A Shariah compliant financing facility that offers working capital finance to small and mid-size dealers & vendors of corporate companies (Principal Company) in Pakistan.
All bank charges will apply as per the prevalent Islamic Schedule of Bank Charges.
Bank will purchase goods from Principal Company by appointing customer as its agent. After taking possession of goods (constructive or physical), Bank will sell goods to dealer on deferred payment basis.
In the first phase, Bank will buy finished goods from vendor on spot payment basis. In the second phase, Bank will appoint vendor as its agent to sell the goods to Principal Company as Bank’s agent and bring back sale proceeds.
Terms and conditions apply.