Letter of Credit-i (LC-i) is a type of payment method for settlement of domestic and international trade transactions. It is also known as a Documentary Credit.
Over-The-Counter Letter of Credit-i (OTCLC-i) is similar to the normal Letter of Credit-i issued by the Bank except that it is issued at the counters on behalf of those companies and individuals against cash margin or Islamic Term deposit as collateral.
Standby Letter of Credit-i (SBLC-i) is a legal promise (undertaking), made by a Bank (Issuer) on behalf of its customer to cover the Beneficiary as a result of the failure of the customer to perform his/her part of an agreement with the Beneficiary.
Transferable Letter of Credit-i (TLC-i) is a Letter of Credit that specifically states it is transferable and may be made available in whole or in part to another beneficiary (2nd beneficiary) at the request of the 1st beneficiary, usually known as middleman.
Letters of Credit issued by unfamiliar banks located in unfamiliar regions may pose a risk to the exporter.
RHB Islamic Bank facilitates your export transactions by advising Letter of Credit issued by your buyer's banks in your favor. Letter of Credit is advised to you promptly.
Inward Bills for Collection-i (IBC-i) is based on the contract of Wakalah, stipulating an agency relationship where RHB Islamic Bank is appointed to act as an agent on behalf of the Seller's Bank.
Outward Bills for Collection-i (OBC-i) is for the purpose of handling of domestic sales and export documents presented to the RHB Islamic Bank by the seller/exporter to collect payment from the buyer/importer through Collecting Bank.
Bank Guarantee-i (BG-i) allows you to expand your businesses or enter into dealings where your counterpart requires BG-i as part of the business arrangement.
Over-The-Counter Bank Guarantee-i (OTCBG-i) is similar to the normal bank guarantee issued by the Bank except that it is issued at the counters on behalf of those companies and individuals against cash margin or Islamic Term deposit as collateral.
Shipping Guarantee-i (SG-i) allows you to obtain the goods from shipping company in the absence of Bills of Lading, which can happen in the event of delay in documents received or documents lost/misplaced in transit.