Islamic Letter of Credit
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Islamic Letter of Credit
Riyad Bank acts as per your instructions for your purchases to secure goods and manage payment risks.
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Benefits
Issued on the basis of Murabaha.
Offers all the functionalities of traditional Letter of Credit
Secures and binds the “sale” strictly to the agreement.
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.
Apply Online - Islamic Letter of Credit
Please complete the form below
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A representative from Riyad Bank will contact you to complete your request.
Keeping in mind that a current account is required to obtain any product or service from Riyad bank, if you do not have one yet, you can open an account from here
Need help?
Riyad Line: 800 124 2225
