1. What is this product about?
    Ijarah Muntahiyya Bittamleek (BITTAMLEEK) Consumer Product Financing allows you to purchase consumer durable goods through any authorised vendors of BIBD At-Tamwil Berhad, with an affordable monthly rental.
  2. What do I get from this product?
    Finance Tenure
    • Minimum tenure is 6 months and up to maximum tenure of 60 months
    • Minimum tenure is 6 months and up to maximum tenure of 24 months for mobile phones financing.
    Annual Profit rate (APR)
    8.00% p.a
    Total Amount Finance
    • Up to a maximum Total Debt Service Ratio (TDSR) of 60% for those with net income of BND 1,750.00 and above.
    • For those with net income below BND 1,750.00 shall be subject to BIBD At-Tamwil Berhad's policy.
    Inspection of consumer product finance
    Not Required
    Upon successful application, BIBD At-Tamwil will send the following documents to the customers: -
    1. A copy of signed BITTAMLEEK Agreement.
    2. A copy of Summary of Financial Obligations under proposed BITTAMLEEK Contract Agreement relating to the collaterals which include cash price of the goods, terms charges, rate per annum, total amount customer will have to pay, monthly rental amount and rental period;
    3. A payment Schedule that provides information such as Account Number, Registration Number, Approved Principal Amount, Tenure, Annual Profit Rate (APR), Commencement Date, Principal Opening Balance, Profit Charged, Principal Payment, Principal Closing Balance and Due date.
  3. What is the Syariah concept applicable?
    This financing is based on the concept of Ijarah Muntahiyya Bittamleek (leasing ending with ownership), whereby BIBD At-Tamwil Berhad will purchase consumer goods selected by customer for the purpose of leasing the goods with an agreed tenure and rental amount. On a separate contract, BIBD At-Tamwil Berhad will promise to give “Hibah” or gift (transfer of ownership) the said goods to the customer, subject to the full payment of the agreed rental amount.
  4. Do I need takaful coverage?
    Yes, for financing amount $1,000.00 or above and/or hirer of the age of 50 years old or above during application or upon financing maturity. You can contribute or subscribe to a Consumer Financing Protection (CFP) at any of our Sales Counters. The CFP will protect your financing in the event of death by settling your outstanding obligations with BIBD At-Tamwil Berhad. The CFP contribution is only payable once and it will cover the entire financing period. The CFP is provided by our authorised Takaful Company.
    You may choose whether to contribute or subscribe directly from our authorised Takaful Company or at our operation counter or to include the CFP amount in your BITTAMLEEK Consumer Product Financing.
  5. What documents do I need to submit to apply for this product?
    The documents required for this application are as follows:
    • Original Copy of Quotation from Authorised Vendor
    • Original and valid identity card;
    • Original and valid driving license (where necessary);
    • Original and valid latest salary slip;
    • Latest bank statement;
    • Confirmation of Salary/ Pension/ Service Contract (where applicable)
    • Business Registration Certificate (where applicable)* and
    • Any other supporting documents necessary for our verification.
    *Subject to BIBD At-Tamwil Berhad's assessment of the company's/customer's employment profile.
Product Disclosure Sheet
Please read this Product Disclosure Sheet before you decide to take BITTAMLEEK Consumer Product Financing.
Authorised Consumer Product Financing Vendors
Please check our authorised vendors here.