1. What is MBIBG - Guaranteed Islamic Investment Note GN-i (Term Financing)
MBIBG is one of the monthly payment products under the Guaranteed Islamic Investment Note GN-i (Term Financing) family. In terms of structure, it resembles the currently available Guaranteed Investment Note (MBBG) with the main difference in that it adheres to Shariah principles. It is targeted to SME's with concerns for Shariah compliant financing.
2. What is the average profit rate for this product?
4 - 8% per annum.
3. What is the payment structure?
Monthly payments of principal and returns earned.
4. Is there an early payment fee?
No, there is no early payment fee for investors.
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.
6. What is the tenure?
7. What is the Service Fee?
2% on principal and returns
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 return 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