Notification

Notification on changes to Standard Terms and Conditions Governing Islamic Financing Facilities and FAQ on Financing Documents (applicable to individual customer only)

 

Standard Terms and Conditions Governing Islamic Financing Facilities

Please be informed that our Standard Terms and Conditions governing Islamic Financing Facilities (“STC - Islamic”) which forms part of the letter of offer for Islamic financing facilities to our customers, has been revised and will take effect from 5th August 2019.

The following main clauses in our STC - Islamic have been amended and revised:-

  1. Deletion of Clause 1.3;
  2. Amendment to Clauses 1.6, 1.16, 1.18 & 1.19;
  3. Deletion of Clauses 1.22, 1.23 & 1.24;
  4. Amendment to Clause 2 (Additional Conditions Precedent If Security is Property);
  5. Insertion of Clause 4 (Financial Crime Representations and Warranties);
  6. Amendment to Clause 6 (If Security Is Stocks and Shares);
  7. Amendment to Clause 7 (Conversion of Islamic Foreign Currency Facility);
  8. Amendment to Clause 8 (Prepayment);
  9. Amendment to Clause 10 (Profit/Commission/Fees/Charges (Where Applicable));
  10. Amendment to Clause 11 (Anti-Money Laundering, Anti-Terrorism Financing or Proceeds of Unlawful Activities);
  11. Amendment to Clause 13 (Change in Constitution);
  12. Amendment to Clause 15 (Events of Default);
  13. Amendment to Clause 18 (Costs and Expenses);
  14. Amendment to Clause 20 (Right to Debit);
  15. Amendment to Clause 21 (Right of Set-Off);
  16. Amendment to Clause 23 (Indemnity);
  17. Amendment to Clause 24 (Currency Indemnity);
  18. Amendment to Clause 25 (Market Disruption);
  19. Amendment to Clause 26 (Circumstances Beyond our Control);
  20. Amendment to Clause 27 (Increased Costs);
  21. Amendment to Clause 29 (Disclosure of Information);
  22. Amendment to Clause 31 (Data Protection);
  23. Amendment to Clause 32 (Compliance with FATCA);
  24. Amendment to Clause 35 (Notices);
  25. Amendment to Clause 36 (Service of Legal Process);
  26. Insertion of Clause 46 (Assignment);
  27. Deletion of the definition for FATCA Exempt Party, FATCA Deduction and US Person; and
  28. Insertion of new definition for Vendor.


Please click here for a copy of the revised STC - Islamic.

 

Financing Documents

Please click here for our FAQ on the (a) Home Financing Documents; and (b) Documents pertaining to property charged / assigned to the Bank.

 

For any queries, please contact any of our Loan Service Centres below or your account branch:
Pudu Loan Service Centre: 03-9221 0068
USJ Taipan Loan Service Centre: 03-5565 2060
Klang Loan Service Centre: 03-3361 2000
Puchong Loan Service Centre   : 03-8062 0021