ISLAMIC BANKING
Our Islamic Banking solution serves Islamic financial institutions that are based on their objectives and operations, on Islamic principles such as the avoidance of riba and gharar, focus on halal activities, promotion of social and economic development and the application of a risk sharing philosophy. The solution supports key functionality such as accounting and financial reporting, customer relationship management, compliance, regulatory reporting for Central Bank reporting and Basel II, business intelligence, risk management and multi-channel support, and can be deployed standalone or integrated with conventional banking operations. The separation between Islamic Banking products and conventional banking products allows for different levels of integration for teller services, bank accounts and P&L. Our Islamic Banking solution supports standard Islamic Banking products such as Wadi’a, Mudaraba, Musharaka, Wakala, and Ijarah, and their variations based on country regulations and Shariah Committee directives.
