Business growth is critical for the economic and social development of emerging markets such as ours. MIDF’s role within this spectrum is to assist these businesses in gaining greater access to financing by providing funding for working capital and fixed assets in fulfilling their growth ambitions.
We offer high margin of financing, at fixed profit rates free of any BLR movements, which translate into fixed financing costs for you.
SMEs in the manufacturing sector and its related services, as well as those in the service sectors (excluding insurance and financial services), are able to expand capacity by acquiring industrial or commercial land, as well as construct their own factory or business premises.It can also be used to acquire ready made factories or business premises, and for renovation or upgrade of business premise and retail outlets.
This facility is designed for local companies either SMEs or Non-SMEs in manufacturing and its related services, as well as those in the service sector.
It covers purchase of raw materials, consumables, expenditure on advertising and promotional costs such as media advertising, e-commerce website development and printing of promotional materials.It also covers receivable financing i.e. Islamic sales revolving credit and factoring.
Client Charter and Client Charter Achievement
We, at Development Finance Division (DFD), pledge to provide exemplary services to our Customers through these commitments:
- Evaluate all applications for financing facilities with fairness and without prejudice, in accordance with the applicable statutory requirements, as set forth by the relevant authorities.
- Treat all parties with courtesy, understanding, respect and sincerity.
- Endeavour to provide the most suitable available financing facility to match the financial requirements of our customers.
- Process the application for financing facilities upon receipt of all the necessary documents/information and communicate the outcome of the application in a timely manner.
- Disburse promptly all approved facilities upon request by our customers with proper and complete documentation.
- Ensure that the asset/property/documents/information submitted to us or kept in our custody will be protected, in terms of its integrity and secrecy.
- Attend to any queries or feedback in a prompt and courteous manner.
- Inform the public on the latest developments of DFD and the available financing schemes.
|Jan - Mar 2016||Apr - June 2016||July - Sept 2016||Oct - Dec 2016|
30 days – Decision for loan application.