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Accepted Bills-i (AB-i) AB-i is a money market priced driven instrument which can be drawn to finance domestic purchases or imports and domestic sales or exports. The AB-i may be sold in the secondary market, thus enabling the Bank to provide attractive financing rate.
PREAMBLE. The Accepted Bills-i (“AB-i”), which was previously known as Islamic Accepted Bills (IAB) were introduced in 1991 with the objective to encourage and promote both domestic and foreign trade through an Islamic financing mechanism.
Features. There are two types of AB-i financing: AB-i Import/Purchase: It is a Usance bill of exchange drawn by the Bank on the customer and accepted by the customer to finance import/purchase. Issued based on the Shariah contract of Murabahah. AB-i Export/Sales: Margin of financing is up to 100% of invoice value for AB-I Import/Purchase.
accepted bills-i (ab-i) This facility applies the Shariah principle of Tawarruq (buying & selling of a commodity), where we buy and sell you an asset, which you agree to pay for on a deferred basis, and you sell the asset to get cash which you can use to pay us.
Mar 7, 2024 · Accepted Bills-i (AB-i) – Import/Purchase. Talk To Us Visit Our Branch. AB-i (Import/Purchase) is a facility granted to BMMB client (buyer) to finance their purchase of trading goods which include raw materials, semi-finished and finished goods.
Accepted Bills-i. Accepted Bills-i is a Bill of Exchange drawn to finance domestic and foreign trade and it is payable on a specified future date. E-mail us, or call us at +603 2058 2800 for more details.
Accepted Bills-i (Sales) is a promised future payment which is a bill of exchange drawn by Sellers/Exporters and accepted by the bank to finance sales of goods and commodities. Sellers/Exporters can obtain financing and receive cash earlier on the extended credit terms on Sales or Exports.
