Product description

• Cash transactions made with deposit money banks either secure or non secure
• Overnight Deposits
• Call Deposits (ordinary call or 7 day call)
• Certificate of Deposits
• Fixed/Time/Tenured Deposits (Usually 30,60,90,180 days, occasionally 1 year)

Product features

• Transaction depends on limit for counter parties
• Can be secured or unsecured
• Can be Open Buy Back or Fixed Buy Back
• Simultaneous transfer of funds and securities by both counterparties
• Face value of underlying security same as nominal value of loan amount

Your benefits

• Opportunity to earn increased yield on short term investment
• Creates liquidity to meet short term obligations
• Safer as an investment when secured since investor receives collateral

The Requirements

Existing Clients

• Letter expressing desire to invest in MMD and authority to debit account thereafter
• Filled KYC form
• Duly signed investment contract confirmation letter showing issuers name.
• New Clients
• Account opening form with passport attached and means of identification
• Cheque or lodgment slip
• Filled KYC form
• Duly signed investment contract confirmation letter showing issuers name.

Application process

• You initiate request and comply with requirements above
• Account officer verifies documents and forwards to treasury
• Treasury raises deal slip and forwards to Trops
• Customers account is debited in line with deal slip instructions
• Contract certificates are generated