• IMPORTS and EXPORTS
• BANK GUARANTEES
• DEMAND ACCOUNTS
• JOINT INVESTMENT
• SPECIFIC INVESTMENT A/C

Documentary Credits

All Documentary Credit transactions are handled in accordance with the Uniform Customs and Practice or Documentary Credits as published from time to time by the International Chamber of Commerce.

Type of documentary credits offered by the bank:

1. Irrevocable Documentary Credits (Usance / Sight)
2. Back to Back Documentary Credits
3. Revolving Documentary Credits
4. Standby Documentary Credits
5. Transferable letters of credit.

Other Services

1. Amendments to Documentary Credits
2. Documentary Import Bills for Collection.
3. Shipping Guarantees
4. Financing letters of credit

EXPORTS

1. Advising Documentary Credits opened by other banks / branches
2. Confirmation of Documentary Credits opened by other banks / branches (Commission on confirmation of credits is based on the bank /country risk considerations.)
3. Transfer of Documentary Credits.
4. Collection of export bills

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Types of guarantees offered by the bank:

• Financial Guarantee.
• Contract Guarantee.
• Bid Bond.
• Performance Bond.
• Retention Money.
• Advance Payment Guarantee.
• Deferred Payment Guarantee.

Others

• All structured transactions are subject to special fees as appropriate to the complexity, risk profile, and time spent in addition to usual charges.
  
  
• Bank to bank reimbursements (For Correspondent banks only).

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These concern funds deposited for preservation only. The client may withdraw any amount thereof on demand. The Bank is not obliged to pay any profit on such accounts. The customer may not bear any loss.

Features:

• Non profit sharing.
• No restrictions on withdrawals.
• No minimum balances.
• Customer does not bear losses.
• Standing instructions.

Customers availing facilities from the bank to maintain a minimum balance of USD2,000/-
These accounts can be maintained in any freely convertible currency, subject to the approval of the bank.

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JOINT INVESTMENT A/C

Holders of these accounts enter into Mudharaba contracts, whereby depositors are jointly considered as owners of funds while the Bank is considered as Mudharib. The depositors authorize the Bank to select suitable investments and projects. Profits are divided according to prior agreement between the two parties. The loss (if any) shall be by borne by investing depositors, in proportion to contribution (including the Bank's contribution, if any) unless the Bank is negligent or in violation of the terms. Banks are unique in that they deduct administrative expenses from their own share and do not deduct them from the gross income as Mudharaba expenses.

Features:

• Minimum balance as prescribed from time to time.
  
  
• Tenor:
• 3 Months
• 6 Months
• 9 Months
• 1 Year
• 2 Years
  
  
• Entitled to Share in the gross profit according to the arrangement declared by the bank from time to time.
  
  
• Monthly distribution of profit.
  
  
• These accounts can be maintained in any freely convertible currency, subject to the approval of the bank.

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In these accounts, the account holders enter into a specific Mudharaba contract. They select investment channels, that is, commodities, funds managed by the bank, projects, sectors and even countries of their choice to invest in. Only well researched projects are offered for investment.

Features:

• Minimum Investment:
  • In Commodities = USD500,000 (maturity min. 1 week) In Funds
  • Individuals = USD 5,000/-
  • Institutional = USD 250, 000/-
    
    
• Profit is distributed on maturity of each transaction.
  
  
• Bank charges pre-agreed Mudharib commission.
  
  
• These accounts can be maintained in any freely convertible currency, subject to the approval of the bank.

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