Financial Software Testing Company
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Islamic Banking Testing

Islamic Banking

Phenomenal growth of Islamic banking underpinned the need for greater technological innovation to become a significant force in global financial markets to have
  • Differentiated customer services
  • High Scalability
  • Parameterized Solutions
  • Competition Advantage
  • Increased market share & customer base
  • Sharia law compliance

But while taking new IT initiatives Banks & financial institutions face several challenges

  • Shortage of experts in Islamic banking
  • Absence of accounting (and auditing) standards pertinent to Islamic banks
  • Lack of uniform standards of credit analysis
  • Differences with central banks
  • Differences within domestic banks, foreign banks, and Islamic banks
  • Instruments that meet the demand of specific investment requirements
  • The product development needs to be enhanced and moreover consistency is required in product structure
  • Improvement of corporate governance and risk management practice
  • Revision of usual tax regimes to meet the needs of Islamic products and create a level playing field with conventional products

How we help

  • Domain Expertise in Islamic Banking
  • 100% Functional coverage of documented functionalities in Software Testing
  • Upto 90% off shoring
  • Domain perspective to Test Automation

How you benefit

  • Satisfied Business Users
  • Happy End Customers
  • Shorter schedules
  • Lower Product life cycle costs
  • Lowered transaction costs
  • Avoiding Imputed costs of defects
  • Lower repair costs
    • Downtime costs
    • Fewer maintenance staff
    • Image, Brand Value
  • Auditability

Competency in Testing Modules

  • Mudarabah ( or deposits and investments)
  • Murabahah (cost plus financing )
  • Ijara ( or leasing )
  • Musharaka ( or Equity participation )
  • Istisna ( or Deferred Sale Financing )
  • Other products like
    • Sukuk ( or beneficial ownership )
    • Money Market Murabaha (treasury )
    • Wakalah
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