Objective
Building upon the existing vehicle financing options provided to individual/retail customers, Bank Muamalat Malaysia Berhad (BMMB) now offers vehicle, commercial truck, and equipment financing to business entities/commercial customers.
Product
- Muamalat Hire Purchase-i Financing (MHP-i)
- Muamalat Industrial Hire Purchase-i Financing (MIHP-i)
- SHARIAH CONCEPT Al-Ijarah Thumma Al-Bai (AITAB)
Eligible Business Entities
- Sole-Proprietorship, Partnership, Public/Private Limited Company.
- Association, club and co-operatives society, Trustee.
- Professional bodies (doctor/lawyer), and state government.
- At least 51% shares held & controlled by Malaysian Citizen.
Years of Business
- Has been in operation for a minimum of 3 years (including conversion/upgrade from soleproprietor and partnership under similar business activities)
- The key person must have a minimum of 3 years of experience in a business of similar nature.
Restricted Business/Applicant
Business activities not comply to shariah
Type Of Asset/Motor Vehicle/Equipment
- Car, 4×4, Bus, Taxi
- Commercial Vehicle
- ICT Equipment, Other Plant and Machinery
Application Type
- Normal application (immediate acquisition for single or multiple units)
- Blanket line facility (immediate acquisition/for project/fleet owners)
Takaful/Insurance
Recommended customers to take Takaful protection on the asset/equipment with Bank Muamalat Malaysia Berhas as HP owner and with acceptable sum insured.
Financing Coverage
Whole Malaysia
Type Of Profit Rate
Flat Rate/Fixed Rate
* Terms and conditions apply
