• ImportTrades@CIMB

Commitment by CIMB on behalf of our customer (importer/buyer) that payment will be made to the exporter/seller provided that the terms and conditions of the DC have been met.

 

 

An indemnity given by the customer (countersigned by CIMB) to a shipping company or its agent, to allow the shipping company to release the goods to the customer without the presentation of the original Bill of Lading.

Based on the Shariah principle of Wakalah which refers to an agency relationship where one party is appointed to act as an agent on behalf of another party.

Based on the Shariah principle of Kafalah which refers to a contract of a guarantee or surety given by one party to discharge the liability of a third party in the case of default.

 

Handling of inward documents (domestic or foreign) received from a Remitting bank and/or seller for presentation to a buyer/importer, for either payment on sight or acceptance of usance Bills of Exchange for payment at a future date.

A service provided to buyers/importers by CIMB to facilitate clearance of goods from the airport or port of discharge.

Based on the Shariah principle of Wakalah which refers to an agency relationship where one party is appointed to act as an agent on behalf of another party.

A service provided to buyers/importers by CIMB to facilitate clearance of goods from the airport or port of discharge that adheres to Shariah principles.

A usance Bill of Exchange drawn by the customer and accepted by a Bank for financing trade transactions payable on a specified future date.

A financing facility extended by the Bank to a customer to finance his purchases and/or sales.

  • AB-i Purchase is based on the Shariah principle of Murabahah

A short term trade financing facility offered to customers to finance the purchase/import of goods.

TR-i is based on the Shariah principle of Murabahah whereby the customer (buyer) is appointed as an agent for the Bank to purchase the goods from the supplier (seller) on behalf of the Bank. The Bank will then sell the goods to customers at the Bank’s sale price which includes a profit margin as agreed upon by both parties payable on a specified future date.

A short term working capital financing facility available in both local and foreign currencies.

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