Under this product, the Bank acts as the agent of the customer willing to import goods and services. The customer/importer deposits the full amount of the Letter of Credit to cover the import transaction. This will enable the Bank establish the Letter of Credit. The Bank then makes payment in favour of the exporter, using the client’s deposit, upon shipment of goods and submission of stipulated documents by the exporter. Under this arrangement, the Bank charges a fee/commission (Ujrah) for its Agency services.