February 22, 2019
The Product 4 Islamic Bank l-Bank development stems from the desire to offer even to the traditional banks the opportunity to satisfy the growing demand for Shariah-compliant services and therefore to offer customers the products that apply these schemes, such as Murabaha, Tawarruq, Musharaka, ljarah, Istisna'a, but also Qard Hasan and others.
The product allows:
- Manage the collateral asset, required in many of the Shariah products
- Naturally manage the dual calendar, Gregorian and Hijri
- Facilitate the creation and roll-out of new products thanks to the parameterization and dynamic management of the workflow, with reduced time-to-market
- Use best practices for risk minimization
- Maximize the potential for business development by being able to satisfy requests for access to funding from Islamic clients
- Facilitate the use of functions by bank staff, requiring non-specialized skills to complete them
The product supports the entire life cycle of the selected Islamic product, with parameters dedicated to both retail and corporate customers, providing 24/7 business functionality in an advanced, secure, modular and scalable architecture capable of making banking operations future-proof of the involved sector.