Pubali Bank Islamic Banking offers various import finances to import raw materials, capital machinery and other permissible products/goods from abroad. They are as follows:
Letter of Credit (L/C):
We open letter of credit for Importer Clients under the Shari`ah principles of Wakalah and Kafalah.
Shari`ah Principles of LC Opening
- Wakalah L/C: The L/Cs covered by margin are opened under the Shari`ah principle of Wakalah.
- Kafalah L/C: The L/Cs without margin are opened under the Shari`ah principle of Kafalah.
Murabaha Post Import (MPI-TR):
MPI stands for Murabaha Post Import, i.e. Murabaha trade for procurement of goods by importation. In other words, it is Bai Murabaha by import.
Purpose
Investment for purchase and sale of goods to an Importer client as an import financing.
Tenure
The period of MPI (TR) may be 30, 60 or 90 days, or as allowed by the Head office in the light of circulars issued by Bangladesh Bank.