Over the years, Sukuk or Islamic bond securities have emerged as an increasingly important class of asset. These products have a number of objectives and enable organizations to raise capital in a Shari'ah-compliant fashion, whilst at the same time expanding the investor base and offering investment opportunities to new groups. Islamic investment can be structured in a number of complex ways and new products are being consistently developed and introduced.
ETHIX-Sukuk is a comprehensive and highly customized system which enables banks and investment institutions to manage the full cycle of Sukuk issuance and trading.
For the purpose of issuing Sukuk and managing the shareholders, ETHIX-Sukuk system provides maximum flexibility to set up separate legal entities (SPV) with assets and liability structures.
ETHIX-Sukuk Features
Cash dividend: ETHIX-Sukuk covers a wide array of cash dividends transactions such as dividend payment, dividend declaration and dividend distribution amongst Sukuk holders. ETHIX-Sukuk allows the flexibility to distribute cash dividends by total amounts, by units or by percentage.
Profit accrual: ETHIX-Sukuk offers two types of profit accruals; profit accruals based on full principal or diminishing principal, and automatic profit accruals based on the accrual scheduler.
Coupon payment: Coupon payment transaction can be used in payment for profit only, payment for profit and principal or customizable payment schedule.
Net Asset Value (NAV) processing: Net Asset Value (NAV) can be processed either based on a scheduler or manually by the user.
Discover endless benefits with ETHIX-Sukuk:
- ETHIX-Sukuk offers provision for a centralized customer information base
- Security and access privileges are by roles, groups, operators, screens, actions or steps to the various field levels
- Dynamic and customised work-flow
- Integrated to Core Banking and other modules
- Multi-currency transactions
- Wizards and template-driven transactions and processes
- Enabled with ad-hoc as well as automatic scheduler processing
- Customised accounting entries based on user defined accounting templates.
- Offers easy data access
- ETHIX-Sukuk allows total ease in setting up new fields and third party integrated parameters
- System provides real-time consolidated information at all levels
- Built in compliance with industry standards and best market practices
- Full flexibility allows a company's IT department to respond quickly and efficiently
- Use of parameters, expression builder, query builder and formula columns
- Friendly deploy and upgrade functions
- Audit trail and transaction journal with different levels of access privileges for creation, verification, approval, reversal and much more
- Modular Platform based service. This service comprises of a set of components and sub-systems which are shared across multiple modules and increases the consistency of data and security over operations across the system
- Introduce business control models where all business products are linked to each other. This allows the front-end user to create generic rules for operating the business
- The setup allows a user to create rosters and to develop calculation methodologies
- The profile setup defines the default levels and allows users to gain detailed information at various levels across the system
- Massages and Alerts - where a notification can be set up in a form of (Email, SMS, System inbox)
