Toggle All

Asset Pre-approval or Purchase

The credit evaluation team evaluates the requested asset details, obtains quotations from different vendors, and approves the asset purchase at their discretion.

Toggle All

Migration

Migration is the process of moving data from a legacy system to a new system. Migrating finance arrangements involves,

Toggle All

Finance Maintenance

IES allows the users to make financial and non-financial amendments to Murabaha or cost-plus sale finance contracts as well as accrual-based products.

Toggle All

Payments

The payment system manages all Islamic payment activities such as payments to vendors, retention, rebate, cost counter-party, broker, and different transact applications handles the reviewer amounts.

Manage Transactions

This topic explains the service operations and associated APIs involved in managing various transactions related to a finance arrangement.

Delinquency Management

IES handles past due finances where the bank prefers to charge off or write off on account of contingencies.

Toggle All

Asset Pre-approval

In the Asset Approval stage, the bank and the customer enter a promise to purchase agreement.

Profit Accrual Sale

A profit accrual sale is a group of financial products in which the profit amount is accrued based on the outstanding finance principal amount.

Toggle All

Create a Finance

You can create a Forward Ijara finance when the asset is in the 'under-construction' stage using the customer number, currency, and contract reference number.

Finance Payoff

You can pre-close the Islamic finance arrangement by paying the total outstanding amount on the requested date. The pay-off simulation helps you calculate the total outstanding amount, including the outstanding principal, profit, and any applicable charges.