| Participating Financial Institution |
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| Financial institutions appointed by Bank Negara Malaysia as intermediary for special funds.
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| Passenger Vehicles |
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Vehicles for private use, for example Multi Purpose Vehicles, Sports Utility Vehicles and saloon cars:
1. A new passenger vehicle
- A newly manufactured passenger vehicle, yet to be registered with JPJ.
2. Used passenger vehicles
- A passenger vehicle previously registered with JPJ.
3. Reconditioned passenger vehicle
- An imported used passenger vehicle yet to be registered with JPJ.
4. Used reconditioned passenger vehicle
- An imported used passenger vehicle which have been registered with JPJ previously.
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| Payee |
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The person to whom the cheque is to be paid to.
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| Phishing |
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| The act of sending spoofed e-mail messages falsely claiming to be from your banking institution to lure you into divulging personal information such as your PIN or password for the purpose of identity theft.
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| PIN |
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| Personal Identification Number – A sequence of digits used to verify the identity of the cardholder. It is a kind of password.
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| Post-dated Cheque |
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| A cheque written with a future date.
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| Power of Attorney |
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A formal legal document giving authority to one person to act on behalf of another person.
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| Power of Attorney |
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| A formal legal document giving authority to one person to act on behalf of another person.
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| Prepayment |
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| Payment of all or part of a loan before maturity.
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| Prepayment Penalty |
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A fee charged by financial institutions for early payment of loan in full. The fee charged is usually based on a percentage of the loan amount or "X" months of interest.
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| Principal |
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The amount borrowed from financial institutions, excluding interest and other charges.
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| Principal or Purchase Price |
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| The amount of financing from the Islamic banking institution or the purchase price of the property by the Islamic banking institution from a customer, excluding profit margin and other charges.
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| Processing Fee |
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One time fee charged by banking institutions for loan processing. This fee is levied based on the loan amount.
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| Profit Margin |
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| The amount charged by the Islamic banking institution to the customer for the use of the fund during the tenure of financing.
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| Property |
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Refers to landed properties (like house, apartment, condominium) and land (like bungalow lots).
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| Property |
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| Landed properties such as houses, apartments and condominiums, and land such as bungalow lots.
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| Property Purchase Agreement |
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| A written contract signed between the Islamic banking institution and the customer, expressing the sale of the property by the Islamic banking institution to the customer. It contains major provisions such as the selling price, terms of payments and financing, and the duties, rights and remedies of each party.
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| Purchases |
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| Amount incurred on purchase of merchandise or services.
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