Product
TEMENOS T24 Islamic Banking
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Product and service specifications
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Overview
Designed for the Islamic banking sector, ' TEMENOS T24 for Islamic banking' is both Sharia-compliant and commercially flexible, enabling banks to offer a competitive range of Islamic financial products.
Our product supports banks which operate solely on Islamic principles, and it also allows conventional banks to employ Islamic financial techniques in their banking, for example by giving a profit-sharing framework as an alternative to interest rate mechanism. T24 for Islamic banking is well-suited to most Retail and Corporate banking operations as a readily available solution.
Clients using T24 for Islamic banking benefit from adopting one core system to cover all aspects of conventional and Islamic banking. This ensures that a bank can maintain a tight control over its operational costs and can remain focussed on serving its customers in the most appropriate and effective manner.
T24 for Islamic banking functionality comprises:
Murabaha
Musharaka
Bei Bithaman Ajil
Ijara
Bei Salam
Istisnaa
Wakala
For further information contact sales@temenos.com
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