Islamic Banking - Industry challenges

The Islamic Banking sector is continuing to adapt to a new, more demanding, operating environment not just in the Middle East, but across the world. 

The clients today are increasingly moving towards values based Banking. The Sharia based concepts are embedded in the age old business practices based on the Holy book which states exactly the principles of financial transactions. This places a huge trust on the managers of these assets who are supposed to bring a truly Sharia based implementation of the Sharia principles at the same time bringing internationally benchmarked best practices, all woven together with shareholder value creation. This mix has forced all the Islamic Financial institutions to refocus within the sector on investment performance and the tools and processes required to obtain differentiated investment results based on customers innermost belief systems.

 Almost all Islamic institutions are expanding their product suites in a way to differentiate themselves from their contemporary conventional Banks. While there is a building competition amongst Islamic banks to create new products as an opportunity to emerge as a leader in a niche market, the systems focus needs to be re-evaluated
Futech's Islamic Finance solutions

Futech helps Islamic banks and Islamic financial institutions meet with these challenges as a consultant and products implementer. Futech offers technology based and market hardened solutions in every Islamic concept. The products come complete with the ability out of the box for Mudharabah, Musharaka, Ijara financing , Wadiya accounts, remittances, Treasury and Trade finance, and interfaces to channels and GL with strong CIF functionality. Robustness of architecture, modern component technology, customer centricity and quick business turnaround are the cornerstones of the architectures suggested.