pibas shariah: diminishing musharakah
Diminishing Musharakah is now being used extensively in many areas for financing fixed assets such as houses and automobiles. It is used mainly when the bank provides financing to a customer for an asset, the customer then purchases the banks share in the asset over a period time while still complying with the rules of Shariah
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salient features & benefits
- Musharakah Life Cycle Management
- Standardization & Reliability of all financial calculations
- Automated Voucher Generation throughout the Diminishing Musharkah Cycle
- Parameterization of Musharakah products to create a variety of products
- Tools to monitor performance of Credit & Recovery Officers
- Complete follow-up on cases in litigation
- Dynamic MIS Report generation feature
- Complete Musharakah Life Cycle Maintenance including application submission, sanction,
re-sanction, agreement, discard, reject, disbursement, repayment & charges posting - Flexible Generation of Schedule
- Early Termination, Partial Payments & Early Payment features
- Rescheduling & Restructuring
- Remission Schemes Management
- Enhances Charges Management with Concept of Penalties
- Classification of Accounts & Risk Management