Letter of Credit
A Letter of Credit is a commitment by a bank on behalf of a customer to pay a stated amount of money under specified conditions to a beneficiary.
How does it work?
In order to facilitate imports of customers, IBA offers letter of credit establishment services on Wakalah basis at competitive rates and unmatched service quality.
Through Letter of Credit, IBAFG will offer its clients services based on:
- Letter of Credit
- Convenient solution for imports
- Convenient method of payment in international trade
- IBA offers LC on wakalah basis
- LC can be attained fromthe following ways:
- import murabaha
- diminishing musharakah
LC can be retired with the following modes:
How will it benefit you?
- Convenient solution for imports / Export: Murabaha- obliged Import Murabaha
- Through our LC service, it offers you a platform to agree on trade terms and efficient payment arrangement
To whom it is offered?