A forward exchange (FEC) contract is a Sharia’ah-compliant contract between you and NBC. A rate of exchange is fixed immediately for the purchase or sale of one currency for another, for delivery at an agreed future date. While the rate of exchange is fixed when the contract is entered into, money only changes hands at the maturity date.

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The benefits of the NBC La Riba Forward Exchange Contract

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Fixed rate

Rate of exchange is fixed immediately.

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Peace of mind

Unilateral binding promise between you and NBC.

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Secure

Lessens your foreign exchange risks.

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Guaranteed

Money only change hands at maturity date.

How can I value from an NBC La Riba Forward Exchange Contract?

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Get started

Simply complete our online form and we will contact you, or visit your nearest branch.

Bring the following when you apply

  • Your identity document
  • A letter from your employer
  • Two passport photos
  • Salary slips for last three months
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Benefits
  • Fully Shari’ah-compliant product
  • Helps you to mitigate foreign exchange risks
  • Unilateral binding promise
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Important information
  • 5% charge for not fulfilling promise
  • The rate of exchange is fixed when the contract is entered into
  • Money only changes hands at the maturity date of contract

Need more information or assistance?

Call us:

+255 22 219 3000 

Email us:

contact.centre@nbctz.com

Contact usFind a branch