Description
Musa’adah Revolving Credit-i is specially designed to finance the working capital needs of our corporate and commercial customers. This facility is offered with a revolving feature that allows business customers to draw and utilise funds as working capital, up to the available financing limit.
Eligibility Criteria for Financing Application
Business
- Limited Liability Partnership (LLP), Private Limited Company (Sdn. Bhd.), Partnership, or Sole Proprietorship must be registered with the Companies Commission of Malaysia (SSM) or the relevant Local Authority (PBT).;
- The business must comply with Shariah guidelines.;
- The company owner must be actively involved in the management and operations of the company.
- The company and its owner(s) must not be blacklisted by any financial institution, must be viable, must have been in operation for at least one (1) year, and must have audited financial reporting.
Owner
- The company owner must be aged 21 years and above, subject to a maximum age limit of 60 years;
- Franchisees and Licensees
- Open to Bumiputera-owned companies only.
- Franchisors and Licensors
- Open to companies registered in Malaysia, including both Bumiputera and non-Bumiputera companies.
Financing Structure
Financing Amount
Up to RM500,000
Financing Type
Islamic Financing Scheme (Tawarruq)
Profit Rate
up to 8% p.a
(Profit rate calculated on a daily rest basis)
Financing Tenure
A flexible tenure of 1, 3, 6, 9, or 12 months, or any other period agreed by Pernas.
Financing Period
Up to 3 years