ITBF-i is a leasing facility for fixed asset acquisition and is calculated based on a fixed or variable rate basis.
The Shariah concept applicable for this product is Ijarah Thummal Bai’. It refers to an Ijarah (Leasing) contract to be followed by Bai’ (Sale). Under the first contract, the Bank as owner leases out an asset to the customer as hirer at an agreed rental payment over a specified period. Upon expiry of the leasing period, the hirer enters into a second contract to purchase the asset from the owner at an agreed price.
Download Ijarah Thummal Bai’ Financing (ITBF-i)
Product Disclosure Sheet
Applying for business financing is now easier with MySMEBank online application