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Transforming to Electronic
Islamic Finance & Commerce
Ismail Ali
ManagerProduct development – Banking Industry
B r i d g i n g t h e d i v i d e
ITS Overview
Geographical Coverage
ITS Profile
ITS Profile
Our Development Center
Banking Key Drivers
Key business drivers
Easier access to knowledge
Rapid advances
in technolo
gy
Globalization
Strategy for banking organizations
Short term planning cycles Proactive environment shaping Agility and ability to handle
continuous chaos to evolve competitive advantages
Long term planning ‘Fishbowl’ management Long lasting competitive
advantage
In the past Going forward
Deg
ree o
f ch
an
ge in
en
vir
on
men
t
Delivering Service Based Banking
B2B & B2C Affiliations & Collaboration of
Global Services
XML SOUP in financial services
B2B ScenarioB2B Scenario
Initial offering & discussion
Product rollout planning meeting
Distribution incentive for new product
Discussion Groups
Initial offering & discussion
Product rollout planning meeting
Distribution incentive for new product
Discussion Groups
Business Partners
Customers
Your Employees
Review partners input Match & make profiles
with products Meet with internal team
to discuss changes product release schedule Customer-centric product
design discussion Preparing marketing
campaigns
Review partners input Match & make profiles
with products Meet with internal team
to discuss changes product release schedule Customer-centric product
design discussion Preparing marketing
campaigns Internet Market-place Check related New
items. Finding the new
products based on profile
Internet Market-place Check related New
items. Finding the new
products based on profile
ITSHarnessing Technology
for
Innovative Islamic Banking
Software Windows
Key Islamic Banking Challenges
Key Business ComponentsRich
Customer InformationBackend
Integration
Audit Trail for all
Activities
System Administr-
ation Report & Forms Engine Deal Costing
& Pricing
Goods Inventory -
Vendors
Islamic Product Engine
Islamic Instrument
Engine
Islamic Business Models
Approval and Override
Users Profile and
Authority
Instrument and Product Engine
Modules & Features
• The System is designed to be an Islamic engine through creating Various Islamic Instruments based on Islamic business models and combination of Sharia’ah compliant business process sequence
Islamic Business Models
Modules & Features
Islamic Instrument Definition Engine
• Example: Murabahah Finance
[ Steps configuration ]
[ Items Selection ]
[ Instruments Listing ]
Modules & Features
• Example: Automobile Finance– Comprehensive system administration module for system and new
Products set-up
Islamic Product Definition Engine
Modules & Features
Profit Matrix• User defined factors &
criteria
• Supports multiple criteria
• Automatic profit rate at deal level
• Also Allow override at transaction level
Modules & Features
Example: Murabahah Deal
Rich Process Flow
3
2
4
5
6
87
Initiate deal
Send to approve1
Receive goods Issue
Purchase Order
Deliver goods
Approve or reject deal
Sign contract
Originate murabaha
Modules & Features
[ Entry Package Setup ]
[ Entry Leg Setup ]
Modules & Features
Accounting Entry Generator• The bank can attach accounting entries in
each step of the product workflow
Modules & Features
PURCHASING• Process purchase
order (PO)• Schedule goods
receipt in phases• Handle purchase
returns• Create & maintain
vendor & supplier information
• Handle purchase through agents/brokers
Modules & Features
ASSET CONSTRUCTION
• Track construction progress
• Schedule & track progress payments
• Handle payment deductions
• Create & maintain developer & consultant information
• Strong reporting engine for contracts, advices and statements printing
• Reports generation can assigned to workflow steps
Reporting Engine
Modules & Features
Key Benefits
Thank You
Please visit uswww.its.ws
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