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Our LPO financing product is designed for clients of the Bank who require short term (bridging) finance to supply goods on contract or to undertake tendered projects.

Features and Benefits

• Available to all FCB customers with active account operations
• Financing period depends on the term of the LPO but not more than 12 months
• Flexible security requirements depending on the integrity of the company or institution issuing the tender.
• Assignment of all payments through customer’s account at FCB
• Competitive pricing margins
• Clarity of all fees and commissions
• Flexible repayment installments
• Quick processing and disbursement
• Financing available to both personal and business clients
• Possibilities of accessing affordable Insurance cover (Takaful) against fire and burglary for your business as well as household belongings.
• A fully sharia compliant product

Requirements

• The business financing application completed in full (branch level).
• Board resolution approving the Facility request (in the case of a company).
• The Local Purchase Order/Local Service Order duly signed and stamped by the company or institution issuing the tender.
• Pro-forma  invoice or quotation for items/services requested by the contracting/procuring entity
• KYC - Certified copy of PIN Certificate, Certified copy of National identity card, MEMAR