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Overview

The Islamic Banking solution covers the full spectrum of functional requirements in accordance with the Islamic principles of Shari’a Law. It ensures full Islamic Banking offerings, featuring complete management of products and mechanisms to serve operations according to the Shari’a rules & standards. The Islamic Banking system offers compliance while providing flexibility and efficiency of operations, reducing costs, maximising productivity and delivering impeccable client service.

Key Features

Full Islamic product support based on the principles of Murabaha, Mudarabah, Musharaka, Ijarah, Istisna and Salam. The Bank may come up with variations of the above products using simple parameters.

Complete product lifecycle management, from quotations management to facilities write-off. Different workflows may be dynamically defined for different products at any stage of their lifecycle to ensure compliance with the Bank’s policy.

Multiple pricing policies can be created including fixed profit percentage, benchmark interest rates, units purchase, profit distribution and loss sharing.

Real-time risk management allowing for rapid on-the-spot risk assessment.

Advanced deposits management, covering restricted and unrestricted investment, Wadiah deposits, Time deposits, current accounts and more.

Sophisticated profit distribution capabilities, supporting a virtually unlimited number of pools dynamically set up by the Bank, resulting in accurate and transparent distribution procedures.

Integrated teller platform, covering all branch operations through a complete and modern environment.

Complete support of the Arabic language including concurrent user support for ‘right-to-left’.

Islamic financing to corporate and retail customers

Benefits

Compliance to regional regulatory requirements

Single point of reference to accommodate future requirements when the Bank expands

Improved communication with customers due to powerful KYC and CRM tools

Operational efficiency due to its easy-to-use environment

Value for money when integrating to other systems

Why the Islamic Banking solution by Profile Software?

The in-depth business functionality and state-of-the-art architecture of the Islamic Banking software provides the flexibility to instantly adapt to rapidly evolving market demands. It covers all aspects of Islamic Banking on a single platform in full compliance with international and Islamic regulatory requirements (including IAS and AAOIFI accounting standards).