Profit distribution is a critical function that impact’s a financial institution’s reputation and market share.
The majority of Customers, Depositors and Investors seek low risk investments with higher profit rates to secure their investment and achieve good returns. Accordingly, banks require a solution to ensure accurate calculation of profit rates, customer profits as well as efficient and fast profit distribution. Historically, calculations and distributions were done manually using Excel and manual books. ETHIX PCD by ITS is an innovative banking software solution that not only calculates and distributes profit effectively, but allows continuous, high speed calculations until an approved profit rate is reached.
- AAOIFI certified solution designed to automate the process of profit calculation and distribution
- Fully compliant with shariah rules and regulations
- Handles all types of islamic liability products
- Defines both Restricted & Unrestricted account pools
- Automatically calculates Islamic profit rate
- Automatically allocates Mudareb Share, Risk, and Equalization
- Automates profit calculation & distribution across al eligible accounts
- Calculates Redemption Penalty “P re-Matured Penalty”
- Calculates Islamic Profit Rates
- Calculates Bank Entitlements
- Mudareb Share
- ETHIX-PCD supports multi pool definition
- Restricted fund pools
- Unrestricted fund pools
- Calculate profit and distribute it to the customers
ETHIX reporting module (ETHIX-360) supports the delivery of comprehensive reporting daily, monthly and yearly, as well as reporting requirements of Central Banks, and Bank Risk, Operations, Security and more.