IJARAH

 Ijarah, one of the allied products of PIBAS Shariah suite of banking applications, provides a comprehensive platform to cater for both Financial and Operational types of leasing, covering both single and fleet cases. Like most of the other products in the PIBAS e-nhance suite, it is fully integrated with the Core Banking Modules.

Benefits:

• Parameterization facilitates the user banks to tailor the product according to their requirements
• Enhances Operational Efficiency
• Provides Tools to Monitor and Control Risks
• Improves Customer Service
• Enables Standardization & Reliability of All Financial Calculations
• Fully Automates All Voucher Generation at Different Stages of Lease Cycle
• Provides Tools to Monitor Performance of:
  • Credit Officers
  • Recovery Officers
  •  Account Officers
• Empowers the User to Generate MIS Reports Through Dynamic Report Generation Facility
• Facilitates Management of Loans Through Dynamic Document Generation Facility

Features:

• Along with Business Relationship and Account Management, this System Could be Interfaced with any application system
• Business Centric Information of Borrower and Guarantor, etc
• Multi Branch
• Single and Fleet Cases Handling
• Makes Available Non-financial Information for Marketing and Tracking
• Provides Cushion / Grace Period for Rentals/Repayments
• Facilitates Proposal Generation:
  • Specific to a Particular Customer
  • General Proposals
• Provides Facility to Categorize Asset to be Leased
• Covers Full Takaful / Insurance Life Cycle of the Lease
• Provides Facilities for:
  • Dealer Management
  • Post Dated Cheque (PDC) Maintenance
  • Generation of Schedule (Annuity Based, Staggered)
• Maintains Delivery Schedule for the Leased / Rented Asset
• Provides Check List of Documents Required
• Facilitates Early Termination or Partial Payment
• Gives Elaborated Life Cycle of Lease from Prospect State
• Provides Facility for Application Submission and Processing
• Facilitates Proposal Generation
• Generates Contracts
• Assists in Disbursement and Delivery of Leased / Rented Asset
• Permits Rental Through Post Dated Cheques
• Allows Advance Rental Repayments
• Automates Rental Deductions
• Provides Facilities for Termination and Repossession etc