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ITHMAAR FINANCE

PROCESS

Covering all finance sectors, from corporate and retail finance to micro-finance, and encompassing the entire business process from finance origination to collection and legal follow up, Ithmaar Finance is a full-fledged Islamic finance system.

01

“Best practice blueprint”

Business Flow

Ithmaar Finance moves seamlessly with your business flow. Our decades of rich domain experience give you a ready-made best practice blueprint across all aspects of your operations.

01. BUSINESS PARTIES DEFINITION:
  • Customer Creation (KYC)

required Attributes filling, required Document attachment

  • Other Parties (sellers, dealer, constructor, guarantor, …)

02. CREDIT ANALYSIS:
  • Financial Statement Analysis

Major category of ratios, Trend analysis, Risk analysis, Rinancial distress

  • Scoring Scheme

Quantitative factors, Qualitative factors, Composite complex factors

  • Credit Inquiry

Inquiry results recording, Online and offline interface


03. FINANCE ORIGINATION:
  • Corporate Finance

Global/specific product limit, Multi proposals, Collateral requirements, Approval cycle and committees

  • Retail/Microfinance

Project/opportunity assessment, multiple offering, approval cycle


04. CONTRACTING:
  • Purchase Orders:

PO, receiving, delivery, cancelation, payment collaterals

  • Collateral Registration
  • Booking
  • Approval Cycle

05. SETTLEMENT:
  • Over The Counter
  • Bulk (interface)

06. CONTRACT MAINTENANCE:
  • Reschedule/Early Settlement/Termination
  • Revolving Contract
  • Profit Declaration

07. COLLECTION AND LEGAL FOLLOW UP
  • Buckets Definition
  • Mass Allocation
  • Manual Allocation/Reallocation
  • Automatic Escalations
  • Customers Contact/Response
  • Collectors’ Performance Tracking
  • Legal Cases
  • Intelligent Notes Maintenance

02

“Simple setup process”

Setup Process

Super dynamic architecture design tremendously simplified the setup process from product definition and rule engine setup to fees and other asset data definition. Moreover, it gave you the ability for later change and optimization along your journey.

Setup Process steps

Product Setup
  1. Component Structuring
  2. Repayment Options
  3. Eligibility Criteria
Business Rules Engines
  1. Roles Definition
  2. Routes Design
  3. Inbox
  4. Re-assign / Revert Tasks
Fees Definition
  1. Formula Building
  2. Transaction Association
  3. Beneficiary Specification
  4. Fees’ Refund
  5. Fees’ Amortization