Selam (Advance payment) mode of financing

This is a financing service that would be made available in cash for working capital purposes for customers engaged in agricultural sector as per the contract between the Bank and the Customer. It is a sales arrangement whereby the customer shall deliver the type of product she/he produces in accordance with the type, quality, quantity, and given period to the bank. Agent/third party./ The bank may require collateral from the customers to secure the finance.