NDC-i refers to a sum of money deposited with the Islamic banks or SPI banks and is repayable to the bearer on a specified future date at the nominal value of the NDC-i. This instrument is structured along the Islamic concept of Bai’ Bithaman Ajil (“Deferred Payment Sale”) and has been approved and endorsed by the National Shariah Advisory Council (SAC) for Islamic Banking and Takaful Department (IBTD) of BNM.