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Corporate

AMIFC’s financing services stretches over a wide range of products, which are processed through Ijarah, Musawama and Tawarouq contracts; whereby the nature of the contracts drawn up depends on customer’s financial needs.

  • Ijarah:

    • Feet Finance: This is vehicle finance, ideally offered to businesses in the following fields; Taxi, Rental, Transportation Logistics and cleaning services companies.

    • Heavy Equipment: This type of finance completely depends on the needs of a company or individual for the purchase of Heavy Equipment to execute certain contracts. Financing may be local or from foreign suppliers.

  • Musawama

    • Inventory Financing: this is finance granted for the purchase of inventory for the purpose of reselling a finished product. The finance is offered to local and foreign suppliers. Target customers are SME’s with the need of foodstuff, spare parts, construction material, textiles, furniture and so on.

    • Capital Assets Financing: This is financing for durable assets such as production equipment and so on. Targeted customers are companies in the industrial market and production industry.

    • Contracts’ Financing: This type of finance is granted to customers with need to finance specific materials or capital assets to fulfill contract requirements. AMIFC mainly targets SME’s with Government related contracts, as well as the Oil and Gas Sector.

    • Factoring Financing: this is short term asset finance, whereby “invoices” or accounts receivable are financed and sold to a third party.

    • Feet Finance: This is vehicle finance, ideally offered to businesses in the following fields; Taxi, Rental, Transportation Logistics and cleaning services companies.

    • Heavy Equipment: This type of finance completely depends on the needs of a company or individual for the purchase of Heavy Equipment to execute certain contracts. Financing may be local or from foreign suppliers.

  • Tawarouq:

Ideally this type of finance is granted for the sole purpose of stimulating business operations, working capital cycle and so on. SME’s are entitled to such finance.

Corporate Trade Services:

Operating under Islamic Sharia edict, AMIFC offers a range of innovative products that would allow for an efficient and effective management of international trade transactions / business conducts. Between issuing, amending and the financing letters of Credit and financing IBCs, to providing simplified solutions to sponsoring a company’s international trade needs.

To achieve this high level of services provided, AMIFC are equipped with professionals whom are more than qualified and have the aptitude to cater to the complex needs of corporate customers regardless to the size of the business.

Services provided to customers vary and depends solely on their financial needs and goals. AMIFC financing services are sponsored by the Islamic Sharia where Musawama Contracts are offered to finance the various products:

  • Letters of Credit: an LC is a document issued by a buyer’s bank based on the request of the buyer / Applicant, in favor of a seller / beneficiary. This document defines a sum amount of money that would be paid to the seller upon receipt of the trade documents and that the seller complies with the conditions set in the LC.

    • Contracts drawn up will be Musawama contracts; where the documents sent will be addressing AMIFC. Confirmations will then be made with the customer should any be required, then the LC financed.

  • IBCs (Inward Bills for Collection): which is when documents are sent by the seller to the applicant’s bank and based on the customer’s request they are financed.

    • Similar to the LC financing, IBC contracts drawn up will be Musawama contracts; again, documents will be addressing AMIFC. The customer will then confirm their desire to accept to the shipment and the IBC will then be financed.