Fully Secured Bank Guarantee-i (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-i (BG-i).


Types of Guarantee Offered

  • Performance Guarantee
  • Financial Guarantee

Limit

  • BG-i in Ringgit Malaysia (RM) – BG-i limit up to RM5.0 million
  • BG-i in Foreign Currencies – BG-i limit up to RM1.0 million equivalent

Tenure

  • BG-i in Ringgit Malaysia (RM) – no capping
  • BG-i in Foreign Currencies – capped up to 1 year only

Commission

    Performance Guarantee
  • 1.5% p.a. of BG-i amount or RM300 (whichever is higher)

  • Financial Guarantee
  • 1.75% p.a. of BG-i amount or RM300 (whichever is higher)

How to apply

  • Fill up the form completely
  • Submit the completed form with the supporting documents to the nearest Bank Islam’s branches

Benefits

  • Fast approval and fast issuance of BG-i
  • To facilitate and expedite customers’ demand for BG-i especially those with no banking facilities

Eligibility

  • All business entities