BRANCH & ATM LOCATOR
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Your trust and reliance on us are well-placed. Our commitment extends to a transparent and beneficial process in which we engage with the international market on your behalf to buy commodities or metal from the broker on spot rate basis, then we will sell them to you at forward rate. You then appoint the Kuwait Finance House (formerly Ahli United Bank) as an agent to sell the commodity on your behalf in the international market.
What is the maximum facility amount under Tawarruq Commodities product?
Subject to Kuwait Finance House (Formerly Ahli United Bank) assessment and review.
Can Tawarruq Commodities product support medium or long-term financing?
Yes, the Tawarruq Commodities product is flexible in term of financing period depending on financing requirements and Kuwait Finance House (Formerly Ahli United Bank) assessment and review.
- The sale price of Tawarruq remains the same during the contract period.
- The value may be paid on a monthly basis, every three months, every six months or in one payment.
- The product is used to cover the company's short-term working capital requirements.
- Audited financial statements and cash flow statements for the last three financial years.
- New evaluation of collateral, if any.
- Your legal documents.
- Official facility request form.
- Price: Fixed price (Central Bank discount rate +%)
- The client should provide a recent assessment of collaterals, which shall be assessed on an agreed periodic basis, if any.
- Collaterals must be insured under a Shariah-compliant insurance policy, if any.
- Granting facilities is subject to Kuwait Finance House (Formerly Ahli United Bank) evaluation and internal approvals.
- Kuwait Finance House (Formerly Ahli United Bank) may reconsider its margin of profits on any financing transaction with credit facilities, provided that the Kuwait Finance House (Formerly Ahli United Bank) informs the client of the new profit margins.
- The client shall disclose to Kuwait Finance House (Formerly Ahli United Bank) all the parties associated with it economically or legally pursuant to the definition contained in the instructions of the Central Bank regarding the maximum limits of credit.
