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Oracle FLEXCUBE for Islamic Banking
Sharia-Compliant Islamic Banking Solution
Comprehensive solution for a wide range of Sharia-compliant Islamic financial instruments, including Mudarabah, Wadiah, Wakalah, Murabaha, Tawarruq, Ijarah, Musharakh, Sukuk, and Istisna.
- Overview
- Features
Comprehensive Sharia-Compliant System
- Supports a wide range of Islamic banking products, including Mudarabah, Wadiah, Qard, Wakalah, Murabaha, Salam, Tawarruq, Ijarah, Musharakh, Sukuk, Istisna, and more
- Supports conventional banking and pure-play Islamic banking operations on the same installation
- Caters to Islamic banking operations for retail, corporate, trade finance, treasury, and investment
Compliant to AAOIFI Regulations
- Meets all the regulatory requirements of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
- Helps avoid penalties and consequences of Sharia non-compliance
- Empowers Islamic banks to drive profitability, increase client satisfaction, and tap into new markets by adhering to Sharia laws as interpreted by the AAOIFI regulatory body
Islamic Retail and Corporate Finance
- End-to-end processing of Islamic retail and corporate financing products such as Murabaha, Wakala, Mudarabah, Ijara, Musharaka, Tawarruq, Istisna, and more
- Manages and tracks all financing transactions in an efficient and secure manner
- Embedded Oracle BPEL-based process flows for origination of financing contracts under multiple products
- Predefined BPMN process flows for Islamic retail finance
Islamic Trade Finance, Treasury, and Investments
- Caters to Islamic trade finance operations, including import and export letters of credit, letters of guarantee, and import and export bills for collections
- Provides Islamic treasury operations such as foreign exchange, Islamic money market, Islamic derivatives, profit rate swaps, currency swaps, cash flow monitoring, limits, and collateral management
- Efficiently manages Sukuk and asset management operations
Enhanced User Experience
- Self-service options for consumers and other agencies
- Support for third-party interfaces and seamless transition across channels
- Offers a consolidated view of customer relationships, risk management, profitability tracking, and accounting
- Simplifies teller operations, enables faster input, and dramatically reduces transaction processing time
State of the Art Technology
- Provides bank IT staff with open development tools to support the changing needs of Islamic banking
- Service-oriented architecture (SOA) with a browser-based user interface
- Combines a robust technology platform and extensive experience in the financial services industry
- Provides predefined processes that represent industry leading practices