Islamic Profit Calculation

iMAL*IslamicProfitCalculation is a standalone web-based solution that can be integrated with any core banking system to calculate and distribute profits in a Sharia-compliant way.

The profit distribution is based on a set of criteria and parameters that are built into the system. The set of services has a built-in control procedure which allows the bank to calculate and distribute profit and manage all types of pools:

  • Web-based tool for management of pools (assets, liabilities, revenues and expenses)
  • Defining sharing ratios at multiple levels and managing effective date of deposits and withdrawals
  • Recalculation of profit of a certain period based on the new average rate; specification of the balance calculation method and redistribution of profit based on minimum period rate
  • Functionality to recalculate profit in case of break of deposit
  • Ability to specify the minimum balance for distribution and minimum profit to distribute
  • Option to accrue profit based on last available declared rate
  • Risk provisions and Profit Equalization Reserves (PER) management
  • Advanced profit payment option
  • Option to pay Hiba
  • Zakat calculation and deduction
  • Management of multiple pools.