Trade Finance and Corporate Operations Charges
All charges below are inclusive of VAT (*****). Refer to http://www.emiratesislamic.ae/eng/vat-notice/
Import LC Issuance Commission
| Upto AED 100,000/ Above AED 100,000/ Minimum |
1.575% p.a.(min 3 mths) 0.7875% p.a. (min 3 mths) AED 367.50 |
| Revolving LC Minimum |
1.575% p.a. (min 3 mths) AED 420.00 |
| Back to Back Minimum |
Same as LC issuance Com (min 3 mths) AED 682.50 |
| Standby LC Minimum |
1.575% p.a. (min 3 mths) AED 420.00 |
| Amendments Enhancement/Extension
Minimum |
Same as relevant LC Issuance Commission (inc min 3 mths) AED 315.00 |
| Misc amendments | AED 262.50 |
| Withdrawl of LC processed not issued | AED 157.50 |
| Cancellation after issuance (Amendment) | AED 262.50 |
| Draft of LC to client | AED 157.50 |
| Reinstatement of Expired LC | Same as relevant LC Issuance Com (min AED 315) |
Import LC Bills
| Acceptance of Usance Bills under LC (Acceptance to Maturity) | 1.89% p.a. (Acceptance to Maturity) Min AED 315 |
| Handling Com (LC available with EI + received from non nominated bank) | 0.13125% flat (Min AED 315) |
| Handling Commssion Other documents (Processing Fee) | AED 105 flat Each Bill |
| Reimb/Payment Charges Import LC | USD 105/AED 388.50 (Including Swift) |
| Discp Charges | USD 141.75/ AED 525 (Including Swift) |
| Documents received after expiry under Import LC's | Same as relevant LC Issuance Com (Min AED 262.50) |
| Commission on overdrawn LC amount | 1.575% p.a. (min 3 months) Min AED 315 |
| Payment acceptance tracers - Responses | AED 131.25/ USD 36.75 |
| Leg Service charge | AED 26.25 per Bill |
| Safe Custody charges unpaid/unaccepted disc docs - Import LC | AED 262.50/ PM (after one month from date of receipt of such bills) |
| Docs if returned unpaid /unaccepted | AED 262.50 / USD 72.45/ + Courier (o/a Ben) |
| Fee for Issuance of Managers cheque for agents commission | AED 262.50/ per cheque |
| Payment Fee for Agents Comm thru FTS | AED 210/ per FTS |
| Commission in Lieu of Exchange* | 0.2625% flat(Min AED 210) / Not applicable for Hedged Deals |
Shipping Guarantee
| Issuance of Shipping Guarantee / Delivery order | 0.13125% flat (Min AED 420) |
| Shipping Guarantee / Delivery order outstanding after one month | 0.13125% p.m. (Min AED 210) |
Import Collection
| Bill Handling com - DP/DA ** | 0.13125% flat on bill amnt (Min. AED 262.50) |
| Acceptance Processing Fees | AED 105 + SWIFT Charges |
| Bills delivered on Free of Payment Basis | 0.13125% flat (Min AED 262.50) |
| Bills returned unaccepted/unpaid | 0.13125% flat Min AED 262.50 + Courier + SWIFT chgs o/a bene |
| Transfer of Documents ** | AED 210 + Courier/Swift |
| Amendment of Collection instructions ** | AED 157.50 |
| Avalisation of IDC - In addition to Handling/Settlement/Acceptance ** | 1.89% p.a. Min 3 months (Min AED 315) |
| Adm fee on documents held unpaid / unaccepted after one month of sight or after due date | AED 262.50 p.m. |
| Pre/Part settlement fee | AED 105 for each settlement |
| Reimb/Payment Commission | USD 105 / AED 388.50 |
| Commission in Lieu of Exchange * | 0.2625 % flat (Min AED 210) / Not applicable for Hedged Deals |
Export Collections
| Handling Charges Collection ** | 0.13125% flat (min AED 315) |
| Amendment Fee Collection ** | AED 105 + SWIFT Charges |
| ODC Docs returned unpaid | AED 105 |
| Unpaid doc for more than 1 month (Sight or Due date) | AED 157.50 |
| Handling and despatch of revised /additional docs under Collection | AED 262.50 + Courier |
| Non submission of copy documents for file | AED 105 |
| Payment / Acceptance Tracer | AED 131.25/USD 36.75 |
| Commission in Lieu of Exchange * | 0.2625 % flat (Min AED 210) / Not applicable for Hedged Deals |
Exports L/C Advising
| LC advising Customer Non Customer |
AED 315 AED 367.50 |
| LC amend advising Customer Non Customer |
AED 210 AED 262.50/USD 73.50 |
| Advising LC/Amd to another Bank (2nd Advising Bank) | Local AED 315/ AED 210 + courier / SWIFT |
| Confirmation Chgs (Min 3 months) *** | Case by Case (Min AED 525) |
| Silent Confirmation *** | Case by Case (Min AED 525) |
Transfer LCs
| Transfer | 0.13125% of DC Value flat, Min AED 787.50 |
| Transfer Amendment (Increase) | 0.13125% flat of incremental transfer value (Min AED 420) |
| Transfer Misc amendments | AED 315 |
| Documents Processing/Negotiation commission DC | 0.13125% flat (min AED 315) |
Export LC Bills
| Acceptance com on Confirmed LC (Acceptance - Maturity) | Case by Case (Min AED 315) |
| Documents Processing/Negotiation commission DC | 0.13125% flat (min AED 315) |
| Commission on documents fwd to nominated bank for Neg | 0.13125% flat (min AED 315) |
| Discp handling charges | AED 210 / flat |
| Reimbursement per claim | USD 105 / AED 388.50 |
| Assignment Fee ** | 0.13125% flat (min AED 420) |
| Handling and despatch of revised /additional documents under LC | AED 262.50 |
| LC Disc Docs returned | AED 210/ USD 57.75 + Courier |
| Pre examination of copies of documents under DC and advising of our observations / suggestions | 0.105% flat of the bill value (Min AED 262.50) |
| Non submission of copy documents for file (per bill) | AED 105 |
| Payment / Acceptance Tracer | AED 131.25/USD 36.75 |
| Commission in Lieu of Exchange * | 0.2625 % flat (Min AED 210) / Not applicable for Hedged Deals |
Financing
| Processing fee / Commission | |
| - Our own Acceptance | 0.13125% Flat (Min AED 210) plus Brokerage |
| - Advance payment(Open AC) Wakala/Istisna | AED 210 |
| - Open AC - Liquidity Financing | AED 525 plus Brokerage |
| - Murabaha Processing Fee | AED 210 |
| - Murabaha Prepayment Partial/Full | AED 105 |
| - Export bills | 0.13125% Flat or as agreed with the customer (Min AED 210) plus Brokerage |
| - PPC/Invoice/PDC etc (R/F) | 0.13125% Flat (Min AED 210) plus Brokerage |
| - Liquidity Financing / Roll-overs | AED 525 plus Brokerage |
| - Brokerage | USD 315 / USD Mill |
Guarantees
| Fixed Expiry Guarantee Minimum |
2.10% p.a. (min 3 mths) AED 420.00 |
| Open Ended / Auto Renewable Guarantee Minimum |
2.621% p.a. (min 3 mths) AED 525 |
| Counter Guarantee Minimum |
2.10% p.a. (min 3 mths) AED 420 |
| Guarantee issuance at the request of other Banks | As per arrangement with correspondent banks |
| Labour Guarantees **** | 2.10% p.a. (Min AED 315) |
| Extension/Enhancement | Same as Guarantee Issuance (min AED 315) |
| Reduction in Guarantee value | AED 315 |
| General Amendments | AED 315 |
| Other Charges - Settlement of Guarantee claims - Handling of third party Guarantee claims |
AED 315 AED 525 plus Brokerage |
| Advising Correspondent Bank Guarantees & Amendments - Customer - Non Customer |
AED 315 AED 367.50/ USD 105 |
| Withdrawal of Guarantee prior to Issuance | AED 315 |
| Reinstatement of Expired Guarantees | Same as Guarantee Issuance + AED 262.50 |
| Reissuance of Guarantees | AED 262.50 |
Transmission
| LC SWIFT (MT700) | AED 367.50 / USD 105 |
| LC Mail Charges including courier chgs | AED 157.50/ USD 42 |
| LC Amd SWIFT (MT707) | AED 157.50 / USD 42 |
| LC Amd mail | AED 105 / USD 31.50 |
| Additional charges for non standard LC with long clauses | AED 105 |
| Additional charges - for LC over 4 pages - Amend over 1 page |
AED 52.50/ per page in excess of 4 pages |
| LC SWIFT Transferable LC (MT720) | AED 367.50/ USD 105 |
| LC Amnd SWIFT Transferable LC (MT707) | AED 157.50 / USD 42 |
| Guarantee SWIFT (MT 760) | AED 315 |
| Guarantee Amendment SWIFT (MT 767) | AED 157.50 |
| SWIFT charges General | AED 157.50 / USD 42 |
| Courier - Local - International |
AED 105 / USD 31.50 AED 210 / USD 57.50 |
Misc
| Request for photocopy of documents | AED 105 Less than 1yr old. AED 210 more than 1yr old |
| Personalised advice from CDCS | Free |
| LPO Issuance charges | AED 262.50 |
| RTA Charges for Vehicle Financing | AED 100/ per Vehicle |
| TT Payments - Local | AED 52.50 |
| - International | AED 105 |
| Manager's cheque for supplier payment(Murabaha/Ijara) | AED 157.50 |
| MIS information as per client's request | AED 52.50/- per set of information or on a case to case basis depending on the nature of the information sought. |
Charges for overdue bills/Murabaha
| Processing fee for Transfer of Murabaha/Bills to Past Due + Extension | AED 210 / USD 57.50 |
smartTrade Trade Finance Charges
| Import LC Issuance Commission | |
| Upto AED 100,000/ | 1.575 % p.a.(min 3 mths) |
| Above AED 100,000/ | 0.7875 % p.a. (min 3 mths) |
| Minimum | AED 157.50 |
| Misc amendments | AED 157.50 |
| Import Collection | |
| Bill Handling Commission - DP/DA ** | 0.13125 % flat on bill amnt Min. AED 157.50 |
| Financing | |
| Processing fee / Commission - Murabaha Processing Fee |
AED 157.50 |
| Guarantees | |
| Fixed Expiry Guarantee Minimum |
1.575 % p.a. (min 3 mths) AED 157.50 |
| Open Ended Guarantee Minimum |
2.10 % p.a. (min 3 mths) AED 157.50 |
| Extension/Enhancement | Same as Guarantee Issu (min AED157.50) |
| Reduction in Guarantee value | AED 157.50 |
| General Amendments | AED 157.50 |
| Transmission | |
| LC SWIFT (MT 700) | AED 157.50 |
| LC Amd SWIFT (MT 707) | AED 157.50 |
| Guarantee SWIFT (MT 760) | AED 157.50 |
| Guarantee Amendment SWIFT (MT 767) | AED 157.50 |
* Charged on FCY payments not involving foreign exchange
** EIB reserves the right to charge @ 0.2625% of the Bill Value or at higher rate (subject to a minimum of AED 1050) for certain markets.
*** Confirmation charges of export LCs will be based on our assessment of risks in dealing with specific banks in specific countries. Details available upon request.
****Additional charge of AED 26.25 per labourer and AED 3.15 per application is levied for eGuarantees (Max up to 99 labourers or AED 311,850 per application)
***** All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT).
Emirates Islamic reserves the right to transfer any amount collected as fees, commission, charges, etc. to Charity as required to comply with Higher Sharia Authority regulations.