Express Trade
We at Noor Islamic Bank believe that there is a trade product offering gap for the Small Businesses in UAE. Express Trade is envisaged to provide a quick, efficient and seamless process that does not require complicated “financial requirements” in terms of analysis, turnaround time and collateral for this target segment. The product defines clear ‘rule based’ customer selection criteria. The products offered are simple low risk with short tenor and with ‘automatic’ renewal; assuming satisfactory performance.
Value Proposition:
The salient features of the product are highlighted below:
- Clear customer selection criteria
- Simple & smooth documentation & credit criteria
- Simple low risk products with short tenors
- Approval process - Rule based model
- Renewals will be “automatic”, assuming satisfactory performance
- Efficient servicing and distribution model
We are offering a complete range of trade finance products under this umbrella.
Express Trade at Noor Islamic bank will be offered under various applicable Sharia’a guidelines and principles depending on the specific product being offered.
| Product | Features | Islamic |
Financing for import, export, manufacture and purchase of goods. |
- Import Letter of Credit - Import Collection - Trust Receipts Financing - Export LC Advising - Export LC Confirmation - Export Collection - Financing against export Bills - Banker’s acceptance - Bid Bonds - Performance Guarantee - Advance Payment Guarantees - Retention Guarantees - Maintenance Guarantees - Financing related guarantee - Airway release - Shipping guarantee |
- Murabaha - Musawama - Wakalah - Istisna - Kafalah |
