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FSHFN /2015 PRODUCT DISCLOSURE SHEET (Please read and understand this Product Disclosure Sheet together with the general terms and conditions governing the Commodity Murabahah Overdrafti before you.

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How to fill out the COMMODITY MURABAHAH OVERDRAFT-i - RHB Bank online

This guide provides comprehensive instructions on how to fill out the Commodity Murabahah Overdraft-i form from RHB Bank online. By following these steps, users can efficiently complete the form and ensure they provide all necessary information.

Follow the steps to fill out the Commodity Murabahah Overdraft-i form online.

  1. Click the ‘Get Form’ button to access the Commodity Murabahah Overdraft-i form and open it in the online editor.
  2. Begin by filling out the date field at the top of the form. This indicates when you are submitting the application.
  3. Next, provide your personal details in the designated sections. This includes your full name, NRIC number, and contact information.
  4. In the section titled ‘What is this product about?’, familiarize yourself with the details of the Commodity Murabahah Overdraft-i to ensure you understand the product before proceeding.
  5. Fill in the specifics about the financing you seek. This includes the facility amount, tenure (between 1 to 5 years), and selected currency.
  6. Specify the financing amount you wish to request, ensuring it meets the minimum requirements stated in the form: RM10,000 for individual customers and RM100,000 for non-individual customers.
  7. Indicate the margin of financing and the acceptable collateral, as required.
  8. Review the fees and charges section carefully and input any applicable fees related to your financing request.
  9. Ensure you read through the obligations section to understand your responsibilities if you proceed with this product.
  10. After filling out all necessary sections, review your information for accuracy and completeness.
  11. Once satisfied, save your changes, and proceed to download, print, or share the completed form as needed.

Complete your Commodity Murabahah Overdraft-i application online today to stay ahead in your financial planning.

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The customer then, will sell the commodities to a different supplier to get the required cash(third sale). Is Tawarruq a Murabaha? Tawarruq is the whole financing arrangement to get cash whereas Murabaha is the most common sale contract used between the Bank and the customer (second sale).

Actually, tawarruq is a sale contract, whereby a buyer buys an asset from a seller on deferred payment and subsequently sells the assets to the third party for cash, with a price lesser than the deferred price.

Murabaha agreements may be employed to provide working capital or acquisition financing. A murabaha arrangement entered into for such purposes is known as a commodities murabaha. A transaction known as tawarruq closely resembles the commodities murabaha in function, and the two terms are sometimes used interchangeably.

i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold.

It is a method of sale with a mark-up price whereby the Customer makes payment over an agreed period of time. The underlying asset for the sale transaction between the Customer and the Bank will be a specific tradable Shariah-compliant commodity.

Commodity Murabahah is the purchase of certain specified commodities on a cost plus profit basis (Murabahah) agreed upon by both parties (buyer & seller) and subsequently, the commodity is sold to another commodity trader (third party) with the objective of obtaining cash.

Commodity Murabahah is the purchase of certain specified commodities on a cost plus profit basis (Murabahah) agreed upon by both parties (buyer & seller) and subsequently, the commodity is sold to another commodity trader (third party) with the objective of obtaining cash.

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