Islamic Banking Solution
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
