Islamic Commercial and Industrial Property
What is it?
Purchase of eligible portfolio of Islamic Commercial and Industrial Property Financing (“ICIPF”) granted for the purpose of financing or refinancing the purchase, construction or renovation of factories, warehouses or industrial complexes that are classified under SME financing.
- for the financing or refinancing of the purchase, construction or renovation of commercial and industrial properties;
- originated in accordance with the approved Shariah principles of the AS;
- fully disbursed and amortised;
- not exceed 1 month in arrears at the time of sale;
- has a remaining life which expires on or after the review date;
- secured by a first charge or assignment of rights over the commercial and industrial property; and
- comply with other criteria as per Cagamas' requirements