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Acceptance Letter
A letter from the applicant indicating his willingness to accept the loan after the loan is approved by the banking institution.
ActiveX
A software technology that has a set of rules on how applications should share information which allow programmed capabilities or content to be delivered to Windows-based personal computers via the Internet.
Administrative charges on overseas transactions
Charges imposed on overseas transaction by the card issuer.
Administrative Fees
Various types of fees imposed by the banking institution in relation to the loan, which are payable by the borrower.
Amount Financed
Total facility granted to hirer calculated as follows: Cash Price - Deposit + Freight (if any) + Vehicle registration fee (if any) + Insurance premium (for 1 year). 
Annual Fee
A flat fee payable annually once the credit card is accepted. The fee is payable even though the card is not used. Fees are imposed on principal and supplementary cardholders, unless waived.
Annual Percentage Rate
The annual percentage rate is calculated in accordance with the following formula:

  2NF (300C + NF)
2N2F + 300C (N + 1)

 
Where:
N is the total number of instalments.
C is the number of instalments that, under the contract, will be paid in one year or, where the contract is to be completed in less than one year, the number of instalments that would be paid in one year if instalments continued to be paid at the same intervals.
F is the amount determined in accordance with the formula

100C x T
  N x A


Where:
C is the same number as the first-mentioned formula.
T is the total amount of the pre-determined terms charges.
N is the total number of instalments.
A is the amount financed.
Application Form
A form to be completed when applying for loans, financing, or other banking products or services from banking institutions.

Appraisal/Valuation Report
A written analysis of the estimated value of real estate prepared by a licensed Valuer/Appraiser.
Asset
Any item of economic value owned by an individual or a corporation. Examples are cash, securities, accounts receivables, stocks, office equipment, houses, cars, and other properties.
Authority Card
An identification card to be shown to the hirer by the repossessor before repossession. The card has the following details:

  • The name and address of the repossessor and banking institution
  • Nature of appointment of the repossessor
  • The signature of an authorised representative of the banking institution
Balance Transfer Programme
A programme offered by card issuers which allows their existing cardholders or cardholders of other card issuers to transfer the outstanding balance from their credit cards to another at special interest rate.
Banking and Financial Institutions Act 1989 (BAFIA)
An Act which lays out laws for licensing and regulation of financial institutions carrying out banking, finance company, merchant banking, discount house and money-broking businesses.
Base Lending Rate (BLR)
A minimum interest rate calculated by banking institutions based on a formula which takes into account the institutions' cost of funds and other administrative costs.
Bill Payment Facility
A service provided by the card issuers to facilitate payment of bills with selected service providers e.g. phone charges, utility bills, insurance premiums, subscriptions fees. The service is normally provided free of charge.
Bond fund
An investment fund that invests primarily in bonds or other debt securities.
Buku Perancangan dan Penyata Kewangan Keluarga
This planning and household account book is designed to assist in the management of household income, expenses, savings and investment. An important feature of the book is the section on the concept of planning and budgeting.
Buku Wang Saku
This pocket money book is for school children to practise financial planning by recording money inflows, expenses and savings.
Bureau de Change
Outlets of commercial banks that provide services of foreign currency exchange, credit card and traveller's cheques encashment and remittance.
Bursa Malaysia Securities Berhad
The exchange where stocks and shares are traded in Malaysia.
Cache
The cache is the memory a browser uses to store content of the web pages that has been visited. Storing that content allows the browser to load those same pages more quickly the next time the same user visits them.
Capital guaranteed product
A product that provides a return while at the same time provide capital guarantee at the end of maturity.
Cash Advance
Cash withdrawn using credit card where a fee and daily interest rates apply.
Cash Back Rebate
A form of loyalty programme which gives cardholders a cash rebate based on the amount charged to credit cards on purchases.
CCRIS
Central Credit Reference Information System, which is a computerised database system developed and maintained by the Credit Bureau to collect, process, store and generate credit information.
CDS (Central Depository System) Account
It is an account opened under the investor’s name (applicant must be at least 18 years old) with a stockbroking company. This account will enable the investor to buy and sell shares and to carry out activities on other non-equity counters (i.e bonds, warrant,loan stock,etc) which are under CDS.
Charge Card Issuer
An institution that is authorised to issue charge cards either under a common brand or its own brand name. 
Charge Card Payment Scheme
An institution or association (e.g. American Express, Diners Club and MasterCard) that provides the necessary charge card infrastructure that facilitates authorisation and settlement of charge card transactions. 
Cheque
A written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer.
Clearing
The process of exchanging cheques to establish final positions for settlement among the drawee banks.
Collateral
Legal property, fixed deposits or other tangible securities charged to the financial institution for loan granted.
Commercial Banks
Banks licensed under the Banking and Financial Institutions Act 1989 (BAFIA) by Bank Negara Malaysia.
Commitment Fee
A fee charged by the banking institution for setting aside funding that are not utilised by the borrower. Usually only applicable to overdraft facility.
Compensation Charges
A penalty charged by Islamic banking institutions for late payment of instalment.
Comprehensive Insurance
Motor insurance policy which provides protection:

  • Against legal liability for death or bodily injury and property loss or damage to the third party
  • Against loss or damage to the motor vehicle arising from accident, fire, theft and other loss or damage as stated in the insurance policy
Contract of Guarantee
An agreement whereby the guarantor guarantees to settle the outstanding debts of the borrower in case the borrower fails to pay back the loan.
Corporate bond
A debt instrument for a loan which is issued by a borrower to an investor who is the buyer of the bond and lender of the money. In return for the money, the issuer agrees to pay regular interest to the bondholder for the term of the loan and the principal sum borrowed upon maturity.
Credit Application
An application to a banking institution for credit facility by a customer.
Credit Bureau
The "credit bureau" established by Bank Negara Malaysia pursuant to Section 30(1)(mmm) of the Central Bank of Malaysia Act 1958.
Credit Card Issuer
Organisations such as banking institutions, which issue the credit cards. 
Credit Card Payment Scheme
A credit card association (e.g. Visa and MasterCard) which provides the necessary credit card infrastructure that facilitates authorisation and settlement of credit card transactions. 
Credit Information
Data or information on a customer, including data or information on any credit facility granted by any banking institution to the customer.
Credit Report
A report generated by the CCRIS that contains credit information.
Daily Rest Interest
Interest on housing loan calculated on a daily basis based on current outstanding balance.
Deadlock Letter
A letter from the banking institution explaining the decision of the banking institution and reasons why your complaint could not be resolved.
Default
Failure to make instalment payment as stated in the loan or financing agreement.
Default
Failure to pay the monthly instalment to Islamic banking institutions when due.
Deposit
Initial cash payment required to be paid before entering into the hire purchase agreement.
Disbursement Fee
Various types of fees such as registration of charge fee, land search fee, bankruptcy search fee incurred by banking institutions and solicitors attending to the loan documentation, in relation to the loan, which are payable by borrowers.
Disbursement Fees
Various types of fees such as registration of charge fee, land search fee, bankruptcy search fee incurred by Islamic banking institutions and solicitors attending to the financing documentation in relation to the financing which are payable by the customer.
Discount Privileges
Discounts enjoyed by cardholders at selected merchants for purchases made and charged to credit cards.
Dishonour
The act of refusing to pay a cheque when presented.
Documentation
A set of agreements, forms, and other documents to be signed in connection with a loan. The documentation will form a full set of records for the loan.
Documentation
A set of agreements, forms, and other documents to be signed in connection with a financing. The documentation will form a full set of records for the financing.
Downpayment
An initial payment made by the buyer to the seller of the house.
Downpayment
An initial payment made by the buyer to the developer or seller of the property.
Drawee Bank
A bank that is instructed by the drawer to pay the amount of a cheque drawn on it.
Drawer
Accountholder who directs a bank to pay a sum of money stated on a cheque drawn on it.
Early Redemption Charge
A charge imposed by the Islamic banking institution on early payment of financing in full. The charge can either be a flat rate or 'x' months of profit.
Early Settlement
Settle in full the balance due under the hire purchase agreement earlier than the date originally agreed upon.
Early Settlement Penalty
A fee charged by banking institutions for early settlement of the loan in full. The fee charged is usually based on a percentage of the loan amount or 'x' number of months in interest.
Effects Not Cleared
Cheques and other items paid in by a customer for the credit of his/her account, of which the cheque is still pending clearance by the drawer's bank. Although these amounts will be shown in the customer's balance, it is still not cleared in the books of the bank. The bank is under no obligation to pay any cheques drawn against items not yet cleared.
Emergency Fund
A sum of money set aside to meet emergencies, unforeseen expenses or seasonal expenses (e.g. school fees, insurance, etc). As a rule of thumb, the amount should be equivalent to about three months salary and this should be placed in low risk investments.
Encryption
Encryption is the process of scrambling data into an unreadable format that is more secure for transmission over the Internet. Encryption is used to prevent the risk of the information being intercepted and read by a third party. The most common encryption technology is Secure Sockets Layer (SSL) which automatically encrypts all traffic between your website browser and the servers. You can tell you are in an SSL encrypted website by looking at the URL which will begin with https:// . There are two levels of SSL encryption which are 40-bit and 128-bit. The 128-bit browsers provide the highest level of security available today.
Equity fund
An investment fund that invests primarily in shares.
Expired Credit Card
A credit card on which the embossed, encoded or printed expiration date has passed.
Finance Charges
Charges imposed on outstanding balance after payment due date. For cash advance, finance charges are computed from the transaction date. For balance transfer programmes, the rate of interest charged on the balances transferred to the new card may differ from that imposed on purchases and cash advance for a specified period.
Financial Goals
This is what a person intends to do with his/her money within a certain period of time. Goal setting is crucial to help in planning of expenses and in spending wisely.
Financial Mediation Bureau
A company established under the Companies Act 1965 to act as mediator to settle disputes between financial service providers and their customers.
Financial Planning
To organise your finances to meet your goals. The goals can include buying a house, financing your children’s education or planning for retirement through the proper management of your finances.
Financing Tenure
Number of years taken to fully pay the financing amount and profit margin as agreed under a specific payment programme.
Firewall
A firewall acts as a filter that prevents information from getting in or out of a protected network. 
Fixed deposit
Money placed with banking institutions for a fixed tenure, e.g. 1, 3, 6, 9, or 12 months to earn interest.
Fixed Rate Loan
A term used to describe a loan, where interest charged is fixed throughout the tenure of the loan.
Fixed Term Charges
Total interest charged on the HP facility that is calculated as a fixed percentage on the amount financed over the duration of the facility.
Flat Rate
A term to describe interest that is charged as a fixed percentage of the loan amount throughout the tenure of the loan. The flat repayment amount is usually determined before the commencement of the repayment programme. For example, interest charged on a RM 10,000 loan at a flat rate of 10% per annum is RM 1,000 annually until the loan is fully settled.
Floating Rate Loan
A term used to describe a loan, where the interest charged fluctuates due to the rise and fall of a certain indicator such as the Base Lending Rate.
Foreclosure
Legal action available to the banking institution for recovering outstanding sums owed by a borrower who has defaulted on his/her loan. The property pledged by the borrower to secure the loan is sold and the proceeds of the sale used to settle the outstanding loan amount.
Foreclosure
Legal action available to the Islamic banking institution for recovering outstanding sums owed by a customer who has defaulted on his/her financing. The property pledged by the customer to secure the financing is sold and the proceeds of the sale are used to settle the outstanding amount.
Foreign Currency
Currency notes and coins which are legal tender in any territory outside Malaysia, excluding the currencies of Israel and Federal Republic of Yugoslavia (Serbia and Montenegro).
Fraudulent Transaction
A transaction unauthorised by the cardholder. Such transactions may occur as a consequence of credit cards that are lost, stolen, not received, issued on a fraudulent application, counterfeit or other fraudulent conditions as defined by the credit card issuer. 
Fraudulent Transaction
A transaction that is not authorised by the cardholder. Such transactions may occur as consequences of charge cards that are lost, stolen, not received, issued on a fraudulent application, counterfeit or other fraudulent conditions as defined by the charge card issuer. 
Graduated Payment
A scheme that allows the borrower the flexibility to pay a lower instalment sum at the beginning of the loan tenure before progressing onto a higher instalment sum as the borrower's purchasing power improves.
Graduated Payment
A scheme that allows the customer the flexibility to pay a lower instalment sum at the beginning of the financing tenure before progressing onto a higher instalment sum as the customer's purchasing power improves.
Gross Monthly Household Income
The sum of gross monthly pay of all working family members before deducting income tax, Socso, EPF, loan instalment or other deductions plus any additional income from overtime, commissions and other sources.
Gross Monthly Household Income
The sum of gross monthly pay of all working family members before deducting income tax, zakat (if applicable), Socso, EPF, financing instalments or other deductions plus any additional income from overtime, commissions and other sources.
Guarantor
Person or entity who is legally bound to pay a debt incurred by the borrower if that borrower fails to pay.
Guarantor
Person or entity who is legally bound to pay a financial obligation incurred by the person taking the financing if that person fails to pay.
Hirer
A person who hires the motor vehicle under the hire purchase agreement.
Homeowners Insurance
An insurance policy that combines liability coverage for a homeowner together with protection from damages caused by wind, fire, vandalism and other risks.
Houseowners Takaful
A takaful plan that provides coverage for a residential property against loss or damage caused by perils such as flood, fire, earthquake, hurricane and explosion.
Ibra'
Rebate given by the Islamic banking institution for the unearned profits, in the event of early redemption of financing. The rebate will be in the form of a reduction in the balance outstanding of the selling price.
Inactive Account
An account that has no transaction for a specific period, e.g., 6 months or 12 months.
Instalment
Monthly payment that the borrower has to pay to the banking institution as stated in the loan or financing agreement.
Instalment
Monthly payment that the hirer has to pay to the banking institution as stated in the hire purchase agreement.
Insufficient Funds
The notation of dishonour (of a cheque) indicating that the drawer's account does not contain enough money to cover payment of the cheque.
Insurance Protection on Purchase with Card
Merchandise purchase
Insurance coverage provided by card issuers on merchandise purchase charged to the credit card in the event the merchandise is lost / damaged. Generally, protection is given for a limited period, e.g. 30 days from date of purchase and there may be a limit on the maximum amount of coverage given.

Air Ticket 
Insurance coverage provided by card issuers to cardholders on purchase of air ticket charged to the credit card. Insurance is usually in the form of travel personal accident and costs incurred due to luggage delays, flight delays and missed flights.
Interbank Giro
An electronic funds transfer payment system for interbank payments up to a maximum of RM100,000 per transactions
Interest Rate
The amount charged by the lender to the borrower for borrowing a sum of money expressed as percentage of sum borrowed.
Investment Risks
Investment unlike savings involves risk. This refers to the risks that the value of an investment may be lower due to factors like movements in asset prices arising from changes in the market sentiment, business cycles, company revenue performance and changes in credit ratings.
Investment-linked insurance
A life insurance plan that combines investment and protection. The premiums paid will partly be used to pay for life insurance cover and partly for investment in specific investment funds of the policyholder's choice.
Islamic Banking Institutions
Banking institutions licensed under the Islamic Banking Act (IBA) 1983 or the Banking and Financial Institutions Act (BAFIA) 1989 that offer Islamic banking products and services. 
Joining Fee
One time joining fee imposed on cardholders for accepting the card.
Joint and Several Guarantee
Under a joint and several guarantee, upon the death of one of the guarantors, the estate of the deceased guarantor will remain liable under the guarantee together with the other guarantors.
Joint Guarantee
Under a joint guarantee, upon the death of one of the guarantors, the obligations under the guarantee passes to the surviving guarantors.
Late Charge
A penalty charged by banking institutions for not paying instalment due on time.
Late Payment Charges
Interest charged on the overdue instalment payment, calculated on a daily basis.
Legal Fees on Loan Agreement
Legal fees incurred for loan agreement. The current rate is 1% for the first RM100,000 and 0.5% for the next RM4,900,000.
Letter of Administration
A Grant of representation issued by the High Court to a person to allow him to administer the estate of the deceased who died without a will.
Liability
Legal responsibility to pay.
Liability
A financial obligation or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation.
Licensed Money Changers
Money changers licensed under the Money-Changing Act 1998 by Bank Negara Malaysia.
Liquidity
This is the ease at which you can convert your assets to cash at fair market value. Liquidity is an important consideration especially for short-term investments as well as the ease to convert to cash to finance expenditure.
Listed large capital stock
Companies whose shares are listed on Bursa Malaysia Securities Berhad with market capitalisation of generally above RM2 billion.
Listed small capital stock
Companies whose shares are listed on Bursa Malaysia Securities Berhad with market capitalisation of generally below RM750 million.
Loan Lock-in Period
This is the minimum period borrowers are required to maintain their loans with banking institutions without being subjected to any penalty.
Loan Tenure
Number of years taken to fully repay the loan principal and interest as agreed under a specific repayment programme.
Lost Card Replacement Fee
Fee charged on replacement of lost card.
Mandate
A written instruction, normally in the bank's standard form, naming a person (the mandatee) who is authorised to sign and operate the current account.
Margin of Financing
The loan amount granted by the banking institution, expressed as a percentage of the value of property pledged to secure the loan.
Margin of Financing
The financing amount granted by the Islamic banking institution, expressed as a percentage of the value of property pledged to secure the financing.
MEPS
A consortium set up by domestic banking institutions to provide shared banking services, such as shared ATM network and Interbank GIRO
Merchant
Any business that accepts credit cards as one of the payment modes for the purchase of their products/services.
Merchant
Any business that accepts charge cards as one of the payment modes for the purchase of their products and/or services. 
Minimum Income
Minimum annual income of applicants required by card issuers to qualify for a credit card.
Minimum Interest Free Period
Grace period where no interest is charged on amount incurred, usually 20 days, from the posting or statement date up to the due date, except for cash advance and balance transfer. Grace period is only applicable for purchases.
Minimum Loan Amount
The minimum amount of loan required by banking institutions when applying for the loan package.
Minimum Loan Period/Tenure
A shortest period / tenure, normally in number of years, where banking institutions would provide loan or financing (that is, not shorter than minimum period).
Minimum Monthly Payment
Minimum payment to be made by cardholders for the month.

Monthly Rest Interest
Interest on housing loan calculated on a monthly basis based on current outstanding balance.
Mortgage Reducing Term Assurance (MRTA)
A term insurance which reduces over the tenure of the loan. This form of insurance is used to provide cover for the outstanding loan amount, in the event of death or total permanent disability of the insured. MRTA is normally calculated to meet the outstanding loan amount.
Mortgage Takaful (Mortgage Reducing Term Assurance or MRTA)
A family takaful plan which will automatically settle a customer's house financing-i in the event of his/her death or permanent disability. Once the financing has been redeemed, the ownership of the property will be released to the customer or his/her beneficiary. The customer will pay a single contribution for the mortgage takaful when the financing is taken. The contribution rate will depend on the age, and the amount, profit rate and term of financing.
Net worth analysis
A method to determine one's net assets by comparing total assets against total liabilities.
Non-Zero Entry/Moving Cost Loan Package
A loan package where borrowers have to pay for all charges and fees involved in obtaining / refinancing a loan, such as legal fees, stamp duty or disbursement charges.
Offer Period
The availability period for the housing loan package.
Option/warrant
An instrument that gives the holder the right but not the obligation, to subscribe for a particular instrument, e.g. new ordinary shares, at a  pre-determined exercise price within a stipulated validity time frame (exercise period). The warrant becomes worthless after the expiry of the exercise period.
Outstanding Financing
Remaining financing not yet paid, including profit margin and other charges.
Outstanding Loan
Remaining loan not yet paid, including interest and other charges.
Outstanding Loan
Remaining loan not yet paid, including interest and other charges.
Over-the-counter visit (OTC)
Banking transactions performed over the counter is treated as one OTC visit irrespective of the number of transactions performed
Overdraft
A type of credit facility granted to the eligible current account holder. The borrower is allowed to issue cheques exceeding the credit balance in the current account but subject to a certain pre-approved limit granted by the financial institution.
Overdraft Rate
The amount charged by banking institutions to borrowers for utilising the overdraft facility, calculated based on daily outstanding balance.
Participating Financial Institution
Financial institutions appointed by Bank Negara Malaysia as intermediary for special funds.
Passenger Vehicles
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.

Payee
The person to whom the cheque is to be paid to.
Phishing
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.
PIN
Personal Identification Number – A sequence of digits used to verify the identity of the cardholder. It is a kind of password.
Post-dated Cheque
A cheque written with a future date.
Power of Attorney
A formal legal document giving authority to one person to act on behalf of another person.
Power of Attorney
A formal legal document giving authority to one person to act on behalf of another person.
Prepayment
Payment of all or part of a loan before maturity.
Prepayment Penalty
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.
Principal
The amount borrowed from financial institutions, excluding interest and other charges.
Principal or Purchase Price
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.
Processing Fee
One time fee charged by banking institutions for loan processing. This fee is levied based on the loan amount.
Profit Margin
The amount charged by the Islamic banking institution to the customer for the use of the fund during the tenure of financing.
Property
Refers to landed properties (like house, apartment, condominium) and land (like bungalow lots).
Property
Landed properties such as houses, apartments and condominiums, and land such as bungalow lots.
Property Purchase Agreement
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.
Purchases
Amount incurred on purchase of merchandise or services.
Rebate
Partial refund of the term charges (interest) calculated according to a formula stipulated in the Hire-Purchase Act 1967, if the hirer made an early settlement. 
Redraw Facility
The flexibility granted to borrowers to withdraw surplus money repaid to banking institutions.
Reference Rate
An interest rate used by banking institutions to price a loan or credit facility. The reference rate is determined based on a formula which reflects the banking institution's cost of funds, administrative cost and business strategies. An example of a reference rate is the base lending rate.
Refinancing
The process of paying off a portion or the entire amount of the existing loan with the intention of obtaining another loan from the same or another banking institution.
Remittance
Mode of forwarding money to someone.
Repayment Mode
Fixed monthly repayment
A scheme that allows borrowers to pay a fixed instalment sum every month until the end of the loan tenure.

Flexi monthly repayment
A scheme that allows borrowers to repay a higher repayment amount than its monthly instalment anytime without the need to seek banking institutions' approval.

Repossess
When the owner of the motor vehicle (i.e. banking institution) takes back possession of the motor vehicle from the hirer.
Repossessor
A person authorised by the owner (i.e. banking institution) to repossess motor vehicles from defaulted hirers on behalf of the banking institution. The repossessor has to be registered with the Association of Hire Purchase Companies Malaysia.
Revolver
Cardholder who keeps paying at least the minimum amount of payment required by the credit card issuer but not fully repaid the total outstanding balance.
Reward Programmes
Loyalty programmes implemented by card issuers to reward their cardholders for subscribing/using their credit cards. The most common type of reward programme is Gift Redemption Reward Programme.
Riba’
The excess paid or received over and above the principal in a loan contract.
Sale and Purchase Agreement
A written contract signed between the buyer and seller stating amongst others, the terms and conditions under which a property will be sold.
Sale and Purchase Agreement
A written contract signed between the intended buyer of the property and the developer or seller of the property, stating among others, the terms and conditions under which the property will be sold.
Securities
Investment instruments traded on the stock exchange.They can be shares,warrants or fixed income securities.
Security
Real or personal property that guarantees the repayment of a loan. The borrower risks losing the property if the loan is not repaid.
Selling Price
The price agreed for the Islamic banking institution to sell the property back to the customer which consists of the Islamic banking institution's purchase price (financing amount) plus its profit margin.
Senior Citizens
Malaysians and permanent residents aged 55 years and above
Separately Managed Equity Portfolio
A portfolio managed by fund managers where investors own the securities individually.
Service of Notices
Any notice or document required to be sent or given to a hirer may be sent or given in the following manner:

  • By personal delivery; or
  • By registered mail addressed to the hirer at the last known address
Shariah
The law of Islam, that covers every aspects of life, based upon the Quran, Sunnah (sayings and deeds of prophet Muhammad p.b.u.h.), Ijma’ (concensus of Muslim scholars)
and Qiyas (analogy).
Spending Plan
A plan of one’s income earned and how and what it will be spent on to ensure there is sufficient savings set aside to invest as well as for emergencies.
Stale Cheque
A cheque which has been issued for more than six months.
Stamp Duty on Loan Agreement
The duty payable to the Government (Stamp Office) for the stamping of an agreement, in this case, the Loan/Facility Agreement. Duty payable is based on the loan/facility amount. The current rate is 0.5% of the loan/facity amount or RM5 per RM1,000.
Start-up Capital
Capital needed to start or bring the business into existence.
Takaful
A protection plan based on the Shariah principles. A person contributes a sum of money to a takaful fund in the form of participative contribution (tabarru') and undertakes a contract to become one of the participants by agreeing to mutually help each other, should any of the participants suffer a defined loss.
Term Charges
Total interest charged on the hire-purchase facility and is calculated based on a flat rate on the amount financed over the duration of the facility.
Term Financing
A financing facility with regular periodic instalments, over a specified period of time.
Term Loan
A loan which is repaid through regular periodic payments, usually over a period of time, for example 10 years.
Time taken to replace lost card
Turnaround time to obtain a replacement for a lost credit card.
Time weighted rate of return
A measure of compound rate of growth in a portfolio.
Title
A legal document establishing the rights of ownership on a property.
Title
A legal document establishing the right of ownership on a property.
Trading Account
An account opened by dealers for every investor. The account indicates the amount invested and shows movements of investor's fund through buying and selling of commodities traded e.g. in foreign currency.
Trojan Horse
A programme that appears to be useful or harmless but actually hides malicious or harmful code designed to exploit or damage the system on which it is run.
Two-Factor Authentication
A process to verify the identity of a person through validating two credentials provided. The two credentials are typically something a customer knows, i.e. login ID and password, and either something a customer has, e.g. digital certificate and one-time password generated by tokens or provided via short message services or something a customer is, e.g. biometric features such as fingerprint or retinal pattern.
Unit trusts
Pools of money managed by an investment company. They offer investors a variety of choice, depending on the fund and its investment objective.
Valuation fee
A fee charged by property valuers to appraise the properties. The valuation fees start from a few hundred ringgit upwards, depending on the value of the properties.
Valuation Report
A written analysis of the estimated value of real estate prepared by a licensed Valuer or Appraiser.
Variable Rate Financing
Total interest charged on the housing loan facility, which is based at a margin percentage above the BLR of the banking institutions.
Web Browser
A web browser is a software program used to surf the web. It enables users to visit web sites and view web pages on their personal computer screen. The browser handles all the work that goes into viewing web pages. 
Yield
Similar meaning as returns.When you talk about bonds,the term used is yield.
Zakat
The obligatory payment of a certain proportion of the wealth and of each and every kind of property liable for zakat. This is paid annually for the benefit of the eligible Muslims in the community. It is a major economic means for establishing social equitability and leading the Muslim society to prosperity.
Zero Entry/Moving Cost
A loan package where banking institutions financed certain types of fees and charges incurred by borrowers.

Examples of these fees and charges are legal fees, stamp duty or disbursement charges. These costs however, exclude stamp duty and legal fees, pertaining to Transfer of Ownership (Memorandum of Transfer) and maintenance / administration fees imposed by developers (components of the costs vary between banks).
Zero(0%) Instalment Plan
A facility arranged between card issuers and selected merchants where cardholders can pay for purchases made with the merchants concerned by way of instalment, e.g. 3, 6, 9 or 12 months, at no interest, subject to the available credit limit of cardholders at the point of application.