MFT – Murabaha for traders
Today there are many SMEs across the States of the federation that are profitable and need financing support from banks but because of the requirements to fulfill, especially provision of collateral, a lot of them cannot meet up. Also, some of the SMEs only require short term funding of not more than 90 days to finance their transactions. The Murabaha for Traders (MFT) is available to TAJBank customers in trade, wholesale and retail businesses with short sale cycles i.e. customers with high sales frequencies and customers with short or quick working capital cycle.
Target Market: The target market are traders, retailers, and wholesalers with short or improved sales turnover ranging from daily/weekly turnover period. Petroleum products, BDCs and financial services businesses/agents are excluded.
Minimum facility amount: N500,000.00 Maximum facility amount: N5,000,000.00. Maximum of N10 Million can be considered for repeat customers i.e. 3rd request.