MURABAHA IMPORT BILL (MIB)

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MURABAHA IMPORT BILL (MIB)

Shariah-Compliant Post-Import Financing for Your Business

IFIC Islamic Murabaha Import Bill (MIB) is a Shariah-compliant post-import financing facility designed for Corporate and SME customers to support the retirement and settlement of eligible import bills under Letter of Credit (L/C).

Under MIB, IFIC Bank settles the eligible import obligation, takes ownership/constructive possession of the imported goods and subsequently sells the goods to the customer at a pre-agreed Murabaha sale price comprising cost plus disclosed profit.

Key Benefits

  • Shariah-compliant post-import financing
  • Supports retirement/settlement of eligible import bills under L/C
  • Helps businesses meet short-term post-import financing requirements
  • Facilitates timely settlement of import obligations
  • Murabaha cost and profit are clearly disclosed
  • Agreed Murabaha sale price remains fixed once determined
  • Early settlement may be considered subject to Bank approval and applicable terms
  • No separate service charge

Product Highlights

Customer Segment: Corporate & SME
Facility Type: Post-Import Financing
Currency: BDT
Tenor: Up to 1 month
Purpose: Retirement/settlement of eligible import bills under L/C

Suitable For

MIB is suitable for eligible Corporate and SME importers requiring short-term financing to settle import bills where the underlying import transaction and goods comply with applicable Shariah and Bank requirements.

How It Works

  1. The customer imports eligible goods under an approved L/C.
  2. Upon receipt of compliant import documents, IFIC Bank settles the eligible import bill.
  3. The Bank takes ownership/constructive possession of the goods.
  4. The goods are sold to the customer under Murabaha at an agreed cost plus disclosed profit.
  5. The customer settles the agreed Murabaha sale price within the approved tenor.

Know More

To know more, visit your nearest IFIC Bank Branch or Uposhakha, or call 16255 today.

Terms and conditions apply. Financing is subject to eligibility, credit assessment, Shariah requirements, applicable regulatory guidelines and IFIC Bank’s policies.