iSHRAQ Advanced Investment & Financing Management Model

iSHRAQ*Invest provides real time access to investment information through a user friendly web interface that offers 3 levels of information in a single page as well as a multi tabbing feature that makes the navigating experience through the system more effective while saving all the data coherently. Every transaction applied on the system is calculated and reflected automatically, minimizing the overall time consumed to run the portfolio calculations and enhancing the system performance. This advantage is useful when generating reports in previous dates since these reports take almost the same time to generate as the current report.

Key benefits are:

• Enables customers to invest in most asset classes, in multiple markets, using one or more currencies.

• Improved operational performance and productivity through its fully centralized database along with full scalability for unlimited growth and large volume processing capabilities.

• Offers comprehensive and consolidated reports, market updates, and portfolio yields.

• Enables portfolio managers to manage money of one or more portfolios in a specified currency which saves front officers of all back office accounting details.

• Stock markets support in single and multi-currencies including setting deals, commission and fees rates in each currency allowed by the dealing market.

• Automatic calculation of fees at specified periods or with each transaction, whether it is per-transaction, fixed amount or fixed lump sum at a specific period.

• Fully integrated web based application allowing employees and customers real time access to investment information.

• Ability to maintain several transactions simultaneously with independency in saving different forms allowing users to create, edit and save several records at once.

iSHRAQ*Finance provides financial facilitators with a comprehensive Islamic finance platform  rich in tools to maximize investment performance through a wide range of Islamic products that are specially tailored to meet the diverse needs of their corporate and retail customers, while being fully compliant with the Sharia  regulations. It is a complete customizable and innovative solution that includes all the finance facility cycles starting from the approval workflow, managing legal entities, setting repayment plans, connecting the business parties with the following Islamic products:

• Murabaha

• Mudaraba

• Musharaka

• Deminishing Musharaka

• Tawarruq

• Qard Hassan

• Musawma

• Ar-Rahnu

• Istisnaa

• Leasing

iSHRAQ*Microfinance Loan Programs Business Features:

• No collaterals, guarantors, or bank accounts

• No penalties for late payments

• Loan full or partial dropping in case of customer death or inability to repay

• Grouping concept to mitigate collection risk

• Takaful concept: Customer performance tracking for further loan programs.

• Back date facility that can undo the effect of posting transactions backward until a specific date; to  add missed transactions in the past and affect balances in the past and update or delete one or more posted transaction.

• Built-in data mart for quick generation of complex and multiple-domain reports without affecting the application performance. The data mart also allows getting reports as of any date in the past with the same performance as of current date. 

• Friendly user interface in terms of facilitating application usage through multi-pages, multi-tabs and customizable favorite list for quick and easy access of day-to-day tasks.

• Solid approval workflow engine to guarantee that each transaction has its own approval path, starting from the transaction submission until the final decision is made.

• Allows remote approval for application requests.

• Task list that shows the current transaction pending for action from the current user. When a transaction is done, it disappears from the list, saving the user from searching, with the option of creating a mass action for bulk transactions.

• N-tier architecture with two common presentation and database tiers, in addition to the middle-tier which is composed of control-logic enabling data-access tier directly or through the business tier.

• Fully web based structure that grants access to any location (branch) without any installation or maintenance efforts.

• SOA (Services-Oriented Architecture) compliant which allows exposing web services to bank clients in order to create application requests, application follow-ups, or any other inquiries.

• Fully compliant with Sharia principles.