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  • Aitab (Bina Malaysia Bank Berhad)

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    Nur Amin Nor Azmi
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    This document provides information on BMBB-i (AITAB), Bina Malaysia Bank Berhad's Shariah-compliant vehicle financing product. [1] The financing is based on the Al-Ijarah Thumma Al-Bai' concept involving separate lease and sale contracts over an agreed period of up to 9 years. [2] The document outlines the features of the product including the contracting parties, their rights and obligations, and eligibility requirements. [3] It also provides contact details for Bina Malaysia Bank Berhad for more information.

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    Aitab (Bina Malaysia Bank Berhad) (1)

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    This document provides information on BMBB-i (AITAB), Bina Malaysia Bank Berhad's Shariah-compliant vehicle financing product. [1] The financing is based on the Al-Ijarah Thumma Al-Bai' concept involving separate lease and sale contracts over an agreed period of up to 9 years. [2] The document outlines the features of the product including the contracting parties, their rights and obligations, and eligibility requirements. [3] It also provides contact details for Bina Malaysia Bank Berhad for more information.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    9 views9 pages

    Aitab (Bina Malaysia Bank Berhad)

    Uploaded by

    Nur Amin Nor Azmi
    This document provides information on BMBB-i (AITAB), Bina Malaysia Bank Berhad's Shariah-compliant vehicle financing product. [1] The financing is based on the Al-Ijarah Thumma Al-Bai' concept involving separate lease and sale contracts over an agreed period of up to 9 years. [2] The document outlines the features of the product including the contracting parties, their rights and obligations, and eligibility requirements. [3] It also provides contact details for Bina Malaysia Bank Berhad for more information.

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    © All Rights Reserved
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    of 9

    ISLAMIC BANKING

    PRODUCT
    BMBB-i (AITAB)
    AL-IJARAH THUMMA AL-BAY' (AITAB) VEHICLE FINANCING
    SHARIAH COMPLIANCE VEHICLE FINANCING MADE FOR ALL

    Wan Khadijah 1717022


    Norazrin Aziz 1712214
    Nur Amin Nor Azmi 1717351
    BANKING PRODUCT MODUS OPERANDI
    AND DESCRIPTION

    FEATURES OF PRODUCT
    SHARIAH CONCEPT AND
    CONTRACT

    RIGHTS AND OBLIGATIONS


    OF BANK AND CUSTOMER
    OUR BANKING PRODUCT AND DESCRIPTION
    following all guidelines laid down by BNM

    It is the Islamic version of "conventional" Hire


    Purchase

    whereby the parties enter into a lease contract for


    BMBB-i (AITAB) a specified tenure and subsequently enter into a
    sale contract at the expiry of the lease tenure

    The facility is given to you to part finance the purchase of a vehicle. Upon approval of the facility, an AITAB
    Agreement shall be entered between you as the Hirer and BMBB (the Bank) as the Owner of the vehicle.The profit
    rate for the AITAB facility is calculated based on fixed or variable rate over the tenure of the facility. The tenure of
    the facility shall be up to a maximum period of 9 years only.
    SHARIAH CONCEPT AND CONTRACT

    Al Ijarah Thumma Al Bai (AITAB)

    refers to two contracts; Ijarah and Bai’ contracts, which are


    undertaken separately and consequentially

    Al-Ijarah
    the hirer leases the vehicle from Al-Bai'
    the owner at an agreed rental the hirer may enter into a second
    over a specified period. contract to purchase the goods
    from the owner at an agreed price
    CONTRACTING PARTIES

    Customer Bank
    (Hirer) (Owner) CONTRACT
    Sound of mind
    (AQAD)
    At least 18 years old

    Acceptance must agree


    ASSET RENTAL with offer
    Offer and acceptance
    made in the same
    meeting or session
    Must exist Amount must be
    known by both parties
    Be of some value
    Known in currency and
    Known to both absolute amount
    parties
    MODUS OPERANDI
    Private Limited & Public
    Partnerships
    Limited Companies

    18 years and above Sole proprietorships Up to 9 years

    ELIGIBILITY FINANCING PERIOD

    FEATURES

    MARGIN OF FINANCE TYPES OF GOODS FINANCE


    Up to 90%
    New motor vehicles Secondhand motor vehicles

    Commercial Vehicles (with Commercial Vehicles (with


    BDM not exceeding 5000kg) BDM exceeding 5000kg)
    RIGHTS AND OBLIGATIONS

    BANK HIRER GUARANTOR


    Part 4 of the HPA Section 21, 22 ,23
    & 24 of the HPA
    the right to utilise any credit balance in hirer accounts Right to a copy of a statement relating to liability of a guarantor continues
    maintained with us to settle any outstanding balance in
    financial position notwithstanding that the owner has, taken
    the current financing
    the right to repossess the vehicle right to early completion of agreement possession
    Right to charge on overdue payment right to terminate agreement,right on as the like right in like manner to recover
    repossession by owner moneys if guarantor has paid any
    to pay regular instalments rights of guarantor against the owner
    not to sell or dispose the goods to any his rights against the hirer
    other party
    continue to ensure that the vehicle financed is
    adequately covered
    CONTACT US
    BINA MALAYSIA BANK BERHAD, WISMA BMBB,
    JALAN TUN HS LEE, 50100, WILAYAH
    PERSEKUTUAN KUALA LUMPUR.

    +603-9998888

    bmbb.com

    @bmbb

    customerservice@bmbb.com

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