We offer tailored solutions to help you manage your import business while minimizing the financial risks of global trading. Our team ensures all safeguards are in place for a smooth trade transactions.
A Documentary Credit (DC) is a 'commitment to pay' given by the buyer's bank (i.e. the issuing bank) subject to submission of required documentation. Payment will not be made until the documents are received and determined to be in compliance with the terms of the Letter of Credit.
We can also advise on and deliver a range of specialized instruments:
- Standby DCs
- Transferable DCs
- Back-to-Back DCs
- Revolving DCs
Import Murabaha Finance
We offer Shari'a compliant short-term trade finance in conjunction with Import LCs, based on the Murabaha concept, which enables you to fulfill your payment obligation under a sight and usance documentary presentation.
Import Documentary Collections
Documentary collections are an alternative and cost-effective option to documentary credits for importers. Your supplier presents the necessary commercial documents and financial agreements related to the exported goods, with instructions, to their bank, which forwards the documents to us for payment. The payment is made either immediately, or on a fixed date.
As an importer, you may have concerns about conducting business and negotiating payment terms with unfamiliar foreign suppliers.
You need to ensure the goods have been shipped and the supplier has met the terms of the contract but the realities of international trade can make this process challenging. We help your business manage these concerns.
Through import documentary collections, we act as an intermediary in the purchase process, providing you with an opportunity to review key documents before paying your supplier.
Open Account Finance
Payment against presentation of invoices / delivery notes / documentary collection documents
We offer Shari’a compliant import financing solutions for open account transactions. They are designed to help you shorten the time between receiving your receipts and payments, enabling you to enjoy greater flexibility to source new suppliers in new markets who may not be willing to extend payment terms.