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SmartISB Islamic Solutions

SmartISB Islamic Core Banking System has been developed in accordance with Sharia’h to guarantee pure Islamic operations.

SmartISB provides our Islamic banking customers with Sharia’h compliant products which offer a competitive alternative to the products and services offered by conventional banks.

Built on standard technology infrastructure, SmartBankPro works as back-end to SmartISB which allows the addressing of both Islamic banks and conventional banks including international requirements. It allows the flexibility to add Islamic banking services to a branch of choice and eventually converted to Islamic banking branch.

B&F Soft is committed to keep its products up to date with the Islamic banking standards by continuing products development, enhancements and support.


SmartISB Features:

Integrated and Modular

B&F Soft SmartISB Islamic Banking Solutions is fully integrated with B&F Soft SmartBank Core Banking. SmartISB modular characteristics allow the integration to any other Core Banking system.


Flexibility

B&F Soft SmartISB Islamic Banking Solutions implements a powerful engine that facilitates the definition of Islamic Banking products easily and efficiently in response to the requirements of the market, according to the bank policies and within the appropriate time frame.


Coverage

B&F Soft SmartISB Islamic Banking Solutions provides a wide range of Islamic Banking products that covers many Islamic Investment and Finance transactions and assures user satisfaction.


Scalability

B&F Soft SmartISB Islamic Banking Solutions is capable of meeting the organization growth and expansion by providing the capability to process large, medium and small transaction volumes in an efficient manner and guarantee the performance.


Multi-Branch

B&F Soft SmartISB Islamic Banking Solutions supports Multi-Branch operations; each branch can operate as a separate accounting entity, and inter branch transactions to be reconciled between branches.


Ease of Use

B&F Soft SmartISB Islamic Banking Solution based on Windows graphical user interface, which allows end user to be familiar with SmartISB shortly and reduces implementation time.

  • Supports multiple windows technique
  • Drop Down windows to select predefined static data and codes
  • Context sensitive help in user preferred language
  • Extensive information and error messages are displayed in message boxes
  • Clear and clean screens and reports


Multi-Lingual

B&F Soft SmartISB Islamic Banking Solutions is Multi-Lingual system; users select their preferred language for screens, reports and messages. Customer preferred language for correspondence can be defined in customer profile and can be different from the system default language.


Multi Links

B&F Soft SmartISB Islamic Banking Solutions supports online links to SWIFT, Email, Signature Verification, SMS Banking and Internet-Banking systems. It also supports online real-time links to market rates captures.


Online/Real-time

B&F Soft SmartISB Islamic Banking Solutions is real-time transaction processing system. All database updates are done as soon as the transactions approved. This ensures database integrity and up to date positions and balances, which are instantly available for enquiries and reports, allowing online tracking of exposures and reducing risk.


Multi-Currency

B&F Soft SmartISB Islamic Banking Solutions has the facility to conduct deals in any currency under the control of the bank credit and finance rules.


Workflow

B&F Soft SmartISB Islamic Banking Solutions supports transaction queues, which allow maximum efficiency and easy transaction workflow, throw out the departments of the bank.


Security

B&F Soft SmartISB Islamic Banking Solutions is a highly secured system, through security administration suite the following security issues are comprehensively covered:

  • Users and Operations security: Who may login to the system and what jobs he can do
  • Accounts Information Security :Only users authorized to access a specific account, can see its information


Transaction positing Security:

  • Transaction is not accepted unless it is verified twice (A Signatory, B Signatory), In a specific conditions the transaction is sent for authorization
  • Every action done is registered and printed audit trials and logs.


Inquiries

B&F Soft SmartISB Islamic Banking Solutions enables the users to inquire about any static data or financial transaction from different views such that to offer rigid base for decision making and planning.


Reporting

B&F Soft SmartISB Islamic Banking Solutions provides a wide set of built-in reports that can be used to view and analyse the Islamic Banking different data. Also, SmartISB provides a powerful report writer tool that can be used to build and generate very comprehensive financial and MIS reports like central bank reports without the need to any special IT skills; beside the data can be accessed by any standard database reporting tool.


What-If Analysis

B&F Soft SmartISB Islamic Banking Solutions provides a powerful tool that enables the users to give the customers different planes for payment and repayment based on different scenarios upon customer requirements.


Credit Facility

B&F Soft SmartISB Islamic Banking Solutions has a comprehensive credit facility module which allows the credit department to control the management of credit line and commitments including increase and decrease of the credit line.


International Standards

B&F Soft SmartISB Islamic Banking Solutions design has been built on the international standards (e.g. ISO, SWIFT) in defining the data fields and data structures.


Documentation

B&F Soft SmartISB Islamic Banking Solutions Documentation contains hundreds of clean and comprehensive pages of text, and supplied in printed form and as on-line help text to be displayed whenever required from within the system.


Documents Management

B&F Soft SmartISB Islamic Banking Solutions implements a feature that enables users to scan and store documents (such as Contracts) related to any business entity or transaction; those documents are linked to their corresponding transactions and available for inquires in different stages of transaction processing. SmartISB also provides a powerful document designer that enables the user to create their own rich documents and generate them in different transaction stages using a built-in dictionary for document data items


Fees and Charges

B&F Soft SmartISB Islamic Banking Solutions provides the power of Fees, Charges, Commissions and Taxes equations definition engine;  These equations can vary from simple calculation algorithms to complex calculation algorithms according to the bank and the business requirements; SmartISB implements a simple script language that can be used to build simple or sophisticated equations with minimum IT skills.SmartISB provides the following options when collecting the fees and charges:

  • Pay upfront
  • Unscheduled , can be paid partially or full at any time during the deal life time
  • Added to the instalment amount


More Features

  • Automatic generation of accounting entries
  • Automatic generation of position entries
  • Online printing of ticket and advice
  • Report writer for generating new reports
  • Integrated Signature verification system
  • Integrated dealing room system
  • Easy Integration with other systems


Islamic Trade Finance

B&F Soft SmartISB Islamic Banking Solutions provides a Trade Finance module that covers the life cycle of a wide range of trade finance instruments such as Import L/C, Export L/C, Standby L/C, L/G and documentary collection.


Islamic Fund Transfer

B&F Soft SmartISB Islamic Banking Solutions provides a Fund Transfer module that supports fund transfer operations for both customers and banks; this module implements SWIFT standards and able to generate different SWIFT messages such as MT103 and MT202. In addition, this module can be easily interfaced to RTGS and ACH systems.