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 financing or refinancing the purchase, construction or renovation of commercial and industrial properties;
- has arisen in accordance with the approved Shariah principles of the originated selling institution;
- fully disbursed and amortised;
- not more than 1 month in arrears at the time of purchase;
- have a remaining life which expires on or after the Review Date;
- secured by a first charge or assignment of rights over the secured property; and
- comply with other criteria as per Cagamas' requirements