Key features

Finacle Islamic banking has robust features that support Islamic accounting with traceability. A self-contained accounting backbone supports STP capabilities and addresses both international and region-specific banking needs

International Accreditation
Certified compliant by Al Futooh Consultancies with Shariah rules & AAOIFI standards
Islamic Asset Products
Enables the bank to define and offer a range of asset products
Mudarabah Pool Management
Manage funds by accepting deposits and deploying funds appropriately
Hijri Calendar
Supports two main versions of the calendar adjusting the number of days per month
Salam and Parallel Salam
Captures Salam sale and parallel Salam agreement details at account level including commodity and seller details
Ijarah and Forward Ijarah
Integrates lifecycle workflow and accounting entries applicable for Ijarah and forward Ijarah concepts, from asset procurement to closure of financing account

Key benefits

  • Customizable product framework

  • Lowered total cost of ownership (TCO)

  • Greater process efficiency

  • Rapid roll out of Shariah-compliant products

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