Naqd Financing

Keeping you sheltered on rainy days

Features & Benefits

  • Obtain financing up to 18 times your net monthly income
  • Spread out your monthly payments over 12 months
  • A maximum Total Debt Service Ratio (TDSR) of 60% for those with net income of BND 1,750.00 and above
  • For net monthly income of below BND 1,750.00 - subject to Bank's policy (please enquire our Personal Banker)
  • *Applies to both new or renewal of overdraft facility
  • Shariah Concept
    • The Shariah concept applicable is Tawarruq
    • Tawarruq, also known as Reverse Murabahah, refers to the process of purchasing a commodity for a deferred price determined through Musawama (bargaining) or Murabaha (mark-up sale), and selling it to a third party for a spot price so as to obtain cash.
    • When this is applied to an overdraft facility, the Customer can draw funds in excess of his account balance. Customer may receive a refund on any un-withdrawn funds. Naqd is typically used for short-term financing.
  • Eligibility
    • Brunei Citizens, Permanent Residents and Foreigners*
    • Individuals between the age of 18 and 65 years**
    • Employed with Brunei Government, Semi-Government or private companies approved by BIBD including self-employed individuals

    *Requires valid VISA or Employment pass.

    **The maximum age of Customer is 55 years if the Customer is not receiving TAP, 60 years if the Customer is receiving TAP and not exceeding 65 years at the time of expected financing maturity.

    The final entitlement shall be subject to BIBD’s internal credit policies and assessment.

  • Required Documents


    • Original copy of Identification Card
    • Original copy of latest Salary Slip
    • Letter of Confirmation (Salary / Pension / Service Contract)
    • Statement of Account with other Financial Institutions (where applicable)
    • Business Registration Certificate (where applicable)*

    *Subject to BIBD’s assessment of the company’s/customer’s employment profile.

  • Fees and Requirements

    For more details, please refer to the Bank's Schedule of Tariffs or the list of applicable rates for this product.

    Please read this Product Disclosure Sheet before you decide to take the Naqd Financing. Be sure also to read the General Tawarruq Terms and Conditions of Sale.


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