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Discussion Topics
qOracle and Islamic Finance qBackground qRe-architecting of Islamic Banking Technology qBenefits of Re-architected Technology Platform qConclusion
Oracle Corporation
Track Record of 30+ Years of Innovation
Scale
$27.0B in revenue for FY10 #1 in 50 product or industry categories 370,000 customers in 145 countries 30,000 partners 106,000 employees 10 million developers in Oracle online communities
COMPLETE
OPEN
INTEGRATED
BEST OF BREED
#1
Comprehensive Offering
StandardsBased Architecture
Industry Leader
E / FRAMEWORK
Oracle FLEXCUBE Delivers Significant Business Benefits via Comprehensive Range of Functionalities and Features
Universal Banking Extensive Parameterization Product Launch Process Orchestration Faster Business Straight Through ProcessingExtensibility
Accelerator Pack
Customer Centricity Sophisticated Limits Management Limits Management Flexibility Enterprise Wide Pricing
Integrated GL
Comprehensive MIS
DEPLOYMENT
Comprehensive Security
TECHNOLOGY
Flexible Deployment SOA-enabled Architecture
Multi Lingual
Flexible Reporting
Audit Trail and Controls Multi-Currency Foreign Branch Operations Flexible Interface
Multi Channel
Regulatory Reporting
Scalability
Origination Workflows
Processing
10
Sharia Compliance Verified & Confirmed As Part of Product Deployment at Leading Institutions
Oracle FLEXCUBE for Islamic Banking Customers
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nality for Islamic Core Platform the proven, best selling Oracle FLEXCUBE platform leveraging all its arc Proven Banking built upon
used products, including extensive & configurable profit distribution model for deposits. Features modelled Comprehensive Product Coverage
Ability to Support Integrated Platform both Conventional Banking and Islamic Banking operations from the same
BPEL based process flows forFlows Embedded Process origination of financing contracts under multiple products. Facility to easily ad
Fast Deployment
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Discussion Topics
qOracle and Islamic Finance qBackground qRe-architecting of Islamic Banking Technology qBenefits of Re-architected Technology Platform qConclusion
13
Compliance
1. Audit 2. Central Bank 3. Risk Mgmt 4. Shariah Audit 5. Shariah Council 6. AAOIFI 7. IFSB
Products
Rapid Evolution Multiple Contracts Debt & Equity & Fee
Islamic Financial Institutions Established within the last 5 years Less than 1m customer accounts Less than 50 branches Asset Size of USD5b or less Limited budget on Technology Inadequate IT Expertise
Competitors
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The Reality on Technology Implementation for Islamic Banking as observed by IBS in 2007
q Decision making has been too quick without proper vendor assessment. Many
q banks are paying today for making the wrong choices through extended timelines for implementations they spend in the millions for conventional systems, they tend to budget less than $500,000 for Islamic banking systems. This leads to: q Tweaking of existing systems to cater to the requirement q Shoddy implementation and ill-conceived products q system is unable to meet the short time-to-market requirement for Islamic banks a simple solution similar markets
q Lack of knowledge amongst vendors often leads to tweaked productsbeing delivered. Often, banks end up doing the work themselves as the
q
q Vendor misleading the customer into believing that their Islamic banking offering is
q
15
Now (2011)
Less prevalent now. However cases of new banks making decision over short (1-2 days) presentation are still Banks have been under-budgeting for Islamic observed Still prevalent in start up banks; however significant banking systems reduction seen on banks that are migrating to new Islamic banking systems Lack of knowledge amongst vendors often leads to tweaked products Vendor misleading the customer into believing that their Islamic banking offering Varied interpretations of the Shari' a across is a simple solution geographies and banks operating in similar markets Marked improvements. vendors have been exposed to more implementations and have recruited experienced Vendors over the different stance; Islamic banking resources taking a last few years systems are now showcased as comprehensive and complex Reduced to meet the demanding requirements of Islamic solutions significantly due to the need to comply to AAOIFI and IFSB standards banking
3 4 5
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Discussion Topics
qOracle and Islamic Finance qBackground qRe-architecting of Islamic Banking Technology qBenefits of Re-architected Technology Platform qConclusion
17
18
Demand Deposit Saving Deposit Time Deposit Mudarabah Financing Musharakah Financing Murabaha Financing
Financing
Trade Finance
Treasury
19
Relationship / Channel based Pricing Straight through Processing Customer Service Alerts Regulatory reporting Payments & Clearing Processing Prescriptions
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Eligibility Criteria Validations Availability Pricing Special Terms Accounting Rules Lifecycle Events Processing Event Handling Exception Handling Default Pricing, Charges & Terms
Module Parameters
Journal Postings
2011 Oracle Corporation Proprietary and Confidential 2011 Oracle Corporation Proprietary and Confidential
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Pricing
Customer
Product Eligibility
Profitability
Relationship Views
22
23
Process Tier
Oracle BPEL
Application Tier
J2EE 1.4
Data Tier
Oracle 11g R2
2011 Oracle Corporation Proprietary and Confidential 2011 Oracle Corporation Proprietary and Confidential
24
SHARIAH COMPLIANCE
25
Discussion Topics
qOracle and Islamic Finance qBackground qRe-architecting of Islamic Banking Technology qBenefits of Re-architected Technology Platform qConclusion
26
Discussion Topics
qOracle and Islamic Finance qBackground qRe-architecting of Islamic Banking Technology qBenefits of Re-architected Technology Platform qConclusion
28
Thank You!
Jamil Hassan Principal Consultant, Islamic Banking Sugato Banerjee Senior Manager, Southern Africa Sales
Sugato.Banerjee@ORACLE.com Jamil.Hassan@ORACLE.com
ALHUDA CENTER OF ISLAMIC BANKING & ECNOMICS Head Office: 192- Ahmad Block, New Garden Town , Lahore, Pakistan Ph: +92-42-35913096-8, 35858990, 38407850 Fax: +92 -42-35913056 E-mail : info@alhudacibe.com Web: www.alhudacibe.com