Islamic Letter of Credit

Islamic Letter of Credit

Bank acts as per your instructions for your purchases to secure goods and manage payment risks.
Riyad Bank’s Islamic Letter of Credit is a Shari’a compliant method that enables you to import goods on the basis of Murabaha. It facilitates conduct of your import.

  • Secured and fully transparent
  • Offers all the functionalities of the traditional Letter of Credit
  • Convenience to make payment on arrival of documents (Sight LC) or after an agreed time period under Islamic structure.
  • Upon the receipt , the bank sells goods to the importer on Murabaha basis at agreed price including, profit and fees

Please complete the form below and we’ll call you as soon as possible:

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Please complete the form below and we’ll call you as soon as possible:

Existing or New Riyad Bank Client *
Required existing or new client
Company / Establishment Name required
Company Identification required
Company Identification number required Invalid identification number
Turn over required
Company City required
Title is required
Requester Name required
Requester Mobile required Invalid mobile number e.g.: 966569876765
Refresh
Verification required Invalid verification code
 
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Our team will be glad to serve you from 9am till 4:30pm, Sunday through Thursday.

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Overview

Riyad Bank issues Islamic Letters of Credit on behalf of the importer as per the conditions and all information provided such as currency, amount, description of goods, payment type, required document and other terms.

Payment is then made against presentation of satisfactory documents which follows by Riyad Bank selling the imported goods to the client.

  • Issued on the basis of Murabaha
  • Offers all the functionalities of traditional Letter of Credit
  • Secures and binds the “sale” strictly to the agreement