Notification

CONVENTIONAL LOANS

Notification on changes to Standard Terms and Conditions Governing Banking Facilities (applicable to non-individual borrowers only)


Standard Terms and Conditions governing Banking Facilities

Please be informed that our Standard Terms and Conditions governing Banking Facilities (“STC”) which forms part of the letter of offer for banking facilities to our borrowers, has been revised and will take effect from 3rd September 2019.

The following main clauses in our STC have been amended and revised:-

  • Insertion of Clause 4 (Financial Crime Representations and Warranties);
  • Amendment to Clause 7 ( Conversion of Foreign Currency Facility);
  • Amendment to Clause 8 ( Break Funding Cost);
  • Amendment to Clause 16.1 (Events of Default);
  • Amendment to Clause 26 (Market Disruption);
  • Amendment to Clause 30 (Disclosure of Information);
  • Insertion of Clause 45 (Assignment);
  • Deletion of the definition for FATCA Exempt Party, FATCA Deduction and US Person; and
  • Insertion of the definition for Vendor.


Please click here for a copy of the revised STC.

 


ISLAMIC FINANCING FACILITIES

Notification on changes to Standard Terms and Conditions Governing Islamic Financing Facilities (applicable to non-individual customers only)


Standard Terms and Conditions Governing Islamic Financing Facilities

Please be informed that our Standard Terms and Conditions governing Islamic Financing Facilities (“STC - Islamic”) which forms part of the letter of offer for Islamic financing facilities to our customers, has been revised and will take effect from 3rd September 2019.

The following main clauses in our STC - Islamic have been amended and revised:-

  • Insertion of Clause 4 (Financial Crime Representations and Warranties);
  • Amendment to Clause 7 (Conversion of Islamic Foreign Currency Facility);
  • Amendment to Clause 8 (Prepayment);
  • Amendment to Clause 25 (Market Disruption);
  • Amendment to Clause 27 (Increased Costs);
  • Amendment to Clause 29 (Disclosure of Information);
  • Insertion of Clause 46 (Assignment); and
  • Amendment to Clause 47 (Definitions and Interpretation).


Please click here for a copy of the revised STC - Islamic.