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
- 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