Bank Guarantee-i Secured 1:1 (BG-i 1:1)
An irrevocable written obligation issued by the bank to assure payment in case of demand by beneficiary.
This program was introduced with the purpose to simplify and expedite process of approval and issuance of fully secured Bank Guarantee.
Benefits & Features
Types of Bank Guarantee-i
- Performance Guarantee
- Financial Guarantee
- BG-i in RM – no capping
- BG-i in Foreign Currencies – capped up to 1 year only
- Performance Guarantee – 1.5% p.a. of BG-i amount of RM300 whichever is higher
- Financial Guarantee – 1.75% p.a. of BG-i amount or RM 300
- Fast approval and fast issuance of BG-i
- To facilitate and expedite customers demand for BG-i especially those with no banking facility
- Available at all Bank Islam’s branches
Eligibility & Requirements
Eligible to all business entities