7. Account Creation

Finance Accounts in the Islamic Financing module represent the receivable accounts that you create while disbursing finance. These accounts derive their feature from the Finance Product. Finance Accounts are mapped to the Asset GL through the accounting Role LOAN_ACCOUNT. This role has to be mapped to the respective Asset GL of the Bank. You can override some product features at the account level

This chapter contains the following sections:

.The system allows you to do the following actions on the Finance accounts:

7.1 Account Details/Light Finances

This section contains the following topics:

7.1.1 Creating Account Details/ Light Finances

The account screen accepts the Customer, Currency and Amount Financed and creates a Light Finance. This is a default Finance that takes all other details from the defaults the product provides. For creating simple accounts in the Islamic Financing module, you can follow this simple process. These Finances are called Light Finances in the Islamic Financing module. You can invoke the ‘Islamic Account’ screen by typing ‘CIDACCNT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can specify the following in the Account Details screen:

Branch Code

The system displays the branch code.

Product Code

Specify the product code. Alternatively, you can select product code from the option list. The list displays all valid product code maintained in the ‘Product Definition’ screen.

Account Number

Specify the account number of the customer.

Alternate Account Number

Specify the alternate account number. It can be an account number in the existing system from which the account has migrated to Oracle FLEXCUBE.

Additional Details

Application Number

Specify the application number.

Note

This is applicable only if the origination of the finance is in Oracle FLEXCUBE or is inter­faced.

User Reference

Specify the user reference number.

Product Description

The system displays the description for the selected product code.

Product Category

The system displays the product category in this field.

Version Number

The system displays the current Version Number of the account. A new version number is created when changes like Roll over, Amendment are made to a finance.

User Defined Status

Specify the user defined status.

Derived Status

Specify the derived status.

Securitization status

Select the securitization status from the drop-down list. The list displays the following values:

Fund ID

Specify the fund ID. Alternatively, you can select fund ID from the option list. The list displays the valid fund ID maintained in the system.

7.1.2 Main Tab

Click ‘Main’ tab in ‘Islamic Account Details’ screen.

Contract Details

You can specify the following contract details:

Book Date

The system displays the booking date.

Value Date

Select the value date from the adjoining calendar.

Currency

Specify the currency code. Alternatively, you can select currency code from the option list. The list displays all valid currency code maintained in the system.

Asset/Investment Details

Total Asset Value

Specify the total asset value.This is a mandatory input.

Takaful Cost

Specify the takaful cost here.

Maintenance/Other Cost

Specify the maintenance or other cost here.

Asset Type

Select the type of asset from the drop-down list. The list displays the following values:

Customer Details

You can specify the following customer details:

You can specify the following customer details:

Customer ID

Specify the customer ID. Alternatively, you can select the customer ID from the option list. The system displays all valid customer ID maintained in the system.

Customer Name

The system displays the name of the customer for the selected customer ID.

Total Sale Value

Specify the total sale value.

The system displays the total of principal and profit amount as of initiation date. If ‘Recompute schedule on IRR’ field is checked in the ‘Product Maintenance’ screen for the linked product and if you specify the balloon amount, the system will compute this value as the sum of principal, normal profit, balloon principal and balloon profit.

Financing Details

Down Payment Amount

Specify the down payment amount details. This amount will be derived from total asset value, by applying the down payment percentage to it.

Down Payment %

Specify the percentage of down payment amount.

Amount Financed

The financed amount is displayed here.Amount finance will be derived as:

Amount Finance = Total Asset Value + Total Cost + Maintenance/Other Cost - Down payment Amount.

Staff Finance

Specify the staff finance details.

Repayment Terms

No of Installments

Specify the number of installment for repaying the loan.

Unit

Select the unit of repayment from the drop-down list. The list displays the following values:

Frequency

Specify the frequency of repayment of loan.

Installment Start Date

Select the installment start date from the adjoining calendar.

Due Date On

Specify the installment due date.

Maturity Type

Select the type of maturity from the drop-down list. The system displays the following values:

Maturity Date

Select the scheduled maturity date of the finance from the adjoining calendar.The tenor can also be entered to compute the Finance Maturity Date.

Tenor

Specify the loan tenor.

Note

If you enter the tenor or maturity date for the account before doing the product default then system will not default the details from product but will consider the details you have en­tered for schedule calculation. In this case all the schedules will be built so as to fit within the tenor or maturity date that you have entered.

During account save, if repayment details are provided, then the profit schedules will be build based on the following details:

Profit B schedules will be built based on the provided details. Installment start date will be the first due date for the profit B schedule, other consecutive schedules will be built based on the end date of Profit A.

The installment start date entered has to be greater than the profit A schedule end date. Profit A schedules like construction period, handover period or grace period are built before the installment start date.

EMI Amount

Specify the EMI amount details.

First Pay By Date

Select the first payment date from the adjoining calendar.

Other Details

Future D/P Receivable

Specify the future D/p receivable details.

Wakala Reference

Specify the Wakala reference number. Alternatively, you can select wakala reference number from the option list. The list displays all valid Wakala reference number maintained in the system.

Note

While booking the Murabaha account the system will calculate the profit amount for the Wakala period, which is linked with Wakala account.

Total Principal Outstanding

The system displays the total outstanding principal details.

Net Principal

The system displays the net principal details.Calculate Gross Principal

Check this box to calculate the gross principal.

Click ‘Product Default’ button to view the product details.

Balloon Payment Details MurabahaBalloon %

Specify the balloon percentage value between 0 to 100.

Balloon Amount

The system calculates the balloon amount based on the given balloon percentage and amount financed.

Balloon Rollover Instalments

Specify the required number of instalments for the balloon rollover period.

Balloon Rollover Unit

Select the type of balloon rollover instalments. The list displays the following values.

Exclude Instalment from Balloon

Check this box to exclude the regular instalments in the balloon schedule.The last schedule due will be the balloon amount. If this check box is selected then balloon rollover facility is not allowed.

If the check box is not selected, the balloon amount is added to regular schedule due for the last instalment.

Note

Balloon Rollover Required

Check this check-box , if the balloon amount is required to be rolled over.Grace Period

Customer Grace Period

Specify the customer grace period.

Frequency

Select the frequency of grace period from the drop-down list. The list displays the following values:

Supplier Grace Period

The system displays the supplier grace period and frequency for Murabaha contracts maintained at the product level, based upon this period the first installment date of the finance contract will be derived. However you can modify it. After modification you can edit and explode the schedules from the ‘Components’ tab. The modified schedules will be displayed after explode.

Frequency

The system displays customer grace period and frequency for Murabaha contracts maintained at the product level, based upon this period the first installment date of the finance contract will be derived. However you can modify it. After modification you can edit and explode the schedules from the ‘Components’ tab. The modified schedules will be displayed after explode.

Select the frequency of grace period from the drop-down list. The list displays the following values:

Construction Details Istisnaa/Forward Ijarah/Musharaka UC

Original Construction End Date

The system displays original construction end date.

Construction End Date

Select the construction end date from the adjoining calendar.

The nominal disbursement schedule end date should not be greater than construction end date. Principal disbursements should not happen beyond this date.

Note

System considers the construction end date for calculating the maturity date and tenor.

Window of Repayment

The system defaults the window of repayment units from the Islamic product preference screen. You can modify it.

Frequency

The system defaults the window of repayment frequency from the Islamic product preference screen. You can modify it.

Handover Applicable

The system defaults the property handover value based on the maintenance in the Islamic Product Preference (CIDPRMNT) screen. You can modify the defaulted value.

Handover Date

Select the handover date on which the property is scheduled to be handed over from the adjoining calendar.

This date should be greater than or equal to the construction end date.

If there is no payment schedule on this date, the system will display an error message while saving the account.

Handed Over

Check this box if the property is handed over.

Musharaka/Mudarabah Contribution Details

Bank Share %

Specify the percentage of bank share.

Customer Share %

Specify the percentage of customer share.

Effective Date

Effective Date

Select the effective date from the adjoining calendar.

The effective date is used to pick the UDE value and apply it for the given period. The system displays this date from the ‘General UDE Maintenance’ screen.

For a product + currency combination, if the UDE values are not maintained for the effective date, then the system defaults ’0‘. You can edit it. You can maintain different effective dates for the same UDE with different values. For instance, you can give different effective dates for different rate types maintained for the moratorium UDE.

User Defined Element Values

The UDE values for each account are maintained here. After clicking the ‘Product Default’ button, the UDE values default from the UDE values maintenance for the Product, Currency, effective dates combination. The system disables this section. These can be overridden by providing account level UDE values. For this, you need to click the ‘Edit User Defined Element’ button. After changing the details, the system re-computes the schedules. On saving the contract, the system prompts the changed details.

However the UDE are only those defined at the product level. No new UDEs can be introduced at the account level.

The system checks whether the UDE values fall within the minimum and maximum limits specified for the UDEs linked to the product. If a UDE value falls outside the permissible limits, the system will throw an error message,

If there are no product level UDE values maintained, the system will default the UDE value to Zero. However, at the time of saving, if UDE values are zero or any invalid value, then an override will be raised with an appropriate error message. If required this can be configured as an error message. In case of an ERROR, you will have to give a valid value. While if it is an OVERRIDE, you can overlook the message and continue and if it is for an ONLINE AUTHORIZATION the parameter should be authorized appropriately.

Click ‘Edit User Defined Element’ button to edit the user defined element value.

Note

User Defined Element ID

Specify the user defined element ID. Alternatively, you can select user defined element ID from the option list. The list displays all valid UDE ID maintained in the system

User Defined Element Values

Specify the Actual Value for the UDE based on the effective Date.

The value specified here should fall within the minimum and maximum limits maintained for the UDE linked to the underlying product.

Note

Input to this field is mandatory if you maintain a UDE.

Rate Code

Specify the rate code for the Floating Rates if any and the spread on it applicable. Alternatively, you can select rate code from the option list. The list displays all valid rate code maintained in the system.

Code Usage

Select the Code usage from the drop-down list. The list displays the following values:

Rate Basis

Select the rate basis from the drop-down list. The list displays the following values:

Resolved Value

The system displays the final value of a UDE. The system calculates the resolved value as follows:

Resolved value = Rate code value taken from Floating Rate Maintenance + the spread [UDE Value].

7.1.3 Preferences Tab

The defaults are maintained by the bank. Depending upon the combination of various preferences, the bank can have various account preferences. The defaults primarily are based on product definition and can be overridden. Click ‘Preferences’ tab in ‘Islamic Account Details’ screen to invoke the following screen:

You can specify the following details:

Amend Past Paid Schedule

This preference determines if you can modify any feature such as profit rate, installment amount which affects already paid schedules. If you select this is option then the paid schedules are recalculated and liquidations on them are recognized as pending as appropriate.

Recalculate Annuity On Disbursement

Check this box to recalculate the annuity amount on disbursement.

Stop Disbursement

Check this box to stop the disbursement.

Finance Statement Required

Check this box if finance statement is required.

Rescheduling Allowed

Check this box if rescheduling is allowed.

Allow Multi Party

If you select this option, the system will allow you to capture of contractor details.

This is applicable for Istisna Accounts only. You can capture the contractor details by clicking ’Party Details’ button in the ‘Account Details’ screen to invoke the ‘Party Details’ screen. It will show the contractor details.

Status Change Mode

Select the mode of status change. The options are as follows:

Retries Advice Days

The system displays the number of retries for an advice maintained in the product maintenance level. You can amend this value.

The value should be less than the value maintained for ‘Retries Auto Liquidation Days’.

Subsidy Customer Id

Specify the subsidy customer ID. Alternatively, you can select customer ID from the option list. The list displays all valid customer ID maintained in the system.

Multiple Down Payment Required

Check this field to do multiple down payments.

You can check this field only when ‘Auto Disbursement’ option is selected at product level.

Re-Schedule Amortization on Final Disbursement

Check this box to re-schedule the amortization on final disbursement.

Liquidation Details

Liquidation Mode

Select the mode of liquidation from the drop-down list. The list displays the following values:

Reset Retry Count for Reversed Auto Liquidation

Check this box to reset retry count for reversed auto liquidation.

Partial Liquidation

Check this box to allow partial liquidation.

Retries Auto Liquidation Days

When auto liquidation option is chosen and funds are not available, the number of times the system can retry auto liquidation is determined by this field.

If blank, the number of retries is infinite.

Retries Advice Days

The system defaults the number of retries for an advice from the product maintenance level. You can amend this value.

The value should be less than the value maintained for ‘Retries Auto Liquidation Days’.

Liquidate Back Valued Schedules

Check this box to liquidate the back valued schedules.

If you select this option, on initiation of a back value dated finance, all the schedules with a due date less than the system date will be liquidated.

Close Collateral

Check this box if you need to close the collateral automatically on full payment, during auto liquidation.

Use Guarantor for Repayment

This is defaulted from product level. If this box is checked it indicates that the guarantor account can be used for settlement. You can edit this field. .

Allow Bulk Payment

Check this box to allow bulk payment.

Allow Block for Salary

Check this box to allow block for salary.

Note

Limit Days for Settlement

On settlement processing, system considers the limit days maintained at account level for the guarantor accounts and other CASA accounts for settlement.

Other Customer Accounts

Specify the limit days for considering other customer accounts for settlement.

Guarantor Accounts

Specify the limit days for considering guarantor accounts for settlement.

Track Receivable

If you select this option, it tracks the amount to be liquidated as a receivable if funds are not available. So upon any subsequent credit, the receivables are blocked and allocated to the pending liquidation.

Auto Liquidation

Check this box to allow auto liquidation.

Credit Details

Rule Name

Specify the Rule name. Alternatively, you can select rule name from the option list. The list displays all valid rules maintained in the system.

Automated Score

The system defaults the automated score.

Credit Score

Specify the credit score.

Click ‘Score’ button to display the credit score.

Finance Notices

Finance Settlement Request

Check this box to request for finance settlement.

Notice Date

The system displays the notice date.

Expected Closure Date

The system displays the expected closure date.

Takaful Details

Takaful Required

Check this box if Takaful details are required.

Takaful Company

Specify the Takaful company name. Alternatively, you can select Takaful company name from the option list. The list displays all valid Takaful company name from the option list.

Provisioning Preference

You can define the provisioning preference of loan accounts by selecting the required option in Provisioning Mode.

Provisioning Mode

Select the Provisioning Mode preference of loan accounts from the drop-down list. The list displays the following options:

The provisioning mode option will get defaulted from Product level. However, you can switch between Auto to Manual mode or vice versa, but cannot change the mode as “Not Applicable” if defined as either Auto or Manual mode.

It is mandatory to select the provisioning mode as either ‘Auto’ or ‘Manual’ if CL product is created with a provision component. If CL product does not have provision component, then provisioning mode should be selected as 'Not Applicable'.

Renegotiation Details

Maximum Renegotiations

Specify the maximum number of renegotiation allowed for the account.

Note

If maximum renegotiation is not maintained, the system will perform renegotiation without any restrictions. If the maximum renegotiation value is given as ‘zero’, system will display an override message in the first renegotiation itself.

Renegotiation No

The system displays the renegotiation count. This is the number of renegotiations that are already performed on the account.

Credit Bureau Details

Credit Bureau Agency Code

Specify the credit bureau agency code. Alternatively, you can select agency code from the option list. The list displays all valid agency code maintained in the system.

External Credit Score

Specify the external credit score.

Pre-Shipment Reference

LC Reference No

Specify the LC reference number. Alternatively, you can select LC reference number from the option list. The list displays all valid LC reference number maintained in the system.

Purchase Order Ref No

Specify the purchase order reference number.

Holiday Periods

Period

Specify the holiday period. Alternatively, you can select holiday period from the option list.The list displays all valid holiday period maintained in the holiday period maintained in the system.

Bill Details

Packing Credit

Check this box include packing credit details.

Trade Reference

Specify the trade reference value. Alternatively, you can select trade reference code from the option list.The list displays all valid trade reference code maintained in the holiday period maintained in the system.

Amount Available

Specify the amount available.

Intermediary Details

You can capture the Intermediary Details at the finance account level to keep track of the accounts created through Intermediaries. Islamic account details screen allows linking of multiple intermediaries to a single finance. In case of multiple intermediaries, you need to maintain the applicable intermediary percentage against the finance.

Intermediary Code

Specify the intermediary code. Alternatively, you can select intermediary code from the option list.The list displays all valid intermediary code maintained in the holiday period maintained in the system.

You can link multiple intermediaries along with the respective percentage for the individual intermediary against the finance amount.

Intermediary Name

The system displays the intermediary name for the selected intermediary code.

Intermediary Ratio

The system displays the intermediary ratio. You can amend this value.

Note

Sum of intermediary’s ratio need not be equal to 100.

Overdraft Details

Use Existing Over Draft Account

Check this box to use existing over draft account details.

Overdraft Branch

Specify the overdraft branch code.

Overdraft Account

Specify the overdraft account details.

Overdraft Rebate Rate

Specify the overdraft rebate rate.

Overdraft Rate Code

Specify the overdraft rate code.

Amount Block Details

Amount Blocked

Check this box to indicate whether any amount block has to be created on the settlement account during the disbursement of the finance.

Amount

Specify the amount that needs to be automatically blocked.

Remarks

Specify the remarks for the amount blocked.

7.1.4 Components Tab

Clicking against ‘Components’ tab in the ‘Account Details’ screen invokes the following screen:

You can specify the following details for the components:

Component Name

The components defined for the selected product get defaulted here.

Calculation Type

The system displays the calculation type.

Component Currency

The system displays the currency associated with the component. The component currency is defaulted from the Product level.

Settlement Currency

The system display the settlement currency code.

Liquidation Mode

The system defaults the mode of liquidation from the product level. However you can modify the same to indicate the mode of liquidation of the component from the drop-down list. The following options are available for selection:

Note

This is applicable only if ‘Liquidation mode’ is selected as ‘Component’ at the account pref­erence level.

Penal Basis Component

The system displays the basis for calculating compensation component in this field.

Service Branch

The system displays the service branch code.

Service Account

The system displays the service account details.

Special Profit Amount

Enter the amount for the special profit in this field.

When a value-dated change is made to decrease the account maturity date, outstanding amount in profit and principal is equally divided and added to the remaining schedules. In such cases, the system displays the outstanding profit amount in this field.

Verify Funds

The system selects this box in the product level in this field.

Internal Rate of Return Applicable

The system selects this box in the product level in this field.

Special Component

The system selects this box in the product level in this field.

Main component

The system selects the component of the finance designated as main component in the product level in this field.

Equal Profit

The system selects this box in the product level in this field.

Schedule Definition

Schedule Type

Select the type of schedule from the drop-down list. The list displays the following values:

Schedule Flag

Select the schedule flag from the drop-down list. The list displays the following values:

Note

Formula

Specify the formula.

First Due Date

Select the first due date from the adjoining calendar.

Schedule Start Date

Select the schedule start date from the adjoining calendar.

No of Schedules

Specify the number of schedules.

End Date

Select the end date from the adjoining calendar.

Frequency

Specify the frequency details.

Units

Select units from the drop-down list. The list displays the following values:

Due Date On

Select due date from the adjoining calendar.

Amount

Specify the amount details

EMI Amount

Specify the EMI amount.

Compound Days

Specify the compound days.

Compound Months

Specify the compound days.

Compound Years

Specify the compound days.

Days in Month

Select the days in month from the drop-down. The list displays the following values:

Years

Select the years from the drop-down. The list displays the following values:

Down Payment Amount

Specify the down payment amount.

Down Payment Mode

Select the mode of down payment from the drop-down list. The list displays the following values:

Payable Account

Specify the payable account.

Exchange Rate

Specify the exchange rate.

Payable Account Currency

Specify the payable account currency code.

Payment Mode Details

The system defaults the values from the payment mode details specified in the ‘Account Details - Main’ screen. However, you can modify this if you have checked the option ‘Allow Corporate Access’ in ‘Branch Parameters – Detail View’ screen. The options for debit mode are CASA, Credit Card, Debit Card, Clearing, External Account, Electronic Pay Order, Internal Check, Instrument, GIRO and Cash/Teller.

The options for credit mode are CASA, Clearing, External Account, Instrument, and Cash/Teller.

The values in these modes are:

The card must be a valid card whose number can be checked with a modulo logic or maintenance file.

Note

The system will allow you to specify the credit and debit payment modes only if you have checked the option ‘Allow Corporate Access’ in the ‘Branch Parameters – Detail View’ screen. If you have not checked the option, the system will default the values as main­tained in the fund branch account. You will not be allowed to modify this.

7.1.5 Guarantor Details/ Other Accounts Button

While booking an account, you can capture the guarantor’s accounts along with the default settlement account. In case of insufficient funds in the default settlement account during any liquidation event, the system will utilize funds from the customer’s current or savings account. If funds are still insufficient, the system will look into the guarantor’s accounts instead. You can have multiple guarantors for an account. The system will check for funds in all the accounts of one guarantor and go to the other only if the schedule is not liquidated fully.

You can capture the guarantor and guarantor account details in the ‘Guarantor Details’ screen. To invoke this screen, you need to click ’Guarantor Details/ Other Details’ button in the ‘Account Details – Component’ screen

Account

The system displays the account details.

Component Name

The system displays the name of the component.

Guarantor Details Tab

Here you need to specify details of the guarantor accounts that have to be considered for settlement. These accounts will be considered only if the schedule amount has not been covered by the funds available across all current and savings accounts belonging to the guarantor CIF specified in the above section. Click ‘Guarantor Details’ tab to specify the guarantor details.

Guarantor Customer

Sequence No

This is a display only field. It will indicate the order in which the guarantor’s accounts will be considered for settlement, until the full settlement amount gets covered by the funds available.

Customer Number

Specify the customer number. Alternatively, you can select customer number from the option list. The list displays all valid customer number maintained in the system.

Customer Name

The system displays the customer name.

Guarantor Customer Account

Sequence No

This is a display only field. It will indicate the order in which the guarantor’s accounts will be considered for settlement, until the full settlement amount gets covered by the funds available.

Account Number

Here you can specify the account number that should be considered as the guarantor account for settlement. You can select the account number from the option list which will display all open Current and Savings Accounts.

This account will be debited if the other accounts belonging to guarantor CIF ids are not able to meet the required amount.

Note

Advice generation for guarantor’s accounts, if debited, will be processed following split set­tlements process.

Account Branch

The system displays the branch in which the chosen account resides.

Currency

This is a display only field. The guarantor account currency will be defaulted here.

Other Accounts Tab

Here you need to specify details of the account number that have to be considered for settlement. If funds are not available in the primary settlement account, the system will consider the guarantor accounts and other accounts belonging to the counter-party after a certain specified period from schedule date.

Sequence Number

The system displays the sequence in which the mapped account should be considered for settlement.

Account Number

Specify the account number. Alternatively, you can select account number from the option list. The list displays all open and active current and savings account where the customer is the primary holder.

Account Description

The system displays the description for the selected account number.

Account Branch

The system displays the branch of the selected customer account number.

Currency

The system displays the currency code of the selected customer account number.

The system will check for duplicate entry and also will validate if the mapped accounts are mapped in debit settlement mode tab of the settlement mode sub screen. If yes, then the system will display an error message.

Processing Settlement Payment

The system should consider primary settlement account and guarantor account for liquidation after limit days maintained for guarantor accounts.

You can specify the period after which the system should consider guarantor accounts for settlement.

Settlement by guarantor accounts and other customer accounts is applicable only for auto liquidation.

During liquidation, if the fund is insufficient in the primary settlement account (after considering cover accounts) then the system will consider other guarantor accounts and other customer accounts for settlement as follows:

(Assuming the days maintained for other accounts to be N1 and days maintained for guarantor accounts to be N2)

Up to N1 days, the system will consider Primary settlement account

After N1 days, the system will consider Customer other current/savings accounts depending on the sequence maintained

After N2 days, the system will consider Guarantor CIF’s current/savings accounts on the sequence maintained

Holiday treatment will not be applied for applying the limit days.

The settlement processing for different combinations of the various account parameters are given in a tabular format as follows:

Application Date –Schedule Date

Verify Funds

(Component level)

Partial Liquidation

(Account level)

Liquidation Processing

< Limit Days for other cus­tomer accounts(N1)

Y

Y

Check whether funds are available in the primary settlement account.

If it is not sufficient, then partial liquidation will happen for the available amount, and the rest of the amount will be marked for track receivable in primary

On any credit on the primary settlement account, the amount will be blocked in the account and will be marked as receivable. On EOD the amount will be liquidated.

Y

N

Check whether funds are available in the primary settlement account. If it is not suffi­cient, then the entire liquidation amount will be marked for track receivable in primary settlement account. The amount which is available in primary settlement account will be blocked as receivable.

On any credit on the primary settlement account, the amount will be blocked in the account and will be marked as receivable. On EOD the amount will be liquidated only if full due amount is available.

N

Y/N

The amount will be force debited from the primary settlement account.

If the amount is not sufficient the account will go overdraft.

If due to some reason the debit fails (like the override AC-OVD02 is marked as error or overdraft facility is not available for the account) track receivable will not be marked. On the next liquidation date if the number of days between the liquidation dates and the due date is less than N1 days the system will consider only primary settlement account for liquidation.

>=Limit days for other cus­tomer accounts(N1) and < Limit Days for guaran­tor(N2)

Y

Y

Check whether funds are available in the primary settlement account. If it is not suffi­cient, you need to check in the secondary accounts.

If funds are available in the secondary account for the due amount, liquidation will happen by debiting the customer account.

If the amount is not sufficient, partial liqui­dation will happen for the available amount.

The track receivable marked if any, for the primary settlement account will be updated for the unpaid amount.

Y

N

Check whether funds are available in the primary settlement account. If not sufficient, will check in the secondary accounts.

If funds are available in the secondary account for the due amount liquidation will happen by debiting the customer account. If the amount is not sufficient, liquidation will not happen.

The track receivable marked if any, for the primary settlement account will be updated for the unpaid amount if any.

N

Y/N

The amount will be force debited from the primary settlement account.

If the amount is not sufficient the account will go overdraft.

If due to some reason the debit fails (like the override AC-OVD02 is marked as error or overdraft facility is not available for the account) track receivable will not be marked.

On the next liquidation date if the number of days between the liquidation date and the due date is greater than or equal to N1 days and less than N2 days the system will consider primary settlement account and other current and savings accounts of the customer which are mapped to the CI account in the order of sequence for liqui­dation.

>= Limit Days for Guaran­tor(N1)

Y

Y

If the fund is not sufficient in primary settle­ment account (including cover account) system will check secondary accounts and guarantor accounts

If funds are available in the secondary account or guarantor accounts for the due amount, liquidation will happen by debiting the corresponding account.

If the amount is not sufficient, partial liqui­dation will happen for the available amount. The track receivable marked if any, for the primary settlement account

Y

N

If the fund is not sufficient in primary settle­ment account (including cover account) system will check in secondary accounts and guarantor accounts.

If funds are available in the secondary account or guarantor account for the due amount, liquidation will happen by debiting the corresponding account.

If the amount is not sufficient, liquidation will not happen.

The track receivable marked if any, for the primary settlement account will be updated for the unpaid amount if any.

N

Y/N

The amount will be force debited from the primary settlement account.

If the amount is not sufficient the account will go overdraft.

If due to some reason the debit fails (like the override AC-OVD02 is marked as error or overdraft facility is not available for the account) track receivable will not be marked.

On the next liquidation date if the number of days between the liquidation date and the due date is greater than or equal to N2 days the system will consider primary set­tlement account, other current and savings accounts of the customer and guarantor account which are mapped to the CI account in the order of sequence for liqui­dation

 

The above mentioned changes are applicable for the following function IDs:

7.1.5.1 Settlement Mode

Click ’Debit Settlement Mode’ tab after clicking ‘Payment Settlement Mode’ button in the ‘Account Details – Components’ screen.

Dr Prod Ac

Specify the product/account used to debit the finance account in this field.

Dr Acc Brn

Click on the option list to choose the branch of the customer account which is to be debited. Double click on a value to select it.

Click ’Credit Settlement Mode’ tab after clicking ‘Payment Settlement Mode’ button in the ‘Account Details – Components’ screen

 

Here you need to specify the following details:

Cr Prod Ac

Enter the details of the product/account used to credit the finance account in this field.

Cr Acc Brn

Click on the option list to select the branch of the customer account which is to be credited from the list of values.

Double click on a value to select it.

Service Branch

Click on the option list to select the branch the services the customer account.

Double click on a value to select it.

Service Account

Click on the option list to select the account in the service branch.

Double click on a value to select it.

All modes except CASA needs service account. Adjustments, etc. will be settled through this account.

IRR Applicable

Check this option to indicate that the component is to be considered for IRR calculation for the account. This field is applicable to profit, charge and fee components. For adhoc charge, charge, compensation and prepayment compensation components, the value will be defaulted from the product level and you will not be able to modify it.

This field will not be available for input if ‘Accrual Required’ and ‘IRR Applicable’ are left unchecked at the product level.

Note

Funded during Rollover

Select this option if the component can be funded during the rollover process.

Funded During INIT

This field indicates if the component can be funded during the INIT event.

Original Exchange Rate

The base or actual exchange rate between the account currency and settlement currency gets displayed here.

Exchange Rate

For a customer availing any Relationship Pricing scheme, the customer specific exchange rate derived by adding the original exchange rate and the customer spread maintained for the relationship pricing scheme gets displayed here.

You can change the defaulted rate provided the change is within the variance level maintained for the underlying product.

If Relationship Pricing is not applicable, Exchange Rate will be the same as the Original Exchange Rate.

For more details on customer specific exchange rates, refer the section titled ‘Specifying Pricing Benefit Details’ in Relationship Pricing user manual.

7.1.5.2 Maintaining Schedule Details

Specify the following details.

Type

Select the type of schedule from the option list. Schedule can be a payment, a disbursement or a rate revision schedule.

Schedule Flag

Select the option for the Schedule flag from the option list.

The options are Normal or Moratorium.

Select the option Moratorium if there are no scheduled repayments for the component for the Moratorium period. However the component is accrued for a certain Moratorium period.

Formula

Enter the formula used to compute the component for that schedule.

First Due Date

Enter the first due date for the schedule for the component. The first due date can be defined based on the value date for the finance or a calendar date.

Note

Amortization schedule start date added with a given frequency in ‘Maturity Details’ screen, will give the first due date.

No.

Enter the number of times the schedule is repeated for a chosen frequency for the schedule. If the Frequency is Monthly and Number is 1, it implies once a month.

Freq

This implies the number of times the schedule will repeat for a Unit. If it is 2 and the Unit is Monthly, it implies twice a month.

Unit

Enter the installment unit for the component for the schedule. The units of frequency definition can be Daily, Weekly, Bullet, Monthly, Quarterly, Half Yearly or Yearly.

Select the unit of the schedule from the option list.

Due Date On

This option may be used to schedule an installment on a particular date of the month.

End Date

End date for the component for the schedule will be computed from the start date, frequency, unit and number for the schedule

Amount

The amount of payment done, disbursement or repayment, is displayed in this field.

Capi

Select this option if the schedule amounts are to be capitalized.

Note

The system by default does not select this option.

Waive

Select this option to specify if you need to allow a waiver of the component payments for the schedule.

Note

The system by default does not select this option.

A schedule can be either applicable or capitalized or waived.

Down Payment Amount

Specify the down payment amount for each schedule.

7.1.5.3 Schedule Details

Click ’Explode’ button to view the following Schedule details:

Schedule No

The system generates and displays a sequential schedule number for installments.

Due Date

The system displays the due date of the payments and disbursements in this field.

Amount Due

The system displays the amount due for the schedule in this field.

Amount Settled

The system displays the settlement amount for the schedule in this field.

Emi Amount

The EMI that should be repaid in this schedule is displayed in this field.

Amort Prin

The system displays the principal that has to be amortized in this field. This field will be relevant for the Profit component that is being amortized.

Accrued Amount

In this field, the system displays the amount accrued for the component for the schedule.

Capit

The flag is used to display that the schedule installment is capitalized.

Waive

Select this option to indicate if this particular amount which is due will be waived or not.

7.1.5.4 Editing the Default Schedule

In case of a forward Ijarah having property handover, you need to manually edit the exploded payment schedules for the main profit component. Click ’Edit’ button to make any change to the scheduling and after you have made changes, click ’Explode’ button to see the changes made.

If you select any component and click ’Edit’ button, you can make changes to the schedules which are defaulted from the product to the account. You will have to specify repayment schedules for the profit component during the moratorium period and the handover period.

If you click the ‘Explode’ button, other components will get adjusted according to change made to any of the attribute. The system will also compute the Internal Rate of Return (IRR) on clicking this button. If the box ‘Recompute schedule on IRR’ is checked for the linked product, the system will recalculate schedules based on IRR.

Select the Principal Component. Click on ‘Disbursals’ to see the Disbursal schedule. This gives the list of Schedules for the disbursements and their corresponding Disbursement amounts.

 

You can check the details of the due date of the schedule and the Amount to be disbursed from the ‘Schedule Due Date’ field and the ‘Amount To Disburse’ field respectively.

In this screen, you can also enter the following details of a contractor for each of the disbursals done:

Purpose

Specify the purpose of disbursement from the option list. This can also be maintained in the field ‘Type’ in the ‘Limits Type maintenance’ screen.

CIF Id

Specify the CIF for each contractor from the option list.

Amount

Specify the amount to be disbursed against the CIF Id for the purpose mentioned.

Note

7.1.5.5 Schedule- wise Split Settlement for Auto Disbursement

Oracle FLEXCUBE allows you maintain split details for schedule-wise auto disbursement in a finance account, only if you have set the disbursement mode to ‘Auto’ in the Account Preferences tab of the Islamic Financing Product screen

In the Islamic Account (CIDACCNT) screen, click ‘Product Default’ button after entering product code, customer ID, currency and the amount, to default the product level component and schedule details of the selected product in the component tab of the account details screen.

You can view the disbursement schedule and maintain the schedule- wise finance split details for auto disbursement in the Disbursal screen. To do this, first select the principal component in the component tab and then click on ‘Disbursals’ button.

The system displays the list of Schedules for the disbursements and their corresponding Disbursement amounts.

Schedule Due Date

The system displays the due date of the schedule.

Total Disbursement Amt

The system displays the total disbursement amount for the specified finance account.

Amount to Disburse

The system displays the amount to be disbursed.

Already Disbursed Amt

The system displays the amount which has been disbursed.

Note

Oracle FLEXCUBE allows auto disbursal only for the principal component.

Split Details

You can maintain the following split details:

Percentage

Specify the split percentage of the disbursement amount.

Note

The system displays an error, if the information on amount or percentage is missing.

Amount

Specify the split amount for the schedule. Split amount is calculated based on the percentage and the disbursal amount.

If you specify only the amount and not the percentage, the system calculates the percentage of the amount to be disbursed and displays it in the percentage field.

Note

Settlement Account Branch

Specify the branch of the customer account. The adjoining option list displays the list of valid open branches maintained in the system. You can choose the appropriate one.

Settlement Account Number

Specify the settlement account number. The adjoining option list displays the valid accounts maintained for the given branch. You can choose the appropriate one.

Split sequence number

The sequence number for each split is auto generated by the system on save.

Payment Mode

The system displays ACC as the payment mode for disbursal.

Settlement Account Currency

Once you choose the account number, the currency of the settlement account gets defaulted.

Customer

Once you choose the account number, the customer id gets defaulted.

It is mandatory to re-enter the split settlement details during VAMI, if there is a change in the disbursement schedule. For the disbursed schedules, the split settlement amendment would be ignored during VAMI.

During BOD, the system checks the finance split settlement details before taking the Credit Settlement details of the principal component. The credit settlement details of the principal component /Service account would be considered only in the absence of split settlement details for that particular schedule.

7.1.5.6 Rate Revision Schedule

Select a component which has rate revision defined. To view the details of the Rate revision schedule, click on the ‘Revisions’ button. This lists the details of the revisions done on the Components. This lists the revision date against the component name. This also has an application option which displays if the revision was applied or not.

You can check the details of the name of the component that is revised and the date when it has been revised from the field Component name and Revision date respectively.

7.1.5.7 Maintaining Nominal Disbursal Schedules for Principal Component

If you select the ‘Construction Period Profit Basis’ as ‘Nominal’ in the ‘Product Maintenance’ screen, then it is mandatory to maintain nominal disbursal schedules. Click on the ‘Nominal Disbursals’ button to capture nominal disbursals.

 

Start date

The start date of the Disbursement Schedule is defaulted from the product. However, you can modify this date. The nominal schedule start date should not be lesser than the value date.

End date

The end date of the Disbursement Schedule is defaulted from the product. However, you can modify this date.

The nominal disbursement schedule end date should not be greater than the construction end date.

Amount

The system equally divides the amount financed across number of disbursal schedules and displays it in this field the following scenario.

Purpose

Specify the purpose of disbursement from the option list. This can also be maintained in the field ‘Type’ in the ‘Limits Type maintenance’ screen.

CIF Id

Specify the CIF for each contractor from the option list.

Amount

Specify the amount to be disbursed against the CIF Id for the purpose mentioned.

Note

7.1.6 Charges Tab

This module is used for calculating and applying charges on an account. To calculate the charges that we would like to levy on an account, we have to specify the basis on which we would like to apply charges. For instance, we may want to apply charges on the basis of the debit turnover in an account. When we define a Charge product, we have to specify the Charge basis. When we apply the charge product on an account or an account class, charges for the account will be calculated on this basis

Click ‘Charges’ tab in ‘Islamic Account Details’ screen to invoke the following details:

You can specify the following details:

Component Header

Component Name

Specify the component name.

Click ‘+’ button to specify other necessary details.

Calculation Type

The system displays the type of calculation.

Component Currency

The system displays the currency associated with the component. The component currency is defaulted from the Product level.

Settlement Currency

Specify the settlement currency code. Alternatively, you can select settlement currency code from the option list. The list displays all settlement currency code maintained in the system.

Effective Date

Select the effective date from the adjoining calendar.

Service Branch

Specify the service branch code. Alternatively, you can select service branch code from the option list. The list displays all service branch code maintained in the system.

Service Account

Specify the service account number. Alternatively, you can select service account number from the option list. The list displays all service account number maintained in the system.

Due Date

The system displays the due date.

Amount Due

The system displays the due amount.

Amount Waived

The system displays the amount waived.

Details

Event Code

The system displays the event code.

Amount Settled

The system displays the amount settled.

Schedule Date

The system displays the schedule date.

Click ‘Payment Mode Details’ button to invoke the following screen.

You can specify the following details:

Branch

The system displays the branch code.

Account

The system displays the account details.

Settlement Sequence Number

Specify the settlement sequence number. Alternatively, you can select settlement sequence number from the option list. The list displays all valid settlement sequence number maintained in the system.

7.1.6.1 Credit Settlement Mode Tab

Click ‘Credit Settlement Mode’ tab in ‘Settlement Mode’ screen to specify the following details:

Credit Payment Mode

Select the mode of credit payment from the drop-down list. The list displays the following values:

Credit Product Account

Specify the credit product account number. Alternatively, you can select credit product account number from the option list. The list displays all valid credit product account number maintained in the system.

Credit Account Branch

Specify the credit account branch code. Alternatively, you can select credit account branch code from the option list. The list displays all valid credit account branch code maintained in the system.

Instrument Number Credit

Specify the instrument number of the credit payment.

Upload Source Credit

Specify the upload source code for the credit payment. Alternatively, you can select upload source code for the credit payment from the option list. The list displays all valid upload source code maintained in the system.

End Point

Specify the end point details. Alternatively, you can select end point details from the option list. The list displays all valid end point details maintained in the system.

External Account Number

Specify the external account number.

External Account Name

Specify the external account name.

Clearing Bank Code

Specify the clearing bank code. Alternatively, you can select clearing bank code from the option list. The list displays all valid clearing bank code maintained in the system.

Clearing Branch Code

Specify the clearing branch code. Alternatively, you can select clearing branch code from the option list. The list displays all valid clearing branch code maintained in the system.

Product Category

Specify the product category. Alternatively, you can select product category from the option list. The list displays all valid product category maintained in the system.

Routing Number

Specify the routing number.

Clearing Product Code

Specify the clearing product code. Alternatively, you can select clearing product code from the option list. The list displays all valid clearing product code maintained in the system.

Sector Code

Specify the sector code. Alternatively, you can select sector code from the option list. The list displays all valid sector code maintained in the system.

GIRO Number

Specify the GIRO number.

Payer Account

Specify the payer account number.

Payer Bank Code

Specify the payer bank code.

Payer Branch

Specify the payer branch code.

Payer Bank Address 1

Specify the payer bank address.

Payer Bank Address 2

Specify the payer bank address.

Payer Bank Address 3

Specify the payer bank address.

Payer Bank Address 4

Specify the payer bank address.

Auto GIRO

Select the auto GIRO that you are maintaining. The options are as follows:

Bank GIRO

Select the bank GIRO that you are maintaining. The options are as follows:

7.1.6.2 Debit Settlement Mode Tab

Click ‘Debit Settlement Mode’ tab in ‘Settlement Mode’ screen to invoke the following screen:

You can specify the following details:

Debit Payment Mode

Select the mode of debit payment from the drop-down list. The list displays the following values:

Debit Product Account

Specify the debit product account number. Alternatively, you can select debit product account number from the option list. The list displays all valid debit product account number maintained in the system.

Debit Account Branch

Specify the debit account branch code. Alternatively, you can select debit account branch code from the option list. The list displays all valid debit account branch code maintained in the system.

Instrument Number Debit

Specify the instrument number of the debit payment.

Upload Source Debit

Specify the upload source code for the debit payment. Alternatively, you can select upload source code for the debit payment from the option list. The list displays all valid upload source code maintained in the system.

End Point

Specify the end point details. Alternatively, you can select end point details from the option list. The list displays all valid end point details maintained in the system.

External Account Number

Specify the external account number.

External Account Name

Specify the external account name.

Clearing Bank Code

Specify the clearing bank code. Alternatively, you can select clearing bank code from the option list. The list displays all valid clearing bank code maintained in the system.

Clearing Branch Code

Specify the clearing branch code. Alternatively, you can select clearing branch code from the option list. The list displays all valid clearing branch code maintained in the system.

Product Category

Specify the product category. Alternatively, you can select product category from the option list. The list displays all valid product category maintained in the system.

Routing Number

Specify the routing number.

Clearing Product Code

Specify the clearing product code. Alternatively, you can select clearing product code from the option list. The list displays all valid clearing product code maintained in the system.

Sector Code

Specify the sector code. Alternatively, you can select sector code from the option list. The list displays all valid sector code maintained in the system.

GIRO Number

Specify the GIRO number.

Payer Account

Specify the payer account number.

Payer Bank Code

Specify the payer bank code.

Payer Branch

Specify the payer branch code.

Payer Bank Address 1

Specify the payer bank address.

Payer Bank Address 2

Specify the payer bank address.

Payer Bank Address 3

Specify the payer bank address.

Payer Bank Address 4

Specify the payer bank address.

Bank GIRO

Select the bank GIRO that you are maintaining. The options are as follows:

Auto GIRO

Select the auto GIRO that you are maintaining. The options are as follows:

7.1.7 Linkage Tab

At the time of Finance account capture, the Linkages to securities backing the finance are captured. They include:

Click ‘Linkage’ tab in ‘Islamic Account Details’ screen to invoke the following screen:

You can specify the following details:

TakenOver Asset Details

Collateral TakenOver

Check this box to take over collateral details.

Collateral Linkage Details

Linkage Type

Select the linkage type from the drop-down list. The list displays the following values:

Linked Ref No

Specify the linked reference number. Alternatively, you can select linked reference number from the option list. The list displays all valid linked reference number maintained in the system.

Note

If you maintain ‘Linkage Type’ as ‘New Collateral’ and maintain linkage reference number, then the system displays an error message.

Description

The system displays the description for the selected linked reference number.

Branch

The system displays the branch code in which the linkage is maintained.

Currency

The system displays the currency code maintained for linkage.

Overall Amount

Specify overall amount of the collateral if you have selected ‘Linkage Type’ as ‘New Collateral’. The system displays values of different parameters based on the linkage type.

Collateral Category

The system displays the collateral category if the ‘Linkage Type’ is maintained as ‘Collateral’. You need to specify collateral category if the ‘Linkage Type’ is ‘New Collateral’, from the adjoining option list. Alternatively, you can select collateral category from the option list. The list displays all valid collateral category maintained in the system.

Hair Cut %

The system displays the percentage of hair cut for the collateral, if the ‘Linkage Type’ is maintained as ‘Collateral’. You need to specify ‘Hair Cut %’ if the ‘Linkage Type’ is ‘New Collateral’. Alternatively, you can select Hair Cut % from the option list. The list displays all valid Hair Cut % maintained in the system.

Limit Amount

The system displays the following as limit amount based on the selected linkage type, on saving the finance account:

Linked Amount

The system displays the linked amounted computed after applying the linked percentage on the limit amount, on saving the finance account.

Linked %

Specify linked percentage you want to apply on the limit amount of the account.

Utilization Order No

Specify a valid order in which you need to utilize the linkage linked to the account. The system utilizes the linkage in an ascending order.

Utilized Amount

Utilized amount of the account is displayed here.

Commitment Product

The system displays the commitment product of the selected collateral, if the ‘Linkage Type’ is maintained as ‘Collateral’. You need to specify a valid commitment product, which is open and authorized if the ‘Linkage Type’ is ‘New Collateral’.

New Collateral

The system displays the new collateral details.

Taken Over

Check this box if the collateral is taken over.

Note

While saving an account:

When an account is deleted, the system re-instates the collateral if it is utilized by the ac­count and closes the collateral that was created new, automatically.

Commitment Details

You can maintain the following commitment details here:

Linkage Sequence Number

Specify the linkage sequence number.

Linkage Type

The system displays one of the following linkage type:

Customer ID

Specify the customer ID. Alternatively, you can select customer ID from the option list. The list displays all valid customer ID of the customer to be used for corresponding linkage type.

A customer can either be the primary applicant or any of the other applicants for which the linkage type has been maintained.

Linkage Branch

Specify the linkage branch. Alternatively, you can select linkage branch code from the option list. The list displays all valid linkage branch code maintained in the system.

Linked Reference

Specify the linked reference number. Alternatively, you can select linked reference number from the option list. The list displays all valid linked reference number maintained in the system.

Linkage Amount

Specify the linkage amount.

7.1.8 Rollover Tab

Click ‘Rollover’ tab in ‘Islamic Account Details’ screen to invoke the following screen.

You can specify the following details:

Allow Rollover

Check this box to allow rollover.

Rollover Mode

Select the rollover mode that you are maintaining. The options are as follows:

Rollover Type

Select the rollover type that you are maintaining. The options are as follows:

Roll By

Select the roll by details from the drop-down list. The list displays the following values:

Ar-Rahnu Extensions

Specify the number of extensions or rollovers you want to allow for the Ar-rahnu account.

The system validates the following parameters while saving an Ar-Rahnu account:

While manually disbursing an Ar-Rahnu product category account, the system validates if the disbursement amount is equal to the amount financed. If the they are not equal, then the system displays the error message as ‘For ARRAHNU accounts the full amount financed should be disbursed’.

Ar-Rahnu extensions or re-pledge are processed through account rollover, because when a part of the financed amount is paid, the remaining amount is converted as a new financing account.

Schedule Basis

Select the schedule basis that you are maintaining. The options are as follows:

User Defined Element Rollover

Select the user defined element rollover details that you are maintaining. The options are as follows:

Special Amount

Specify the special amount.

Roll Components

The system displays the roll components details.

7.1.9 Events Button

Click ‘Events’ button in ‘Islamic Account Details’ screen to invoke the following screen.

An ‘event’ may be defined as any action starting from application entry to collections. This module captures the details of events applicable to the account.

7.1.9.1 Processed Events Tab

The processed events are all the events which have already taken place. This displays the details like the sequence number of the event. The date on which the event was processed, the value date, the event code, a brief description of the event by clicking on ‘Events’ button. The screen also displays the details of the events according to the events selected.

The following details are displayed:

Branch Code

The branch code of the account maintained in the valid tables of consumer lending is displayed here.

Account Number

Applicant’s account number, which is auto generated if it is so maintained under the branch parameter is displayed here.

Application Number

The application number captured at the time of finance initiation is displayed here.

Customer id

Applicant’s customer Id is displayed here.

Product Code

Product code of the product associated with the account, defaulted from Product definition is displayed here.

Product Category

The product category availed by the customer is displayed here.

Amount Financed

The total finance amount is displayed here.

Ccy

Currency in which the transaction will be conducted for the account is displayed here.

Down payment Amount

The amount paid by the customer upfront is displayed here. This is used for information only.

Maturity Date

Maturity date for the finance account is displayed here.

Value Date

Value date for the account is displayed here.

User Defined Status

The user defined status for the account is displayed here.

Events

Seq No

The sequence number for the account is displayed here.

Processed Date

The date on which the event takes place is displayed here. It is the same as system date.

Execution Due Date

The date of execution of the events as maintained in the valid table that is captured during application entry is displayed here.

Code

The event code is displayed here.

Description

A description for the event occurred is displayed here.

Advices

DCN

A system generated number for reference is displayed here.

Msg Type

The type of advice generated for the event is displayed here. This is applicable only if maintained at the product level for the particular event.

Entries

Dr/Cr

This field indicates if the event occurring is a Debit or Credit event.

Branch

The branch in which the event occurred is displayed here.

Account Number

The number of the account affected by the event as maintained in the valid table is displayed here.

Ac Ccy

The currency involved in the event is displayed here.

Event Fcy Amount

Foreign currency amount involved with the event, if any.

Exch Rate

Exchange rate associated with the account is displayed here.

Event Lcy Amount

Local currency amount involved with the event, if any is displayed here. These events are maintained in the Event entries table.

Value Date

Value date for the event as maintained in the valid date captured during the application entry is displayed here.

Transaction Date

Event transaction date is displayed here. It is same as the system date

Entry FCY Amt

Netted entry log for the foreign currency amount is displayed here. These values are stored in the daily logs.

Entry LCY Amt

Netted entry log for the local currency amount is displayed here. These values are stored in the daily logs.

Trn Code

Transaction code is displayed here.

Amount Tag

Amount tag for the transacted amount is displayed here.

Event Seq Number

Event sequence number is displayed here.

Event

Event name and identifier are displayed here.

GAAP indicator

Generally Accepted Accounting Principles (GAAP) applicable for the accounting entry is displayed here.

7.1.9.2 Archiving Processed Events

You can archive processed records from the events diary using the ‘Retail Lending - Bank Parameters’ screen.

 

In this screen, you can specify the following parameters to archive processed events:

Reference Date

This is the first date on which the archival will be initiated. If this date is NULL, no archival will be done.

Frequency

This is the frequency for archival. The options in the drop down list are:

Unit

This is a numeric value. Let us suppose you select the frequency as Daily and Unit as 5. In this case archival will be done every 5th day.

A batch process will execute the archival by end of day. However, if you do not specify the parameters, archival will not be executed.

Note

A batch process will execute the archival by end of day. However, if you do not specify the above parameters, archival will not be executed.

7.1.9.3 Unprocessed Tab

The Unprocessed event screen has all the details of the overdue and the Due events for the account.

Overdue Events

An event which has crossed the due date becomes an overdue event. The number of days after the due date is used by the bank to calculate compensation for the event.

The following Overdue event details are displayed:

Event Code

Unique event code is displayed here.

Execution Date

Date on which event occurred is displayed here.

Event Desc

Brief event description is displayed here.

Components

Component Name

Name of the component affected by the event is displayed here.

Due Events

The date on which the event is supposed to take place is the due date of the event. In case of repayments, the customer is informed by the bank regarding the due date.

The following details are displayed:

Event Code

Unique event code is displayed here.

Execution Date

Date on which event should have occurred is displayed here.

Event Desc

Brief event description is displayed here.

Components

Component Name

Name of the component affected by the event is displayed here.

7.1.10 Other Applicants Button

The details of the liability parties to the account are maintained in this screen. Other Applicants of a finance include Co-signers and Guarantors.

You can specify the following details of the Co-applicants:

Customer ID

To select the customer ID of the co-applicant, click on the option list. A list of customer IDs is displayed. Select the customer ID of the co-applicant.

Customer Name

After you enter the name of the Customer, the system displays the name of the customer in this field.

Responsibility

In this field, you can select the details of the co-applicants and their responsibility as a Co-signer or as a guarantor from the option list. You can enter the details like the guarantor, co-signer, main addressee, advice notice receiver, and borrower etc., who is relevant to a joint account relationship. During initiation of the account, the primary customer is defaulted to ‘Borrower’ with 100% Liability and value date as the effective date. Your are allowed to maintain multiple applicants (customer id) for a finance with the same responsibility (Borrower).

Note

While there is no processing impact, the difference will become important when the origi­nal debtor is absconding and the finance is unpaid etc.

Liability

In this field, you can enter the contribution of the co-applicants to the Finance. You can specify the Liability of the co-applicant if any, in case of a Finance default. You can also specify the percentage of profit split among different co-applicants. It is not made mandatory to maintain ‘Liability %’ for the responsibility ‘Borrower’.  There could be borrowers with 0% liability.

Note

The sum of ‘Liability %’ for all the customers of a finance to be equal to 100%

CCY

The system displays the currency code.

Liability Amount

The system calculates and displays the upper limit of the liability in terms of the amount in this field. You may override the computed value.

Effective Date

This field is used to capture the date from which the % profit split among co-applicants of the finance will be taken into consideration. During the initiation of the finance, the value date of the finance will be defaulted as the effective date. During VAMI, the same effective date will be retained, you can however edit it.

Note

The effective date can not be a date prior to the finance initiation date. It is also necessary that there is one record for the initiation date. The effective date for all the applicants is the same.

7.1.11 Payment Mode Button

You can specify the mode of bill payment in Oracle FLEXCUBE. Click ‘Payment Mode Details’ button on the ‘Islamic Account Details’ screen to invoke ‘Payment Mode’ screen.

Here, you can capture the following details.

7.1.11.1 Credit Settlement Mode Tab

Click ‘Credit Settlement Mode’ tab in ‘Payment Mode’ screen to specify the following details:

You can specify the following details:

Branch

The system displays the branch code.

Account

The system displays the account details.

7.1.11.2 Credit Settlement Mode Tab

Click ‘Credit Settlement Mode’ tab in ‘Settlement Mode’ screen to specify the following details:

Credit Payment Mode

Select the mode of credit payment from the drop-down list. The list displays the following values:

Note

The system will allow you to specify the settlement details only if you have checked the option ‘Allow Corporate Access’ in the ‘Branch Parameters – Detail View’ screen. If you have not checked this option, the system will default the values as maintained in the fund branch account. You will not be allowed to modify this.

Credit Account Branch

Specify the credit account branch code. Alternatively, you can select credit account branch code from the option list. The list displays all valid credit account branch code maintained in the system.

Upload Source Credit

Specify the upload source code for the credit payment. Alternatively, you can select upload source code for the credit payment from the option list. The list displays all valid upload source code maintained in the system.

Clearing Bank Code

Specify the clearing bank code. Alternatively, you can select clearing bank code from the option list. The list displays all valid clearing bank code maintained in the system.

Instrument Number Credit

Specify the instrument number of the credit payment.

Clearing Product Code

Specify the clearing product code. Alternatively, you can select clearing product code from the option list. The list displays all valid clearing product code maintained in the system.

End Point

Specify the end point details. Alternatively, you can select end point details from the option list. The list displays all valid end point details maintained in the system.

External Account Number

Specify the external account number.

Product Category

Specify the product category. Alternatively, you can select product category from the option list. The list displays all valid product category maintained in the system.

Credit Product Account

Specify the credit product account number. Alternatively, you can select credit product account number from the option list. The list displays all valid credit product account number maintained in the system.

Clearing Branch Code

Specify the clearing branch code. Alternatively, you can select clearing branch code from the option list. The list displays all valid clearing branch code maintained in the system.

Routing Number

Specify the routing number.

Sector Code

Specify the sector code. Alternatively, you can select sector code from the option list. The list displays all valid sector code maintained in the system.

External Account Name

Specify the external account name.

7.1.11.3 Debit Settlement Mode Tab

Click ‘Debit Settlement Mode’ tab in ‘Settlement Mode’ screen to invoke the following screen:

You can specify the following details:

Debit Payment Mode

Select the mode of debit payment from the drop-down list. The list displays the following values:

Note

If the Debit Settlement mode is selected as PDC, then the other debit settlement details are not maintained.

If the debit Settlement is PDC then the liquidation mode of the component should be manual.

The Debit Settlement can be chosen as PDC only when contract is amortized.

Note

The system will allow you to specify the debit payment mode only if you have checked the option ‘Allow Corporate Access’ in the ‘Branch Parameters – Detail View’ screen. If you have not checked the option, the system will default the values as maintained at the fund level. You will not be allowed to modify this.

Debit Account Branch

Specify the debit account branch code. Alternatively, you can select debit account branch code from the option list. The list displays all valid debit account branch code maintained in the system.

External Account Number

Specify the external account number.

Clearing Bank Code

Specify the clearing bank code. Alternatively, you can select clearing bank code from the option list. The list displays all valid clearing bank code maintained in the system.

Instrument Number Debit

Specify the instrument number of the debit payment.

End Point

Specify the end point details. Alternatively, you can select end point details from the option list. The list displays all valid end point details maintained in the system.

Clearing Product Code

Specify the clearing product code. Alternatively, you can select clearing product code from the option list. The list displays all valid clearing product code maintained in the system.

Upload Source Debit

Specify the upload source code for the debit payment. Alternatively, you can select upload source code for the debit payment from the option list. The list displays all valid upload source code maintained in the system.

Card Number

Specify the card number.

Debit Product Account

Specify the debit product account number. Alternatively, you can select debit product account number from the option list. The list displays all valid debit product account number maintained in the system.

External Account Name

Specify the external account name.

Clearing Branch Code

Specify the clearing branch code. Alternatively, you can select clearing branch code from the option list. The list displays all valid clearing branch code maintained in the system.

Product Category

Specify the product category. Alternatively, you can select product category from the option list. The list displays all valid product category maintained in the system.

Routing Number

Specify the routing number.

Sector Code

Specify the sector code. Alternatively, you can select sector code from the option list. The list displays all valid sector code maintained in the system.

Payer Bank Name

Specify the payer bank name.

Payer Account

Specify the payer account number.

Payer Branch

Specify the payer branch code.

Payer Bank Address 1

Specify the payer bank address.

Payer Bank Address 2

Specify the payer bank address.

Payer Bank Address 3

Specify the payer bank address.

Payer Bank Address 4

Specify the payer bank address.

7.1.12 Multiple Asset Button

Click ‘Multiple Asset’ button to capture additional details about multiple assets linked to the account. Based on the product code chosen, the system identifies the asset category linked to the account and displays the appropriate screen. For instance, if the asset type defined for the linked product is ‘Building Info’ then the following screen will be displayed on clicking this button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

7.1.12.1 Capturing Building Material Information

Goods Type

Select the type of goods by clicking on the option list. The different types of goods that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Description

Specify a description for the building material to be financed.

Down Payment

Specify the amount paid as down payment.

Currency

Specify the currency of the account.

Asset Finance Amount

Specify the amount financed for the asset.

Vendor Code

Select the vendor code from the option list. This list displays all vendor codes maintained through the ‘Vendor Maintenance’ screen.

Vendor Name

The vendor name corresponding to the vendor code selected is displayed here.

Proforma Invoice Number

Specify the invoice number here.

Proforma Invoice Date

Specify the date of invoice creation here.

7.1.12.2 Capturing Balance Details

Outstanding Principal

The outstanding principal on the finance contract for this building material is displayed here.

Outstanding Profit

The outstanding profit on the finance contract for this building material is displayed here.

If the asset type defined for the linked product is ‘Vehicle Info’, then the following screen will be displayed on clicking ‘Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

Capturing Vehicle Information

Asset Type

Select the type of asset from the drop-down list. The options available are:

Asset Category

Select the category to which the asset belongs from the option list. This list displays all options maintained using the ‘Limits Type Maintenance’ screen.

Application Number

Specify the application number for the asset here.

Color

Specify the color of the vehicle.

Class

Specify the class of the vehicle.

Number of Cylinder

Specify the number of cylinders for the vehicle. This has to be a numeric value.

Vehicle Condition

Describe the condition of the vehicle.

Vehicle Description

Enter a description for the vehicle. For example: Car, Van etc.

Make

Select the code indicating the make of the vehicle from the option list. All the vehicle maker codes, that you have maintained in the ‘Vehicle Maker Details’ screen, are listed for selection.

Sub Model

Select the sub-model of the vehicle from the adjoining option list. This list displays all models maintained using the ‘Vehicle Maker Details’ screen.

Year Model

Specify the year when the model was first launched.

Year of Manufacture

Specify the year in which the vehicle was manufactured.

Engine Number

Specify the engine number of the vehicle here. This can be an alphanumeric value.

Chassis Number

Specify the chassis number of the vehicle here.

Specifying Registration Details

Type

Specify the registration type here. You can choose from the following values in the adjoining drop-down list:

Name

Specify the name in which the vehicle is registered.

Emirate

Select the emirate in which the vehicle was registered, from the option list. All the emirates maintained using the ‘Limits Type Maintenance’ screen will be listed for you to select.

Registration Number

Specify the registration number of the vehicle here.

Date

Specify the date on which the vehicle was registered.

Delivery Date

Specify the date on which the vehicle was delivered.

Specifying Vendor Details

Vendor Code

Select the vendor code from the option list. All the vendor codes maintained using the ‘Vendor Maintenance’ screen, are listed for you to select.

Vendor Name

Once the Vendor code is selected the corresponding vendor name is defaulted here.

Agent Sales Staff Name

Specify the name of the agent sales staff.

Agent Name

Specify the name of the agent.

Agent Branch

Specify the agent branch.

Specifying Amount Details

Currency

Specify the currency of the account.

Requested Amount

Specify the amount requested to be financed.

% Amt Financed/Appraised Value

Specify the percentage of amount financed that is appraised.

Specifying Appraiser Details

Appraiser Name

Specify the name of the appraiser here.

Appraised Value

Specify the value appraised.

Appraisal Date

Specify the date on which the appraisal was done.

Specifying Total Amount Details

Down Payment

Specify the amount paid as down payment.

Vehicle Value

Specify the value of the vehicle.

Maintenance Cost

Specify the maintenance cost of the vehicle.

Insurance Amount

Specify the insurance amount for the vehicle.

Asset Finance Amount

Specify the amount financed for the asset.

Specifying Insurance Details

Insured By Bank

Check this box to indicate that the asset is insured by the bank.

Insurance Company

Select the name of the company through which the assets is insured.

Premium Amount

Specify the premium amount to be paid for the insurance.

Specifying Balance Details

Outstanding Principal

The outstanding principal on the account for this vehicle is displayed here.

Outstanding Profit

The outstanding profit on the account for this vehicle is displayed here.

If the asset type defined for the linked product is ‘Goods Info’, then the following screen will be displayed on clicking ‘Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

Goods Details

Brand

Select the brand of the goods by clicking on the option list. The different brands that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Description

Specify a description for the goods brand.

Quantity

Specify the quantity of good here.

Delivery Location

Specify the location where the goods have to be delivered.

Delivery Date

Specify the date on which the goods have to be delivered.

Currency

Specify the account currency here.

Down Payment

Specify the amount paid as down payment.

Asset Finance Amount

Specify the amount financed for the asset.

Specifying Vendor Details

Vendor Code

Select the vendor code from the option list. All the vendor codes maintained using the ‘Vendor Maintenance’ screen, are listed for you to select.

Vendor Name

The vendor name corresponding to the vendor code selected is displayed here.

Specifying Balance Details

Outstanding Principal

The outstanding principal on the account for the goods is displayed here.

Outstanding Profit

The outstanding profit on the account for the goods is displayed here.

If the asset type defined for the linked product is ‘Property Info’, then the following screen will be displayed on clicking ‘Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

7.1.12.3 Capturing Property Details

Property Type New

Select if the property is new or old. The options available are:

Type of Property

Select the type of property from the option list. The types of properties that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Description

Specify a description for the property.

Builder Name

Specify the name of the builder of the property.

Project Name

Specify the name of the project.

Building Name

Specify the name of the building for which finance is taken

Wing Name

Specify the name of the wing in which the property is.

District/Area (Hoz Raqam)

Select the district or area within the selected Emirate by clicking on the option list. The different districts within the Emirates that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

City

Select the city where the property is by clicking on the option list. The different cities that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Area in another Country

Select the area in another country where the property is by clicking on the option list. The different areas in another country that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Plot Number

Specify the plot number here.

Property Status

Specify the status of the property financed.

Property Area

Specify the area of the property.

Property Usage

Specify the usage of the property here. For example: Primary, Secondary etc.

Date of Completion

Specify the date of completion of the property construction.

Title Deed Number

Specify the title deed number. This has to be an alphanumeric value.

Registered on Name

Specify on whose name the property is registered.

Title Deed Issued From

Specify from where the title deed was issued.

Registration Number

Specify the registration number of the property here.

Date

Specify the date on which the property was registered.

Title Deed Issue Date

Specify the date on which the title deed was issued.

Villa/Apartment Number

Specify the number of the villa or the apartment.

Building Compound Name

Specify the name of the compound in which the building is located.

Street Name

Specify the name of the street in which the property is located.

PO Box

Specify the post office box number of the location where the property is located.

Emirate

Select the Emirate where the property is by clicking on the option list. The Emirates that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Area within Emirate

Specify the area within the selected Emirate by clicking on the option list. The different areas with Emirate that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Country

Specify the country where the property.

Mortgage Degree

Specify the degree of mortgage of the property.

Lot Number

Specify the lot number of the property.

7.1.12.4 Specifying Vendor Details

Vendor Code

Select the vendor code from the option list. All the vendor codes maintained using the ‘Vendor Maintenance’ screen, are listed for you to select.

Vendor Name

The vendor name corresponding to the vendor code selected is displayed here.

7.1.12.5 Specifying Amount Details

Currency

Specify the currency of the account.

Requested Amount

Specify the amount requested for finance.

Down Payment

Specify the amount paid as down payment.

Property Value

Specify the value of the property here.

Insurance Value

Specify the amount for which the property is insured.

Asset Finance Amount

Specify the amount financed for the asset.

7.1.12.6 Specifying Insurance Details

Insurance Company

Select the name of the company from which insurance coverage is taken for the property.

Insurance Paid By

Specify by whom the insurance for the property is paid.

Premium Amount

Specify the premium amount to be paid for the insurance.

Insured Name

Specify on whose name the insurance is taken.

Insurance Expiry Date

Specify the date on which the insurance expires.

7.1.12.7 Specifying Evaluator Details

Name

Specify the name of the evaluator in this field.

Value

Specify the evaluation value in this field.

Date

Specify the date of evaluation in this field.

7.1.12.8 Specifying Balance Details

Outstanding Principal

The outstanding principal on the finance contract for this property is displayed here.

Outstanding Profit

The outstanding profit on the finance contract for this property is displayed here.

Vendor Type

Select the vendor type from the drop-down list. The options available are:

Chosen By

Select by whom the property is chosen from the drop-down list. The options available are:

Code

Select the vendor code from the options list available.

Name

The name of the vendor is displayed here.

Account Value

Specify the value of the account here.

Date

Specify the date of the contract here.

Construction Start Date

Specify the date on which the construction of the property started.

Proposed Completion Date

Specify the proposed date of completion of the property.

If the asset type defined for the linked product is ‘Equipment Info’, then the following screen will be displayed on clicking ‘Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

7.1.12.9 Specifying Equipment Details

Engine Number

Specify the engine number of the equipment here.

Equipment Location

Specify the location where the equipment is.

Street

Specify the name of the street where the equipment is.

Area

Select the area where the equipment is from the option list. The different areas that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

City

Select the city where the equipment is from the option list. The different cities that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Country

Select the country where the equipment is from the option list. The different countries that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Owners

Specify the name of the person who owns the equipment.

Description

Enter a description for the equipment.

Currency

Specify the currency of the account.

Down Payment

Specify the amount paid as down payment.

Asset Finance Amount

Specify the amount financed for the asset.

7.1.12.10 Specifying Seller Details

Vendor Code

Select the vendor code from the option list. All the vendor codes maintained using the ‘Vendor Maintenance’ screen is listed for you to select.

Vendor Name

The vendor name corresponding to the vendor code selected is displayed here.

Selling Date

Specify the date on which the equipment was sold.

Invoice Date

Specify the date on which the invoice was created.

Invoice Number

Specify the invoice number here.

7.1.12.11 Specifying Balance Details

Outstanding Principal

The outstanding principal on the account for this equipment is displayed here.

Outstanding Profit

The outstanding profit on the account for this equipment is displayed here.

7.1.12.12 Specifying Evaluator Details

Name

Specify the name of the evaluator here.

Value

Specify the evaluated value of the equipment.

Date

Specify the date of evaluation.

If the asset type defined for the linked product is ‘Project Info’, then the following screen will be displayed on clicking ‘Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘Active’ and ‘Settled’. During account initiation the status will be ‘Active’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘Settled’. An asset can only be completely settled. No partial payment is allowed.

7.1.12.13 Specifying Project Details

Sector of Investment

Select the sector of investment from the option list. The different sectors of investment which you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Currency

Specify the currency of the account.

Feasibility Study Initiator

Specify the name of the person initiating the feasibility study.

Expected Profit

Specify the expected profit for the project here.

Down Payment

Specify the amount paid as down payment.

Expected Expiry Date

Specify the expected expiry date of the project here.

Asset Finance Amount

Specify the amount financed for the asset.

7.1.12.14 Capturing Outstanding Details

Outstanding Principal

The outstanding principal on the account for this project is displayed here.

Outstanding Profit

The outstanding profit on the account for this project is displayed here.

Vendor

Select the vendor type from the drop-down list. The options available are:

Chosen By

Select the entity that chose the project, from the drop-down list. The options available are:

Code

Specify the vendor code here. The option list displays all vendor codes maintained through the ‘Vendor Maintenance’ screen.

Name

The system displays the vendor name here based on the code specified.

Account Value

Specify the value of the finance here. This will be same as the total finance amount.

Date

Specify the date of the account here.

Construction Start Date

Specify the date on which construction had started.

Proposed Completion Date

Specify the proposed date of completion of the project.

If the asset type defined for the linked product is ‘Service Ijarah Info’, then the following screen will be displayed on clicking ’Multiple Asset’ button.

Here you can capture the following details:

Account Number

The account number is defaulted from the ‘Account Details - Main’ screen.

Asset Sequence Number

The system generates a sequence number for the asset and displays it here.

Status

The status of the asset is displayed here. The statuses available are ‘A’ (Active) and ‘S’ (Settled). During account initiation the status will be ‘A’. Once the prepayment of the asset begins the asset will be completely settled. Then the status will change to ‘S’. An asset can only be completely settled. No partial payment is allowed.

7.1.12.15 Specifying Goods Ijarah Details

Type of Goods

Select the type of goods here from the option list. The different types of goods which you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Brand

Select the brand of the goods here from the option list. The different brands of goods which you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Quantity

Specify the quantity of goods here.

Delivery Date

Specify the date on which the goods should be delivered.

Delivery Location

Specify the location where the goods have to be delivered.

7.1.12.16 Specifying Educational Ijarah Details

Course Name

Specify the name of the course here.

Beneficiary

Specify the name of the beneficiary here.

Start Date

Specify the date on which the course starts.

End Date

Specify the date on which the course ends.

7.1.12.17 Specifying Rent Ijarah Details

Rent Location

Specify the location of the rented building.

Unit Number

Specify the unit number of the rented building.

Description

Specify a description for the rented property.

Plot Number

Specify the plot number of the rented building.

Building Name

Specify the name of the rented building.

Project Name

Specify the project name of the rented building.

Area within Emirate

Select the area where the rented property is by clicking on the option list. The areas that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Emirate

Select the Emirate where the rented property is by clicking on the option list. The Emirates that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Total Area

Specify the total area of the rented building.

Built Up Area

Specify the built up area of the rented building.

Number of Storey

Specify number of storey the rented building has.

Start Date

Specify the date from when the building is taken on rent.

End Date

Specify the date till which the building is rented out.

7.1.12.18 Specifying Events Ijarah Details

Type

Specify the type of event.

Location

Specify the location where the event is conducted.

Plot Number

Specify the plot number of the building where the event is going to take place.

Description

Specify a description for the event.

Building Name

Specify the name of the building where the event is going to take place.

Area

Select the area where the building is. The areas that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Emirate

Select the Emirate where the building is by clicking on the option list. The Emirates that you have maintained using the ‘Limits Type Maintenance’ screen will be listed here for selection.

Hotel Total Area

Specify the total area of the hotel where the event is going to take place.

Capacity

Specify the total seating capacity of the hotel.

7.1.12.19 Specifying Medical Ijarah Details

Description

Specify a description of the medical treatment.

Beneficiary

Specify the name of the beneficiary here.

Start Date

Specify a start date for the medical treatment.

End Date

Specify an end date for the medical treatment.

7.1.12.20 Specifying Common Information

Down Payment

Specify the amount paid as down payment.

Asset Finance Amount

Specify the amount financed for the asset.

Description

Enter a brief description for the Ijarah.

Vendor Code

Select the vendor code from the option list. All vendor codes maintained through the ‘Vendor Maintenance’ screen are available for selection.

Vendor Name

The name of the selected vendor is displayed here.

Currency

Specify the currency of the account.

While savings the record, the system will add up the asset value and verify the total asset cost against the range maintained for the product. If the asset cost exceeds the range maintained for the product, the system will display an override message. If the asset currency is different from the currency in which the product level range is maintained, the system will use the standard mid-rate for conversion.

7.1.13 Ijarah Button

Click ’Ijarah’ button to capture lease related details.

You can specify the following details:

Lease Type

Here you can select the type of lease from options given below:

Lease Payment Mode

Here you can select the type of payment mode from options given below:

Residual Value Basis

You can select one of the below options which indicates the basis on which the residual amount has to be calculated:

Residual Value

Specify the percentage or flat amount for the residual amount.

Residual Amount

Here the system displays the calculated residual amount and this should be less than the ‘Amount Financed’.

Note

On liquidation, this amount will be treated as Principal and Profit.

If a residual amount exists for the finance, then it would be the last schedule of the account with the due date as the maximum date supported. The components will be ‘PRINCIPAL’ and ‘PROFIT’. The residual amount in case of payment in advance includes the profit. For an Operational Lease this amount will be considered fully towards the profit. For a financial lease if the payment mode is ‘In Arrears’ then the residual amount will be considered fully towards the principal.

Finance Currency

Specify the finance currency.

Fixed Asset Product

Specify the fixed asset product code.

Status

Specify the status.

Asset Category

Specify the asset category. Alternatively, you can select asset category from the option list. The list displays all valid asset category maintained in the system.

Category Description

The system displays the description for the selected asset category.

Location

Specify the location details. Alternatively, you can select location from the option list. The list displays all the locations maintained in the system.

Location Description

The system displays the description for the selected location.

Booking Date

Select the booking date from the adjoining calendar.

Capitalization Date

Select the capitalization date from the adjoining calendar.

Fixed Asset Contract Reference

Specify the fixed asset contract reference number.

Fixed Asset User Reference

Specify the fixed asset user reference number.

7.1.14 Asset Button

Click ‘Asset’ button to invoke ‘Asset’ screen.

You can specify the following details:

Branch

The system displays the branch code.

Account

The system displays the account number.

7.1.14.1 Account Asset Valuation Tab

Click ‘Account Asset Valuation’ tab in ‘Assets’ screen to specify asset details.

Asset Value

Select asset value from the drop-down list. The list displays the following values:

Value Date

Select the value date from the adjoining calendar.

Source

Specify the source code.

Supplement

Specify the supplement details.

Edition

Specify the edition details.

Wholesale

Specify the wholesale value.

Retail

Specify the retail value.

Usage

Specify the usage details.

Usage Value +

Specify the usage value.

Total Transaction Value

Specify the total transaction value.

7.1.14.2 Vehicle Tab

Click ‘Vehicle’ tab in ‘Assets’ screen to invoke the following screen:

You can specify the following details:

Asset Class

Specify the asset class. Alternatively, you can select asset class from the option list. The list displays all valid asset classes maintained in the system.

Type

Specify the type.

Sub Type

Specify the sub type.

Asset Status

Specify the asset status. Alternatively, you can select asset status from the option list. The list displays all valid asset status maintained in the system.

Asset Year

Specify the year of the asset.

Asset Maker

Specify the maker details of the asset.

Asset Model

Specify the model details of the asset.

Asset Body

Specify the asset body details.

Identification Number

Specify the identification number.

Registration Number

Specify the registration number.

Address 1

Specify the address details.

Address 2

Specify the address details.

Address 3

Specify the address details.

Address 4

Specify the address details.

7.1.14.3 Home Tab

Select ‘Home’ tab in ‘Asset’ screen to invoke the following screen:

Asset Class

Specify the asset class. Alternatively, you can select asset class from the option list. The list displays all valid asset classes maintained in the system.

Type

Specify the type.

Sub Type

Specify the sub type.

Asset Status

Specify the asset status. Alternatively, you can select asset status from the option list. The list displays all valid asset status maintained in the system.

Occupancy

Specify the occupancy details.

Asset Year

Specify the year of the asset.

Asset Maker

Specify the maker details of the asset.

Asset Model

Specify the model details of the asset.

Width

Specify the width details.

Length

Specify the length details.

Purchase Order Number

Specify the purchase order number.

Geography

Specify the geography details.

BNA

Specify the BNA details.

MSA

Specify the MSA details.

Address 1 -4

Specify the address.

7.1.14.4 Others Tab

Click ‘Others’ tab in ‘Assets’ screen to invoke the following screen:

You can specify the following details:

Asset Class

Specify the asset class. Alternatively, you can select asset class from the option list. The list displays all valid asset classes maintained in the system.

Type

Specify the type.

Sub Type

Specify the sub type.

Asset Status

Specify the asset status. Alternatively, you can select asset status from the option list. The list displays all valid asset status maintained in the system.

Asset Year

Specify the year of the asset.

Asset Maker

Specify the maker details of the asset.

Asset Model

Specify the model details of the asset.

Asset Body

Specify the asset body details.

Identification Number

Specify the identification number.

Registration Number

Specify the registration number.

Address 1 -4

Specify the address.

7.1.14.5 Mortgage Tab

Click ‘Mortgage’ tab in ‘Asset’ screen to invoke the following screen:

You can specify the following details:

Property Name

Specify the name of the property.

Collateral Category

Specify the collateral category details.

Country

Specify the country code.

Co Owner

Specify the co-owner details.

Property Age (In Years)

Specify the age of the property.

Valuation

Specify the valuation details.

Offset Margin

Specify the offset margin details.

Lendable Margin

Specify the lendable margin details.

Valuation Currency

Specify the valuation currency code.

Address 1 -4

Specify the address.

7.1.14.6 Checklist Button

Click ‘Checklist’ button in ‘Islamic Account Details’ screen to invoke ‘Checklist’ screen.

You can specify the following values:

Description

Specify the description for the checklist.

Checked?

Check this box if the check list is checked.

Remarks

Specify additional information.

7.1.15 Advices Button

Advices that may be generated whenever the account level status changes or whenever a particular event is fired can be linked at the Product level. Priorities of the advice can be changed and also a particular advice for an event can be suppressed. Generation of an advice across the life of the account can also be suppressed.

Click ‘Advices’ button in ‘Islamic Account Details’ screen to invoke the following screen:

You can specify the following Advice details:

Event

The system displays the even code.

Msg Type

The system displays all the advices for all the events for the account. The list will include all the advices that are defined at the product level.

Suppress

This field allows the user to suppress the generation of the advice for a particular event. The options are Yes and No.

Priority

Click on the option list to select the priority of generation. A list of values is displayed. Double click on a value to select it.

The options are High, Medium or Low.

Suppress Advices

The generation of an advice across the life of the account can be suppressed.

Message Type

Click on the option list to select the type of advice, the generation of which can be suppressed across the account. A list of values is displayed. Double click on a value to select it.

The list includes advices defined at the product level.

7.1.16 Documents Button

You can capture the customer related documents in central content management repository through the ‘Document Upload’ screen. Click ‘Documents’ button to invoke this screen.

Here, you need to specify the following details:

Document Category

Specify the category of the document to be uploaded.

Document Type

Specify the type of document that is to be uploaded.

Document Reference

The system generates and displays a unique identifier for the document.

Remarks

Specify the additional information, if any.

Upload

Click ‘Upload’ button to open the ‘Document Upload’ sub-screen. The ‘Document Upload’ sub-screen is displayed below:

In the ‘Document Upload’ sub-screen, specify the corresponding document path and click the ‘Submit’ button. Once the document is uploaded through the upload button, the system displays the document reference number.

View

Click ‘View’ to view the document uploaded.

7.1.17 SWIFT Message Details Button

Click ‘SWIFT Message Details’ button in ‘Islamic Account Details’ screen to invoke the following screen:

You can specify the following details:

Account

Specify the account number.

Beneficiary Institution

Beneficiary Institution

Specify the beneficiary institution details. Alternatively, you can select the beneficiary institution details from the option list. The list displays all valid beneficiary institution details maintained in the system.

Sender To Receiver Information

Sender To Receiver Information

Specify the sender to receiver information details. Alternatively, you can select the sender to receiver information details from the option list. The list displays all valid sender to receiver information details maintained in the system.

Message Details

Cover Required

Check this box if applicable.

Payment Details

Payment Details

Specify the payment details.

Charge Details

Account Currency

Specify the account currency code.

Our Correspondent

Specify the correspondent details.

Receiver

Specify the receiver details.

Transfer Type

Specify the type of transfer.

Remitter - All Charges

Select the remitter - all charges option that you are maintaining. The options are as follows:

Ordering Institution

Ordering Institution

Specify the ordering institution details. Alternatively, you can select the ordering institution details from the option list. The list displays all valid ordering institution details maintained in the system.

Ordering Customer

Ordering Customer

Specify the ordering customer details. Alternatively, you can select the ordering customer details from the option list. The list displays all valid ordering customer details maintained in the system.

Intermediary Reimbursement Institution

Intermediary Institution

Specify the intermediary institution details. Alternatively, you can select the intermediary institution details from the option list. The list displays all valid intermediary institution details maintained in the system.

Ultimate Beneficiary

Ultimate Beneficiary

Specify the ultimate beneficiary details. Alternatively, you can select the ultimate beneficiary details from the option list. The list displays all valid ultimate beneficiary details maintained in the system.

Beneficiary Institution for Cover

Beneficiary Institution

Specify the beneficiary institution details. Alternatively, you can select the beneficiary institution details from the option list. The list displays all valid beneficiary institution details maintained in the system.

Receiver Correspondence

Receiver Correspondent

Specify the receiver correspondent details. Alternatively, you can select the receiver correspondent details from the option list. The list displays all valid receiver correspondent details maintained in the system.

Account with Institution

Account with Institution

Specify the account with institution details. Alternatively, you can select the account with institution details from the option list. The list displays all valid account with institution details maintained in the system.

Intermediary

Intermediary

Specify the intermediary details. Alternatively, you can select the intermediary details from the option list. The list displays all valid intermediary details maintained in the system.

7.1.18 Down Payment Details Button

Click ‘Down Payment Details’ button in ‘Islamic Account Details’ screen to invoke ‘Down Payment Details’ screen.Using this screen, the system captures details of all down payments received against an account.

You can specify the following details:

Account

Specify the account number of the down payment customer.

Currency

Specify the currency code of the down payment customer.

Down Payment

Specify the down payment details.

Future Down Payment Recievable

Specify the future down payment receivable details.

The system displays the following values:

Note

On reversing an account, the system will not reverse the already received down payments.

7.1.19 Vendor Payment Details Button

You can view the vendor payment details at the contract level by clicking ‘Vendor Payment Details’ button in the ‘Islamic Account Details’ screen to invoke ‘Vendor Payment Details’ screen.

You can view the following details:

For more details about vendor payments, refer the ‘Processing Vendor Payments’ chapter in this User Manual.

7.1.19.1 Default of the Basic Account Details

Once you finish entering all the values, check ‘Cancel’ button. On clicking this button, the basic account details from the Finance Product gets defaulted. Also, the ‘Account Number’ and ‘Version Number’ are created and the ‘Alternate Account Number’ gets defaulted as the ‘Account Number’. This is the Light Finance and can be saved as such or after making changes.

You have to first check this button and then save the details. After you have checked it, you can make further changes only from the Account details. This also holds good only till the first authorization. Any changes can be made only through Amendment operations.

Account Statistics

Once you select an Account Number, the system displays the current status of the account in terms of the outstanding principle, the Component Name, the Amount Overdue and the Date since when the amount had been overdue in this field.

Account Status Details

The Account creation and change updates the audit trail. In these details, the Account status is also displayed. An Account can be active or uninitiated. Once it is active, it can be reversed, deleted or liquidated based on the operations on it. This is displayed on the screen.

The Account details include the book date, the value date, the maturity date, and down payment amount of the Finance account. In case of Rolled over finances, the original start date is also stored. The details of the liability parties to the account are maintained. The Main Customer and description are displayed. Also other applicants of a finance such as Co-signers, Guarantors etc can be captured. These details of the co applicants, their responsibility as a Cosigner, guarantor etc, and the contribution of the co applicants to the Finance are provided here.

The UDE values for each Account are maintained here. The UDE values default from the UDE values maintenance for the Product, Currency, effective dates combination. These can be overridden by providing account level UDE values. However the UDE are only those defined at the product level.

If there are no product level UDE values maintained, the system will default the UDE value to Zero. However, at the time of saving, if UDE values are zero or any invalid value, then an override will be raised with an appropriate error message. If required this can be configured as an error message. In case of an ERROR, you will have to give a valid value. While if it is an OVERRIDE, you can overlook the message and continue and if it is for an ONLINE AUTHORIZATION the parameter should be authorized appropriately.

7.1.20 Takaful Details Button

Click ‘Takaful Details’ button in the ‘Islamic Account Details’ screen to invoke ‘Insurance Details’ screen.

You can specify the following details:

Takaful Company Code

Specify Takaful company code. Alternatively you can select insurance company code from the option list. The list displays all valid company code maintained in the system.

Description

The system displays the description for the selected Takaful company code.

Takaful Basis Currency

The system displays the currency code.

Takaful Basis Amount

The system displays the initial asset cost without considering the depreciation on which insurance amount to be calculated. This will defaults to the asset cost. This can be modified during the account input.

Installment Start Date

The system displays the start date of the installment.

Years

Specify the year for which depreciation and insurance rates are being defined. This is populated from the product till the end of the maturity year of an account.

Depreciation Rate

Specify the depreciation rate applicable during the tenor of the finance. These are defaulted from the product and this can be modified during the booking of an account.

Insurance Rate

Specify the insurance rates applicable during the tenor of the finance. Once the insurance rate is defined for the first year the same is defaulted to the other years and you can change the insurance rate for any year during the booking of an account.

Currency

Specify the currency code.

Premium Amount

The system displays the premium amount based on the policy chosen.

Policy Number

Specify the insurance policy number.

Expiry Date

The system computes the expiry date of the policy as ‘Policy Start Date + 1 year’ and displays the date here.

Note

The ‘Ins’ button is enabled only if the ‘Insurance Required’ check box is selected.

The depreciation rates and insurance rates can be entered only during the new account input. You cannot enter or modify during the amendment.

In case of pre-closure of finance, post automatic renewal of policy, the system will display a configurable override and not post the following entries:

7.1.21 Inventory Tracking Button

Click ‘Inventory Tracking’ button in the ‘Islamic Account Details’ screen to invoke ‘Inventory Tracking Details’ screen. This button will be enabled only if the ‘Use Inventory’ option is selected at the product level.

You can specify the following details:

Asset Category

Specify the category of the asset. Alternatively you can select asset category from the option list. The list displays all asset categories where ‘Use Inventory’ option is checked.

Description

The system displays the description for the selected asset category.

Click ‘Populate Inventory’ button to populate all authorized inventory contracts.

Asset Reference

Specify the asset reference number.

Description

The system displays the description for the selected asset reference number.

Vendor Code

Specify the vendor code.

Acquisition Date

Specify the acquisition date.

Sale Date

Specify the sale date.

Asset Cost

Specify the asset costs for inventory contracts.

Available Quantity

Specify the available asset quantity.

Unit Price

Specify the unit price of an asset.

Booked Quantity

Specify the booked quantity

Total Cost

Specify the total cost for each inventory based on the number of units required.

7.1.22 Advance Payment Button

Click ‘Advance Payment’ button and invoke the ‘Advance Payment Details’ screen.

You can specify the following details:

Advance Payment Date

Select the date on which payment is made to the vendor from the adjoining calendar.

This date cannot be equal to or greater than the finance start date. But it should be greater than previous advance payment date.

Advance Payment Amount

Specify the amount being paid in advance on the corresponding dates. However, the sum of all the advance payments should not be greater than the net finance amount.

Profit Rate

Specify the profit rate for advance payment.

Note

You need to capture these details before you click ‘Exit’ button in the ‘Account Details – Main’ screen.

7.1.23 Internal Rate of Return Details Button

Click on the ‘IRR Details’ button in ‘Islamic Account Details’ screen to invoke ‘Internal Rate of Return Details’ screen. This screen displays the IRR value for the chosen component for different effective dates. The values are displayed in the descending order of the dates.

You can view the following details:

You can re-generate a schedule for Murabaha and Istisna by enabling ‘Recompute Schedule on IRR’ at the product level. The XIRR calculated for schedule regeneration considers the principal outflow as on post-construction period start date.

The Average Rate of Return (ARR) for a contract is calculated as follows:

where N = Time Period in Years

XIRR = IRR calculated for schedule regeneration

7.1.24 GL Query Button

Click ‘GL Query’ button to view the ‘GL Details’ screen. You can view the latest GL balances for the various components that are defined for an account.

You can specify the following details:

Branch Code

Specify the branch code of the account.

Account Number

Specify the account number of the applicant.

Alt Account No

The system displays the alternate account number of the applicant.

Customer ID

The system displays the customer ID of the applicant.

Product Code

The system displays the product code of the product associated with the account from Product definition.

Product Category

The system displays the product category availed by the customer.

Amount Financed

The system displays the total finance amount.

Currency

The system displays the currency in which the transaction will be conducted for the account.

Value Date

The system displays the value date for the account.

Maturity Date

The system displays the maturity date for the finance account.

Components

Component Name

The system displays the name of the component defined for the product to which the account is linked.

Description

The system displays the component description as defined at the Product level.

GL Details

GL Code

The system displays the account head to which the component will be debir ot credit. This is defined at the product level.

GL Type

The system displays the GL category as defined in the GL chart of accounts.

Status Code

The system displays the GL type as defined in the GL chart of accounts.

Balance

The system displays the GL balance in terms of the account currency.

LCY balance

The system displays the GL balance in terms of the local currency.

7.1.25 Installment Query Button

Click ‘Installment Query’ button in Islamic Account Details’ screen to access the Installments query screen. The installment query screen displays the details of the installments for the account. The information displayed includes the account details, installment details and the installment summary.

You can specify the following detaills:

Account Details

Branch Code

Specify the branch code of the account.

Product Code

The system displays the product code of the product associated with the account from Product definition.

Application Number

The system displays the application number of the customer.

Account Number

Specify the account number of the applicant.

Alternate Account Number

The system displays the Alternate account number of the applicant.

Customer Id

The system displays the Applicant’s customer ID as maintained in the valid table.

Value Date

The system displays the value date for the account.

Maturity Date

The system displays the maturity date for the finance account.

Currency

The system displays the currency in which the transaction will be conducted for the account.

Amount Financed

The system displays the total finance amount as maintained in the valid table.

Amount Utilized

The system displays the utilized amount.

User Defined Status

The system displays the user defined status.

Available Credit Limit

The system displays the available credit limit.

Unbilled Utilization Amount

The system displays the unbilled utilization amount.

Installment Summary

Schedule Number

The system displays the schedule number.

Schedule Due Date

The system displays the Installment due date.

Currency

The system displays the currency for the installment.

Total Amount Due

The system displays the total amount due for the installment.

Minimum Amount Due

The system displays the minimum due amount.

Pay By Date

The system displays the pay by date.

Installment Detail

Component Name

The system displays the names of all the components that make up a particular installment.

Settlement Currency

The system displays the settlement currency.

Amount Due

The system displays the amount due for each of the components of a particular installment.

Schedule Status

The system displays the installment status based on the status maintained at the installment level in the product.

7.1.26 Statistics Button

Click ‘Statistics’ button to invoke ‘Account Details’ screen.

You can specify the following details:

Product

The system displays the product code.

Branch

The system displays the branch code.

Account

Specify the account number of the customer. Alternatively, you can select account number maintained in the system. The system displays all valid account number maintained in the system.

Alternate Account Number

The system displays the alternate account number.

The system displays the following values:

7.1.27 Securitization Details Button

Click ‘Securitization Details’ button in ‘Islamic Account Details’ screen to invoke ‘Securitization History Details’ screen.

You can view the following Securitization History Details:

7.1.28 Promotions Button

Click ‘Promotions’ button in ‘Islamic Account Details’ screen to invoke ‘Promotions’ screen.

You can specify the following details:

Promotion Type

Select the type of promotion from the drop-down list. The list displays the following values:

Promotion ID

Specify the promotion ID. Alternatively, you can select the promotion ID from the option list. The list displays all valid promotion IDs maintained in the system.

Beneficiary

Specify the beneficiary details.

Priority

Specify the priority details.

7.1.29 Collaterals Button

Click ‘Collaterals’ button in ‘Islamic Account Details’ to invoke ‘Collaterals’ screen.

You can specify the following details:

Customer No

Specify the customer number.

Collateral Id

Specify the collateral ID.

Collateral Value

Specify the collateral value.

Start Date

Select the start date.

Issuer Name

Specify the issuer name.

Name

Specify the collateral name.

Currency

Specify the currency code.

Collateral Type

Specify the collateral type.

Revaluation Date

Select the revaluation date.

Expiry Date

Select the expiry date.

Description

Specify the description.

7.1.30 Party Details Button

Click ‘Party Details’ button in ‘Islamic Account Details’ screen to invoke ‘Party Details’ screen.

You can enter the following details:

Customer

Specify the customer ID. Alternatively, you can select customer ID from the option list. The list displays all valid customer ID maintained in the system.

Name

The system displays the name of the customer.

Settlement Branch

Specify the branch of the bank in which the settlement is going to take place. Alternatively, you can select settlement branch code from the option list. The list displays all valid settlement branch code maintained in the system

Settlement Account

Specify the account of the contractor through which the settlement is going to take place. Alternatively, you can select settlement account code from the option list. The list displays all valid settlement account maintained in the system

7.1.31 Block Details Button

Oracle FLEXCUBE repays finance from multiple accounts. In Oracle FLEXCUBE, the finance settlement account is the primary account and all the other accounts linked to the primary account in the structure group act as cover accounts. While paying the settlement if the primary account has insufficient amount, the system will check the cover accounts for the remaining amount according to the preference.

In case of single account structure, the primary account will have only one cover account and the cover account will have only one primary account for making the account structure free of duplicate accounts. Every account has its own account structure. While closing an account under an account structure, you need to remove that account from the account structure manually else the system will not allow the closure of the account. If you want to amend an account structure, the system will check whether any amount block is open on the account structure. If any amount block is opened, then the system will throw an error. You can also configure the error code.

Amount Blocked

Check this box to indicate whether any amount block has to be created on the settlement account during the disbursement of the finance.

Amount

Here you can specify the amount that needs to be automatically blocked.

Remarks

Specify the remarks for the amount blocked. This can be modified.

For further details on amount block, please refer to ‘Capturing Escrow Transfer Details’ section in the ‘Maintaining Customer Accounts’ chapter if CASA User Manual

Click ’Block Details’ button in the ‘Islamic Account Details’ screen to invoke the ‘Amount Block Details’ screen. It will show the list of amount blocks created for the account during disbursement.

Block Reference Number

The system displays a unique serial number for the amount block.

Block Date

The system displays the date on which the amount block is created.

Branch

The system displays the Branch in which the account is used for amount block.

Account

The system displays the account in which the block is created.

Account Currency

The system display the currency of the account.

Currency of Amounts

The system displays the currency of the amount.

Amount

Here the system displays the amount that is blocked

Account

The system displays the account in which the block is created.

Note

The ’Block Details’ button will be disabled during the new account input.

The following validations have to be done:

7.1.32 Manual Disbursals Button

Click on the ‘Manual Disbursals’ button to view manual disbursals already done for the contractor. In this screen the system displays the progressive cash outflows that have been done so far and the details of each manual disbursement done by the Bank.

You can view the following details for each of the manual disbursal done:

Click ’Party Details’ tab on the ‘Manual’ screen to view the customer details.

In this screen you can view the following details:

7.1.33 Multi Finance Button

Click ‘Multi Finance’ button to invoke the ‘Multi Finance Company’ screen. You can capture details of individual borrowers here.

You can maintain the following details here:

Borrower

Specify the Borrower ID. For an existing customer you can selected from the available option list.

Borrower Name

Specify the Borrower name.

Currency

Specify the financed currency. Alternatively, you can select borrower name from the option list. The list displays all valid currency codes maintained in the system.

Amount

Specify the financed amount.

Rate

Specify the Profit Rate.

Value Date

Select the Value date of the finance from the adjoining calendar.

Maturity Date

Select the maturity date from the adjoining calendar.

Remarks

Specify the remarks, if any.

7.1.34 MIS Button

Click ‘MIS’ button in ‘Islamic Account Details’ screen to invoke MIS screen..

You can view the following details:

In ‘Transaction MIS’ section you can view the transaction MIS codes.

In ‘Composite MIS’ section, you can view composite MIS codes.

In ‘Fund MIS’ section, you can view fund MIS codes.

7.1.34.1 Viewing Rate Details

Click ‘Rate’ button on the ‘MIS’ screen and invoke the ‘Rate Details’ screen.

Here you can view the following details:

7.1.34.2 Viewing Amendment Rate Details

Click ‘Amendment Rate’ button and invoke the ‘Rate Details’ screen.

Here you can view the following details:

7.1.34.3 Viewing Change Log

Click ‘Change Log’ button on the ‘MIS’ screen and invoke the ‘Change Log’ screen.

If MIS reclassification occurs, through changing the MIS codes for transaction or composite classes, the System stores the changes made, in a Contract MIS Change Log. The following details are stored in the Contract MIS Change Log for the contract in respect of which the MIS reclassification occurred:

7.1.34.4 Viewing Balance Transfer Log

Click ‘Balance Transfer Log’ button on the ‘MIS’ screen and invoke the ‘Balance Transfer Log’ screen.

When an MIS reclassification occurs in respect of a the account, the balances in a GL associated with the old MIS code in each case are transferred to the GL for the new MIS code, if the option of transferring MIS balances upon reclassification has been set in the ‘Chart of Accounts’ screen for the GL.

You can view the following details:

7.1.35 Fields Button

UDFs are additional fields that are available for use depending on the bank’s requirement. You can define UDFs in the ‘UDF Details’ tab. In the ‘Fields’ tab of the screen, you can associate these custom fields with the product.

The UDFs are segregated based on the ‘Field Type’, into the following:

When you select an UDF from the option list, the description is also displayed in the adjacent field.

7.1.36 Events Button

7.1.37 Viewing Summary for CL Accounts

You can view the summary of the CL accounts using ‘Accounts Summary’ screen. You can invoke the ‘Account Summary’ screen by typing ‘CISACCNT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button. A screen giving all the details of the accounts is displayed.

In the above screen, you can base your queries on any or all of the following parameters and fetch records:

Select any or all of the above parameters for a query and click ‘Search’ button. The records meeting the selected criteria are displayed as follows:

7.2 Ar Rahnu Account Details

This section contains the following topics:

7.2.1 Maintaining Ar-Rahnu Account Details

Ar-Rahnu transaction represents a collateral based financing. The customer provides gold as collateral against which the bank provides finance at no profit. However, Bank collects charges periodically towards safekeeping of the collateral.

Oracle FLEXCUBE facilitates maintenance of collateral and booking of the financing transaction using ‘Ar-Rahnu Account Input’ screen. You can invoke ‘Ar-Rahnu Account Details’ screen by typing ‘CIDARANT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can maintain the following parameters here:

7.2.2 Rollover Tab

Click ‘Rollover’ tab to maintain rollover details.

You can maintain the following rollover details here:

Ar-Rahnu Extensions

Specify the number of extensions or rollovers you want to allow for the Ar-rahnu account.

For details about the remaining fields in the tabs and buttons of ‘Ar-Rahnu Account Input’ screen refer ‘Account Main Details/Light Finances’ section of the ‘Account Creation’ chapter of this module.

The system validates the following parameters while saving an Ar-Rahnu account:

While manually disbursing an Ar-Rahnu product category account, the system validates if the disbursement amount is equal to the amount financed. If the they are not equal, then the system displays the error message as ‘For ARRAHNU accounts the full amount financed should be disbursed’.

Ar-Rahnu extensions or re-pledge are processed through account rollover, because when a part of the financed amount is paid, the remaining amount is converted as a new financing account.

7.2.3 Viewing Ar-Rahnu Account Details

You can view details related to Ar-Rahnu accounts using ‘Accounts Summary’ screen. You can invoke the ‘Account Summary’ screen by typing ‘CISARANT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button. A screen giving all the details of the accounts is displayed.

You can query a record using the following options:

Account

Specify a valid account based on which you need to view record from the adjoining option list.

Branch

Specify a valid code of the branch based on which you need to view record from the adjoining option list.

Customer ID

Specify a valid customer ID based on which you need to view record from the adjoining option list.

Product Code

Specify a valid code of the product based on which you need to view record from the adjoining option list.

Value Date

Specify a valid value date based on which you need to view record from the adjoining calendar.

Maturity Date

Specify a valid maturity date based on which you need to view record from the adjoining calendar.

Currency

Specify a valid code of the currency based on which you need to view record from the adjoining option list,

Amount Financed

Specify a valid amount financed based on which you need to view record from the adjoining option list.

User Defined Status

Specify a valid status defined by the user based on which you need to view record from the adjoining option list

Alternate Account Number

Specify a valid alternate account number based on which you need to view record from the adjoining option list

Account Status

Select an authorization status of the Ar-Rahnu accounts based on which you need to view record from the adjoining drop-down list. This list provides the following options:

Authorization Status

Select an authorization status of the Ar-Rahnu accounts based on which you need to view record from the adjoining drop-down list. This list provides the following options:

Click ‘Search’ button. The system identifies all records satisfying the specified criteria and displays the following details for each one of them:

7.3 Event Checklist

This section contains the following topic:

7.3.1 Maintaining Event Checklist

Event checklist is a list of items that pops up when an online function is triggered. You can invoke the ‘Check List Maintenance’ screen by typing ‘CLDCHKMT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

7.4 Down Payment Details

This section contains the following topics:

7.4.1 Processing Down Payments

You can maintain details of the down payment given by the customer, after the account is booked in the Oracle FLEXCUBE. You can also capture down payment details for an existing account using the ‘Islamic Down Payment Details’ screen. You can invoke this screen by typing ‘CIDDPYNT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

Here you need to specify the following details:

Down Payment Reference

The system defaults the down payment reference number here. You cannot modify it.

External Reference Number

The system displays the Teller Reference number if down payment is received by teller.

If down payment is not received by teller, then the system displays Down payment reference number.

Financing Account Number

You can specify the financing account number of down payment. Alternatively, you can select financing account number from the option list. The list display all valid uninitiated accounts maintained in the system.

Customer ID

Based on the ‘Down Payment Reference Number’ captured, the system populates the customer name. You cannot modify it. However, you can select the ‘Customer’ from the option list, if the down payment reference number is not captured.

Note

During linkage of financing account to an existing Down Payment record, if customer ID is available for the record, the system will allow linkage of only financing account of that cus­tomer.

Customer Name

The system displays the name of the customer for the selected customer ID.

Financing Account Currency

Based on the ‘Financing Account Number’ captured, the system displays the currency of the account. You cannot modify it. However, you can select the ‘Account Currency’ from the option list, if the Financing Account Number is not captured.

Amount

You can enter the down payment amount received from the customer in this field.

Transaction Currency

Specify the transaction currency. Alternatively, you can select transaction currency from the option list. The list displays all valid transaction currency maintained in the system.

Payment Branch

Specify the payment branch code. Alternatively, you can select payment branch code from the option list. The list displays all valid payment branch code maintained in the system.

Payment Mode

Select the mode of payment from the drop-down list. The list displays the following values:

Note

For each of these payment modes a retail teller product is mapped in a factory shipped table and the ‘Track Receivable’ option is unchecked from the ’Retail Teller Product Pref­erence’ screen for these Retail Teller products.

For more details about Retail Teller Products refer ‘The Retail Teller Module –An Overview’ chapter in the Retail Teller User Manual.

Account

Specify the account number of the customer. Alternatively, you can select account number from the option list. The list displays all valid account number maintained in the system.

Account Description

The system displays the name of the GL/ Customer Account selected.

Account Branch

The system displays the branch code for the selected account number.

Account Currency

The system displays the currency code for the selected account number.

External Reference Number

The system displays the external reference number.

Down Payment Value Date

Here the value date of down payment will get defaulted to application date.

Exchange Rate

If the customer’s account currency is different from the CL account currency the system defaults the standard exchange rate. You can modify it.

Narrative

Specify additional information related to the payment, if any.

If payment is done by cash, the system displays narrative details captured in 5403 teller screen.

7.4.2 Down Payment History Button

Click ‘Down Payment History’ button in the ‘Islamic Down Payment’ screen to get the ‘Down Payment Details’ screen. This screen displays the previous Down Payment details for the selected account.

This sub-screen will fetch data only if the Financing Account Number is selected in the screen.

When the financing account number is not selected during transaction, the sub-screen will not have any value..

 

7.4.3 Events Button

Click ’Events’ button in the ‘Down Payment Details’ screen and view the ‘Accounting Entries’ screen.

On saving the payment, the system will pass the following accounting entries:

Accounting Role

Amount tag

Dr/Cr

CUSTOMER/GL

TXN_AMT

Dr

DPRCVDGL

OFS_AMT

Cr

Note

While reversing the down payment, accounting entries will also be reversed with the neg­ative values. However the reversal of down payment is not allowed, if the payment is al­ready linked to an account and if the disbursement event of that account is already triggered.

7.4.4 Viewing Down Payment Details

You can view details of the down payment given by the customer, after the account is booked in the Oracle FLEXCUBE using the ‘Islamic Down Payment Summary’ screen. You can invoke this screen by typing ‘CISDPYNT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can query a record using the following options:

Click ‘Search’ button. The system identifies all records satisfying the specified criteria and displays the following details for each one of them:

7.5 Down Payment in Cash

This section contains the following topic:

7.5.1 Capturing details of Down Payment in Cash

Oracle FLEXCUBE allows you to receive down payments by cash from customers for Financing Accounts using the ‘Islamic Down Payment Detail’ screen. You can invoke this screen by typing ‘5403’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can specify the following details:

Financing Account Number

Specify the financing account number for which down payment is being made. Alternatively, you can select financing account number from the option list. The list displays all financing accounts of the branch for which down payment is pending.

It is not mandatory to link an account for a down payment being made.

Note

If you have specified financing account number, then the system will default customer ID, customer name and financing account currency. These values cannot be changed.

If you have not specified financing account number, then you can select financing account currency from the option list.

Customer ID

Specify the customer ID linked to the financing account.

Customer Name

The system displays the customer name linked to the financing account.

Financing Account Currency

Specify the account currency of the linked financing account.

If financing account is not linked, then it is mandatory to select the Financing Account currency.

Down Payment Value Date

The system displays the current date of the branch.

Down Payment Reference

The system displays down payment transaction reference number based on authorization of the teller transaction after triggering the internal down payment detail transaction.

Down Payment Payable

The system displays the down payment outstanding for the financing account chosen.

Down Payment Amount

The system displays the down payment payable amount. You can reduce the amount populated, if required.

Transaction Currency

Specify the cash transaction currency code. Alternatively, you can select transaction currency code from the option list. The list displays all valid transaction currency code maintained in the system.

By default the Transaction Currency will be same as Account Currency.

Transaction Amount

The system displays the amount paid for the transaction in the transaction currency.

Exchange Rate

The system displays an exchange rate between the transaction currency and account currency. This will be picked up based on the rate type linked to teller product.

The system will populate an exchange rate on tabbing out from transaction currency field. You can amend this field.

Click ‘Pick Up’ button to trigger the computation of charges and exchange rate.

Narrative

Specify additional information, if any.

Total Charges

The system displays the total computed charge amount in transaction currency.

Net Amount

The system displays the total transaction amount and sum of the computed charge amount in transaction currency. The denomination tracking will be done for the Net Amount in Transaction Currency.

External Reference

The system displays the Teller transaction reference number.

7.5.2 Denomination Button

You can specify denomination details in ‘Denomination Details’ screen by clicking ‘Denomination’ button in ‘Islamic Down Payment Detail’ screen.

You can specify the following details:

Currency Code

Specify the currency code.

Preferred Denomination

Specify the preferred denomination details.

Cash Amount

Specify the denomination amount.

Denomination Total

Specify the total denomination details.

Click ‘Populate’ button to view the following denomination details:

7.5.3 Charge Button

You can view charge details by clicking ‘Charge’ button in ‘Islamic Down Payment Detail’ screen.

You can view the following details:

Charge Components

The system displays the charge component details.

Waiver

The system displays waiver details.

Currency

The system displays the currency code.

Charge Amount

The system displays the charge amount.

Charge in Local Currency

The system displays the charge details in local currency code.

Exchange Rate

The system displays the exchange rate code.

7.5.4 MIS Button

You can specify MIS details by clicking ‘MIS’ button in ‘Islamic Down Payment Detail’ screen.

You can specify the following details:

Composite MIS

Specify the composite MIS details. Alternatively, you can select composite MIS code from the option list. The list displays all valid composite MIS code maintained in the system.

Transaction MIS

Specify the transaction MIS details. Alternatively, you can select transaction MIS code from the option list. The list displays all valid transaction MIS code maintained in the system.

7.5.5 UDF Button

You can view UDF details by clicking ‘UDF’ button in ‘Islamic Down Payment Detail’ screen.

You can view the following details:

Field Name

The system displays the user defined filed name.

Field Value

The system displays the user defined field value.

7.5.6 Down Payment History Button

You can view Down Payment History details by clicking ‘Down Payment History’ button in ‘Islamic Down Payment Detail’ screen.

You can view the following details:

Account

The system displays the account details.

Currency

The system displays the currency details.

Down Payment

The system displays the down payment details.

Future D/P

The system displays the Future D/P details

Process Reference

The system displays the process reference details.

Down payment Amount in Transaction Currency

The system displays the down payment amount in transaction currency details.

Transaction Currency

The system displays the transaction currency details.

Value Date

The system displays the value date.

Amount in Account Currency

The system displays the amount in account currency.

Total Down Payment Amount

The system displays the total down payment amount.

 

7.5.7 Processing of Teller Transaction

You can maintain Retail Teller product ‘HJCP’ for the INIT event of the Down Payment Cash transaction.

If CASH GL is maintained in ‘Till and Vault Parameter Maintenance’, then the system will use that GL for the cash leg. Else, the system will use CASH GL maintained as offset account in the ARC maintenance for the HJCP product as debit account.

You can maintain miscellaneous credit GL as the transaction account of the ARC.

On booking down payment cash transaction, the system will link Financing account belonging to the same branch to the Down payment.

You can also book the cash payment without linking any Financing account. You need to manually link such payments to a finance account subsequently. The teller should enter the following transaction details:

You can specify the customer ID if financing account is not linked. This is not mandatory.

After specifying the required transaction details, the system will execute the following actions on clicking ‘Pick Up’ button:

You can modify these system computed charges. Charges will be collected as an additional cash amount. You need to provide currency denomination details.

On saving Down payment cash transaction, the system will pass the following accounting entries for INIT event of the teller transaction:

Dr/Cr

Accounting GL

Amount

Currency

Transaction reference

Dr

CASH GL

OFS_AMT

Transaction Currency

Teller reference

Cr

SUSPENSE GL

TXN_AMT

Financing Account Cur­rency

Teller reference

Dr

CASH GL

CHG_AMT1

Transaction Currency

Teller reference

Cr

INCOME GL

CHG_AMT1

Income Cur­rency

Teller reference

Teller limit validation will be based on transaction currency and amount. On authorization of the Down Payment Cash transaction, the system will internally trigger Down Payment Detail transaction with payment mode as ‘GL Transfer’.

Note

The Suspense GL that is maintained as transaction account for cash payment will be fetched as the GL Account for the transaction.

You can print Down Payment Cash transaction advice for the transaction with the following details:

7.6 Murabaha Cash Payment

This section contains the following topic:

7.6.1 Capturing Murabaha Payment by Cash

Oracle FLEXCUBE allows you to repay Murabaha financing accounts by cash.using ‘Murabaha Payment by Cash’ screen. You can invoke this screen by typing ‘5402’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can specify the following details:

Murabaha Account Reference

Specify the Murabaha account for which the cash payment is being made. Alternatively, you can select Murabaha account number from the option list. The list displays all Murabaha account reference number maintained in the system.

The system will allow only logged in branch accounts to be selected.

Value Date

The system displays the value date.

Click ‘Populate’ button to fetch the details for Murabaha account for which the Cash Payment is being done.

Customer ID

Specify the customer ID linked to the Murabaha account.

Customer Name

The system displays the customer name linked to the Murabaha account.

Murabaha Account Branch

The system displays the Murabaha account branch code.

Murabaha Amount

The system displays the Murabaha amount financed under the Murabaha account.

Murabaha Amount Disbursed

The system displays the amount disbursed under the Murabaha account.

Amount in Financing Currency

Murabaha Account Currency

Specify the Murabaha Account currency for the Murabaha account. Alternatively, you can select Murabaha account currency code from the option list. The list displays all Murabaha account currency code maintained in the system.

Amount Payable

The system displays the unpaid previous installments including Penalties in Financing Account Currency.

Re-payment Amount

The system displays the amount payable for the account. The system re-recalculates the amount based on the transaction currency and transaction amount entered.

Amounts in Transaction Currency

Transaction Currency

The system displays the Murabaha transaction currency code. You can amend this field.

Transaction Amount

The system defaults the amount payable on population of financing account details. You can amend this field.

Click ‘Pick Up’ button to trigger the computation of charges and exchange rate.

Exchange Rate

The system displays the exchange rate picked from the rate type linked to the teller product. You can amend this field.

Total Charges

The system displays the total computed charge amount in transaction currency.

Net Amount

The system displays the total transaction amount and sum of the computed charge amount in transaction currency. The denomination tracking will be done for the Net Amount in Transaction Currency.

Narrative

Specify additional information, if any.

External Reference

The system displays the Teller transaction reference number.

7.6.2 Denomination Button

You can specify denomination details in ‘Denomination Details’ screen by clicking ‘Denomination’ button in ‘Murabaha - Payment by Cash’ screen.

You can specify the following details:

Currency Code

Specify the currency code.

Preferred Denomination

Specify the preferred denomination details.

Cash Amount

Specify the denomination amount.

Denomination Total

Specify the total denomination details.

Click ‘Populate’ button to view the following denomination details:

7.6.3 Charge Button

You can view charge details by clicking ‘Charge’ button in ‘Murabaha - Payment by Cash’ screen.

You can view the following details:

Charge Components

The system displays the charge component details.

Waiver

The system displays waiver details.

Currency

The system displays the currency code.

Charge Amount

The system displays the charge amount.

Charge in Local Currency

The system displays the charge details in local currency code.

Exchange Rate

The system displays the exchange rate code.

7.6.4 MIS Button

You can specify MIS details by clicking ‘MIS’ button in ‘Murabaha - Payment by Cash’ screen.

 

You can specify the following details:

Composite MIS

Specify the composite MIS details. Alternatively, you can select composite MIS code from the option list. The list displays all valid composite MIS code maintained in the system.

Transaction MIS

Specify the transaction MIS details. Alternatively, you can select transaction MIS code from the option list. The list displays all valid transaction MIS code maintained in the system.

7.6.5 UDF Button

You can view UDF details by clicking ‘UDF’ button in ‘Murabaha - Payment by Cash’ screen.

You can view the following details:

Field Name

The system displays the user defined filed name.

Field Value

The system displays the user defined field value.

7.6.6 Processing of Teller Transaction for Murabaha Payment by Cash

If CASH GL is maintained in ‘Till and Vault Parameter Maintenance’, then the system will use that GL for the cash leg. Otherwise, CASH GL maintained as offset account in the ARC maintenance for the MRPY product will be used as debit account.

You can book Murabaha Payment by Cash transaction by providing a Murabaha Account Reference and payment Amount in Financing Currency.

The system populates the component name, currency and the outstanding amount for the component subsection.

After providing the transaction details and on clicking the ‘Pick Up’ button, the system will execute the following actions:

You can modify the system computed charges and exchange rate. You can also specify the denomination details.

While saving Murabaha Payment by Cash transaction, the system will pass the following accounting entries:

Dr/Cr

Accounting GL

Amount

Currency

Transaction Reference

Dr

CASH GL

OFS_AMT

Transaction Currency

Teller reference

Cr

Product Main­tenance for an Account CID­PRMNT

TXN_AMT

Murabaha Account Currency

Teller reference

On authorizing ‘Murabaha - Payment by Cash’, the Murabaha cash payment transaction will internally trigger a Payment Input (CIDPYMNT) transaction and the system will trigger MLIQ event for the Murabaha account in the account branch.

During payment by cash even if the transaction is assigned to another user, the same is not displayed in the list of unauthorised transactions in CIDPYMNT screen. The transaction is shown as pending in work-flow.

The system will also allocate the payment based on the finance product preferences. You cannot modify this value.

The system will populate the settlement details with the payment mode as ‘Account’ as follows:

Settlement Fields in CIDPYMNT

Settlement Details

Settlement Branch

Teller transaction Branch

Settlement Currency

Finance Account Currency from teller screen

Settlement Account

Settlement Account Maintained at the Product Level for an Account

Settlement Amount

Repayment Amount

Exchange Rate

1

You can print the advice for the Murabaha Payment by Cash transaction as follows:

Following maintenance are to be followed for teller transaction:

7.7 Inactive Account Details

This section contains the following topic:

7.7.1 Capturing Finance Details

During Finance processing, it is required to capture finance details and not initiate till verification of documents, etc. This module creates a finance account in an inactive state. Inactive finances are input by a separate screen similar to the Accounts screen or by Uploads. After manual verification the account is entered as an inactive account. The account is activated once the requisite documents are received. You can invoke ‘Inactive Accounts’ screen by typing ‘CIDINADT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

The system captures the following details and generates an inactive account:

Modifications are allowed on inactive finances even after authorisation and there are no restrictions on inactive finances modifications. Finance details are handed off to other systems. Messages such as Finance advice or Promissory Notes can also be generated.

7.7.1.1 Operations on Inactive Finances

It is possible to modify an inactive finance and save it even after authorisation. When the account is activated it will be an unauthorized account and behaves like an account directed created /uploaded into the system. It is possible to delete the same too. The user can change all finance account properties.

Click ‘Active Account’ button to activate the finance. This changes the funded status of the finance. Once activated, the account cannot be deleted after authorisation and cannot be unlocked after one save.

Accounting entries and limit updates are not called when the finance is inactive. Accounts queries do not display inactive accounts and Inactive accounts views do not show active accounts.

If an account is created after its value date, it behaves as a Back valued finance entry. If it is created after its maturity date, it behaves like an overdue account.

Inactive finances are created with a sequence that is different from the account mask maintained. Upon activation, the account mask is used to create a new account. Hence the account number of an activated account differs from its inactive version.

7.7.1.2 Activating Finances and Limit Earmarking

Inactive finances are activated by clicking on Activate Account button or through an upload. Upon finance activation, Limits Utilizations are updated. Accounting entries are passed for disbursement and for any upfront changes as defined in the product.

The earmarked amount field shows the total earmarking and an earmarking reference number is captured. Upon the actual finance initiation, utilization is made on the line and real entries passed.

7.7.1.3 Deleting Inactive finance

Inactive finances can be deleted even after the authorisation of Inactive finance account. In Bank Parameters, Site specific parameters are provided to control the automatic deletion of Inactive finances. An Inactive Finance processing supports this deletion.

7.8 Finance Simulation

This section contains the following topics:

7.8.1 Simulating a Finance

You can simulate finances to answer customer queries especially for new finances and pre-paid finances. The payment schedules of any type of Finance Products can be generated while negotiating with clients during the Presale stage.

You can use the ‘Account Simulation’ screen to simulate a finance. This screen is similar to the ‘Account Details’ screen. You can invoke this screen by typing ’CIDSIMNT’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

Simulation will function in exactly the same way as a regular finance input. All warnings and overrides associated with an actual contract save will come in a simulation. For e.g. if the finance results in the overdrawing of the customers finance line, then an Override will be thrown up. However, no data will be stored in Oracle FLEXCUBE.

Click on ’Create Active Account’ button to create a finance directly from the simulator. Only users with rights to invoke Oracle FLEXCUBE finance creation function will be allowed to create finances from the simulation function. The sequence of the Finance account thus created is based on the branch level account mask maintained.

Similarly, click on ’Create Inactive Account’ button to actually create an inactive account based on the simulated data.

A separate Sequence number is provided to create reference numbers for Simulations. These are one time reference numbers for simulation purposes only and are not used for final finance. The User Defined Reference Number facility of Oracle FLEXCUBE is used to create Finance Simulation Sequences.

If the simulator is launched from Oracle FLEXCUBE, simulations can be run several times to examine the impact of different parameters on the finance. If the simulator is invoked from a channel, all parameters should be specified afresh for each invocation.

Finance advices can be printed from the screen based on the finance account simulated. This is allowed for finance accounts created in the system prior to their being initiated. Subsequently, advices configured through the events screen will be triggered.

For further details on this screen, please refer ‘Creating Account Details/ Light Finances’ section in this User Manual.

7.8.2 Installment Query Button

Click ‘Installment Query’ button in the ‘Account Simulation - Main’ screen and invoke the ‘Installment Query’ screen.

The screen helps you to query the installment details of all the available components based on the Schedule due date. On product default, installment details will be repopulated if there is any impact on schedules.

7.8.3 Ijarah Button

Click ’Ijarah’ button in the ‘Account Simulation - Main’ screen and invoke the ‘Ijarah’ screen.

The following details can be captured in this screen:

7.9 Sales Confirmation

This section contains the following topics:

7.9.1 Triggering Details of Sale Confirmation

Using this screen the system can trigger the Sale Confirmation (CONF) event for an account. To invoke ‘Sale Confirmation Details’ screen from the Application Browser. You can invoke this screen by typing ‘CIDTSALE’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can maintain the following details:

Branch Code

You can specify the branch code from the option list.

Account Number

You can specify the account number of the customer from the option list. The option list displays all the authorized, uninitiated accounts of the product whose ‘Sale Confirmation Required’ option is checked in the ‘Preference’ screen.

Customer ID

The system displays the customer ID.

Customer Name

The system displays the customer name.

Sale Date

In this field the current application date will get defaulted.

Remarks

You can specify the remarks for the sale confirmation. This field is applicable only for the accounts under the product whose ‘Sale Confirmation Required’ option is checked in the ‘Preference’ screen.

Note

After authorizing the Screen, the CONF (Sale Confirmation) event will get triggered. How­ever, if the value date of the account is on or before the application date then CONF (Sale Confirmation) event will trigger the Initiate or disbursement events.

Tawarooq Details

Tawarooq Deal

Specify the Tawarooq deal. Alternatively, you can select Tawarooq deal from the option list. The list displays all valid Tawarooq deals maintained in the system.