1. What is MBISG - Guaranteed Islamic Investment Note (Bullet Financing)
MBISG is one of our bullet payment products under the Guaranteed Islamic Investment Note family. In terms of structure, it resembles the currently available Guaranteed Investment Note (MBSG) with the main difference in that it adheres to Shariah principles. It is targeted to SMEs with concerns for Shariah compliant financing.
2. Will there be a collateral for this product?
No. Instead, this product will be guaranteed by an appointed company (Guaranteeing Entity).
3. What is the average returns rate for this product?
4 - 8% per annum.
4. What is the payment structure?
Bullet payment, where principal and profits will be paid at the end of the financing tenure. The Issuer will have the option for early payment, with no early payment charges. The profit charged is calculated on a daily basis.
5. Is there compensation for late payment?
The Issuer will be charged late payment charges which consist of ta’widh (compensation) at the rate of 1% p.a. for any overdue payment before the expiry of Maturity Date. For any overdue payment after the Maturity Date, the late payment charges which consist of ta’widh and gharamah (penalty) may be charged on the overdue payment.
7. What is the Service Fee?
The Service Fee charged is 30% on profit earned.
8. What happens in a case of Delinquency / Default?
When the Issuer misses the payment (≥ 15 days past due (DPD), the Guaranteeing Entity will step in and repay the principal and returns due to Investors. The rights to claim of debt from the Issuer will then be transferred to the Guaranteeing Entity.
9. What is the minimum investment amount?
Minimum Investment Amount: RM100