Islamic Factoring is a fully Shari’a compliant product that offers you working capital finance against your account receivables. It helps you manage your cash flows efficiently by releasing cash tied up in your receivables.
- Financing: Unlock cash from credit sales upon submission of transaction documents to us. Usually there is no need to pledge any additional collateral security to apply for this facility.
- Credit Protection: We will assist you in obtaining optional credit insurance to protect you against a buyer’s protracted default and bankruptcy.
- Collection Service: We will provide regular payment advices and buyer statements to keep you, and the buyer, informed about the due payments. We will also follow up with the buyer, upon agreeing with you, for payments past their due dates.
Our Islamic Factoring product range offers immediate cash advances on unpaid invoices. These products are especially suited to growing businesses, since the credit lines granted increases with the growth in sales, rather than with additional assets pledged to the bank.
Islamic Factoring also helps grow businesses operating on open account credit by speeding up cash flows, collecting invoices and sales ledger management. Cash flows are improved with up to 90% of invoice values paid upon submission of invoice/related documents.
- Invoice Finance (with or without Collection service)
- PDC Finance
- Export Finance (for cross border open account sales)