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Functionality of Kastle Core Banking


Deposits, loans, utility bill payments, general administration, customer information, domestic and foreign remittance, inventory management, budget and expense management, general ledger and fixed assets and collateral management with multi-currency, multi-branch and multi- lingual support. Corporate banking, Islamic banking. The trade finance functionality of the product covers import and export letters of credit, bills, discounts and collections, guarantees. CRM module, reports and analytics.


Number of known Islamic users for Kastle Core Banking: None Total number of known users for Kastle Core Banking: 7


Functionality of Kastle Universal Lending


Origination, servicing and collection for retail and corporate lending, plus automotive, home equity, project financing, SME finance and microfinance. Approval processing and automation of the loan acquisition and repayment lifecycle. Account servicing and automation of the collection cycle. Collateral management. Integrated document management and archiving. Statutory and compliance reporting module. Credit risk rating module. Integrated mortgage portal. Wadiah Yad Dhamanah (savings with guarantee), Mudarabah (profit-sharing), Bai’ Bithaman Ajil (deferred payment sale), Musharakah (joint venture), Murabaha (cost plus), Bai’ al-Dayn (debt trading), Ijara Thumma al-Bai’ (leasing and subsequent purchase), Ijara (leasing), Qard Hasan (benevolent loan), Bai’ as-Salam (future delivery), Bai’ Al-Istijrar (supply contract), Kafalah (guarantee), Ar-Rahnu (pawn broking), Wakalah (nominating another person to act), Hiwalah (remittance), As-Sarf (foreign exchange), Ujr (fee), Hibah (gift), Istisna (sale by order), Sukuk, unit trust/REIT system (Kastle was a range of unit trust and REIT capabilities), Islamic capital market products including Islamic commercial papers/ Islamic medium-term notes (ICP/IMTN), Sukuk Murabaha MTN, Sukuk Bai’ Bithaman Ajil fixed rate bonds, Sukuk Istisna MTN, Sukuk Ijara bond, Sukuk Musharakah/Mudarabah, Murabaha revolving financing.


Number of known Islamic users for Kastle Universal Lending: 15 Total number of known users for Kastle Universal Lending: 37


Functionality of Kastle Treasury


Multiple entities, dealing rooms, and portfolios. Personalised dashboard and a dedicated trader workstation to view the complete details of portfolio, FX positions, MTM, Nostro/Cash Positions, etc. FX cash, spot, forward, swaps, MFCs, inward/outward remittance, foreign currency accounts, export bills, i.e. branch level FX transactions. Money market call money, notice money, term deposits, fixed deposits. Securities auctions, bidding, underwriting, IPOs, NFOs, equities, fixed income bonds, discounted instruments, FRBs/FRNs, inverse floaters, ABS, MBS, structured bonds, mutual funds, CBLO, repurchase agreement, and reverse repurchase agreement. OTC derivatives IRS/CCS, FRA, roller-coaster swaps, range accrual swaps, swaps with collation of benchmark, swaps with pay-offs based on comparison of benchmark, zero cost options, standard barrier options, double barrier options, binary options, structured products. Exchange traded derivatives, equity futures and options, index futures and options, commodity futures and options, interest rate futures and options, bond futures and options and option on futures. Middle and back office system to help users in risk management, settlement, identifying deliveries, corporate actions, Nostro management, limit management, messaging and user definable accounting. Integrated with third party systems through an STP framework. Supports investments in Islamic instruments like Mudarabah, Murabaha, Government Investment Issues (GII), Negotiable Instrument of Deposit-i, Islamic private sector securities like Cagmas securities and Khazanah securities, Negotiated Debt Certificates-i, Accepted Bills-i, Wadiah lending, Islamic forwards and Islamic cross-currency swaps.


Number of known Islamic users for Kastle Treasury: None Total number of known users for Kastle Treasury: 42


Islamic Report www.ibsintelligence.com 69


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