WHAT DO I GET FROM THE FINANCING?
To part finance the working capital requirement for all sectors financed. The facility has the following features:-
- Minimum : RM10 million
- Maximum : RM500.0 million (Single Customer Limit)
- The tenure : Up to 5 years
- Financing limit : Up to 85% of each contract value/invoices or up to 30% of total contract sum
WHAT IS THE FINANCING RATE?
The Bank’s profit rate charged may be fixed or floating. Floating rate is typically based on the Base Financing Rate (BFR) plus profit spread. E.g. BFR + 2.00% and the effective rate will vary in accordance to the periodical changes in the BFR.
WHAT ARE THE FEES AND CHARGES I HAVE TO PAY?
The financing may attract the following fees and charges, whenever applicable:
- Stamp Duties as per the Stamp Duty Act 1949 (Revised 1989)
- Processing Fee
- Kafalah (Bank Guarantee Fee)
- Letter of Credit Fee
- Changes to the Letter Offer Fee
- Change in Availability Period Fee
- Administration Fee
- Advance payment Fee
- Ta’widh (Compensation Charge for Late Payment)
WHAT IF I FAIL TO FULFILL MY OBLIGATIONS?
The Bank may impose a compensation charge on late payment (Ta’widh) at the following rate:
- Ta’widh at 1% per annum on the overdue instalment (where applicable) during the tenure of the facility.
- Ta’widh at the prevailing daily overnight of Islamic Interbank Money Market (IIMM) rate or other rates that Bank Negara Malaysia may specify against the outstanding balance if the overdue continues beyond the maturity date of the Facility.
WHAT IF I FULLY SETTLE THE FINANCING BEFORE ITS MATURITY?
The Bank shall grant Ibra’ (Rebate) under the following circumstances, subject to applicable terms and conditions :
- Early redemption.
- Partial redemption/prepay/advance payment.
- Facility is not fully disbursed.
WHAT ARE THE MAJOR RISKS INVOLVED?
If you default on your payment obligation, you will be charged with compensation for late payment (Ta’widh).
DO I NEED A GUARANTOR/SECURITY/COLLATERAL?
The Guarantor as surety shall be liable to BPMB as creditor for the default committed by the Customer being the principal debtor.
DO I NEED TAKAFUL FOR THE FINANCING?
- Yes. Takaful coverage may be required to cover the subject matter of BPMB’s financing e.g. project, shipping, building etc.
- BPMB’s may be named as the loss payee/beneficiary in the Takaful policy.
- BPMB may take the Takaful as part security via Assignment of Takaful Policy pursuant to the financing granted by BPMB.
WHAT DO I NEED TO DO IF THERE ARE CHANGES TO MY CONTACT DETAILS?
It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner.
WHERE CAN I GET FURTHER INFORMATION?
If you have any enquiries, please contact us at:
Level 26, Menara Bank Pembangunan,
Jalan Sultan Ismail, Kuala Lumpur.
If your query or complaint is not satisfactory resolved by us, you may contact Bank Negara Malaysia LINK or TELELINK at:
Block D, Bank Negara Malaysia
Jalan Dato’ Onn, 50480 Kuala Lumpur
Fax: +603 2174 1515
IMPORTANT NOTE :
LEGAL ACTION MAY BE TAKEN AGAINST YOU IF YOU DO NOT KEEP UP PAYMENTS ON YOUR FINANCING.
The information provided in this disclosure sheet is updated on 30 September 2020.