Letter of Credit:
In order to facilitate imports of customers, IBA offers letter of credit establishment services on Wakalah basis at competitive rates and unmatched service quality. IBA shall open the following types of letters of credit.
Features:
- Non Funded letter of credit
- Funded letters of credit
- Convenient solution for imports
- Convenient method of payment in international trade
- IBA offers LC’s on wakalah basis
- LC can be retired with the following modes:
- Murabaha
- Ijarah
- Diminishing Musharakah
- Convenient solution for imports/Export:
- Murabaha- obliged Import Murabaha
Letter of Credit Facilities
- On Murabahah Basis
- Without Murabahah Basis (particularly in Ijarah and Diminishing Musharkah cases)
- On Jua'la Basis / or on Commission Basis