Under the export finance facility, the Bank will extend export finance facility to the customer to purchase goods/raw materials against receipt of inward letter of credit from the importer.
- The exporter has a bank commitment to pay against compliant documents, instead of running the importer's commercial risk
- The selling price is fixed and agreed by both parties; i.e. Customer and the Bank will remain unchanged until the end of the payment period.
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...