secretary
*The list is not exhaustive. The Bank may require applicants to submit additional documents.
*For specific required documents for each product, please refer to our website: bankrakyat.com.my
Related financing schemes
| PRODUCT | ORGANISATION | ELIGIBILITY | BENEFIT |
|---|
| SME Syariah Compliant Facilities Scheme (SSFS) (available until December 2014) | SME Corporation Malaysia | - Bumiputera/Non Bumiputera
- Fit the SMEcriteria
- Limit to RM5million financingper company
| |
| MARA Entrepreneur Guarantee Scheme (MEGS) (1% p.a. guarantee fee) | Majlis Amanah Rakyat (MARA) | - 100% Bumiputera companies
- Limit to RM2 million financing per company
| |
| Green Technology Facility Scheme (GTFS) | Credit Guarantee Corporation | - SMEs who aregranted Green Tech Certification
| - Guarantee of up to 60%
- Profit rebate of 2%
|
| Enhancer-i | Credit Guarantee Corporation | SME | - Guarantee of up to 80% on clean portion
|
*Subject to Terms and ConditionsQuick facts
No of Employees
| ECONOMIC ACTIVITY |
|---|
| SECTOR | MANUFACTURING | SERVICES AND OTHERS |
| SMALL | 5-75 employees | 5-30 employees |
| MEDIUM | 75-200 employees | 30-75 employees |
Turnover
| ECONOMIC ACTIVITY |
|---|
| SECTOR | MANUFACTURING | SERVICES AND OTHERS |
| SMALL | RM300,000 to RM15 million | RM300,000 to RM3 million |
| MEDIUM | RM15 million to RM50 million | RM3 million to RM20 million |
How to apply
Application can be forwarded to any Bank Rakyat's branches throughout Malaysia or contact us at:
Small Medium Enterprises
26th Floor, Tower 1,
Bank Rakyat Twin Tower,
Jalan Travers,
50470 Kuala Lumpur
Tel: 03-26129600
Ext: 8945/8858/8311/8890/8794/8013
Fax: 03-2272 2306 / 03-2272 2307
Email: sme@bankrakyat.com.my
For further information, you may visit our nearest branches or call our tele-Rakyat Contact Centre at 1-300-80-5454
* Subject to terms and conditions
