Sell and Buy Back Agreement-i (SBBA-i) is an Islamic repurchase agreement (Islamic Repo) transaction whereby AmIslamic Bank (SBBA-i seller) sells Islamic Money Market instruments at an agreed price to the customer (SBBA-i buyer) and subsequently the SBBA-i buyer and SBBA-i seller enter into another agreement thereon whereby the former promises to sell and the latter to buy back the securities on a specified future date and at an agreed price.
This transaction is based on Wa'ad (Binding Promise) concept
Elegibility
Corporate
Financial Institutions
Features
Short term investment
Minimum placement: RM50,000.00
Tenure: 1 to 365 days only
Traded on price
Auto renewal/rollover: AmIslamic Bank to provide a two-way quotation to indicate its willingness to extend into a new sale and repurchase agreement at rates specified on a regular basis
Flexible investment period based on agreed no. of days, including overnight placement
No penalty charges should the customer wants to redeem early, but a new purchase contract/advice will be given
Benefits
Syariah compliance trading of money market instruments
Flexible investment period
Attractive short term investment
Only available through our Group Treasury Head Office. Please contact us at 03-2070 4070/03-2078 2759
