The product is designed for customers that are involved in import businesses. Under import finance, a letter of credit is issued by Jaiz Bank in favour of a beneficiary (exporter) on behalf of the applicant (importer). The Bank commits and accepts to pay against trade documents drawn in compliance with the letter of credit terms.
Customers can utilize the facility to purchase raw materials, finished goods, equipment, machinery and other consumables from the international markets. These goods are first bought by Bank for its account on orders of the customers by paying cash or through LC as the case may be and then sold to the customers with profit mark up on deferred payment basis. Payments on a deferred basis can be made to the Bank in instalments or in one lump sum amount.
Export Finance (Murabaha)
Under the export finance facility, the Bank will extend the export finance facility to the customer to purchase goods/raw materials against receipt of the inward letter of credit from...
Project Financing/ Construction (Istisna')
Under this contract, the Customer will request and the Bank will agree to construct and to sell the project to be constructed at the Bank's selling...