Bridging-i

Bank Rakyat's Bridging Financing-i allows customers to purchase land for development based on Shariah principal. The package offers customers up to 50% financing of land cost, thus allowing companies to utilize their available funds for other purposes. Bridging Financing-i is based on Bai' Al-Istisna which is similar to Murabahah except the subject matter of sale is to be constructed or manufactured, and payments are made in stages to facilitate the progress. Eligibility : All business entities such as private limited companies and co-operatives. Concept : Tawarruq Purpose : To purchase land for project and to finance development of project. Margin : Up to 50% of land purchase price Up to 40% of development cost, Up to 60% of total development cost. Tenure : Maximum 6 months upon project completion