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Global Markets
Money Market Products - Islamic
Hong Leong Islamic Bank together with the expertise of Global Markets offers you a range of Islamic banking products and services to manage your wealth. Our customized financial solutions are tailored to meet your needs.
Special Investment Account - Islamic (SIA)*
An Islamic special investment account that provides a negotiable profit sharing ratio according to Syariah requirements i.e. based on Mudharabah concept (profit sharing). The period of investment is more flexible to suit the investors' cash flow position i.e. overnight onwards.
Key Features
- An Islamic deposit product with computation of profit in accordance with Mudharabah concept (profit sharing) at negotiable rate with minimum placement amount of RM50,000.
- Apply negotiable tenors like REPO from overnight onwards. Profit return to be based on HLISB "r" rate of 12 months and subject to changes on monthly basis and the notification will be on every 16th of the month.
- Premature withdrawal is allowed and the dividend payable shall be based on the actual completed number of days
Who can invest?
Government agencies, Corporate customers, Asset management companies, Other banking institutions, Takaful / insurance institutions, and High Networth Individuals
Acceptance Bills - Islamic (AB-i)
AB-i is usually issued to finance import / export or purchase / sale on "halal" goods or commodity. It is a negotiable instrument, which may be sold to investors. This is an alternate form of short-term investments offered to our customers in place of SIA of less than 1 month.
The AB-i is formulated based on the Syariah contract of murabahah (cost-plus) and bai' dayn (debt trading).
Who Benefits?
- Trade financing facility available to buyers / importers and sellers / exporters.
- Provides a competitive source of working capital that offers flexibility and is complementary to other banking facilities.
- An alternate form of short-term investment available to customers in place of short-term SIA of less than 1 month.
Islamic Negotiable Instruments (INI)*
Islamic Negotiable Instruments ("INI") are structured along the concept of Al-Bai Bithaman Ajil (deferred payment sale) for Negotiable Islamic Debt Certificate ("NIDC-i") and also the concept of Al-Mudharabah (profit sharing) for Islamic Negotiable Instruments of Deposits ("INID-i").
- NIDC-i refers to a sum of money deposited with the financial institution and repayable to the bearer on a specified future date at the nominal value of NIDC-i.
- INID-i refers to a sum of money invested with financial institutions and repayable to the bearer on a specified future date at the nominal value of INID-i plus declared dividend.
- INIs are negotiable and are legally transferable by mere delivery through a depository institution.
Unlike General Investment Account (GIA) - Islamic version of Fixed Deposits (FD), INIs are negotiable and can be sold before its maturity date. If the customer needs to realize cash before the INI maturity, he can sell the NID in the secondary market at the prevailing market rate.
However, the INI cannot be withdrawn prematurely like in GIAs.
* Brought to you by Hong Leong Islamic Bank
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