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3 rd Global Islamic Microfinance Forum 6 - 8 October 2013 Dusit Thani Hotel - Dubai

IT Solutions for the Islamic Microfinance Industry. 3 rd Global Islamic Microfinance Forum 6 - 8 October 2013 Dusit Thani Hotel - Dubai . Rohana Abdul Munim General Manager Malaysia Head of Islamic Finance Strategic Initiatives Path Solutions.

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3 rd Global Islamic Microfinance Forum 6 - 8 October 2013 Dusit Thani Hotel - Dubai

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  1. IT Solutions for the Islamic Microfinance Industry 3rd Global Islamic Microfinance Forum 6 - 8 October 2013 DusitThani Hotel - Dubai Rohana Abdul MunimGeneral Manager Malaysia Head of Islamic Finance Strategic Initiatives Path Solutions

  2. Possible Challenges in Islamic Microfinance • Financial products that comply with Shariah law  • Diversity of products to cater for the Islamic Microfinance requirements  • Sustainable business models that incorporate operational efficiency and risk management  • IT solution that can support and drive the Islamic Microfinance activity • Capacity building at both the macro and micro levels • Sources of funding

  3. Ultimate Goal for the Islamic Microfinance Industry • Create successful and prudent Microfinance sector that can bring impact to the socio economic development among the poor • Moving from poverty alleviation to entrepreneurial development as a natural progression and outcome of the Microfinance program  • Create growth and self-sustainable Microfinance organizations, and reduce reliance on external sources of funding • Microfinance as an effective platform for financial inclusion among the unbanked, voluntarily or involuntarily financial excluded segment

  4. Usage of IT in Islamic Finance and Microfinance • Systematic data management, consolidation and reporting • Bird’s eye view of the organization achievement and growth • Improve productivity and efficiency at both operational and business level • Shariah compliant processes and behaviour • Support diversity of products and innovation • Support growth and sustainability of the organization • Proper risk management and reporting

  5. About Path Solutions • Path is a Kuwaiti Shareholding Company • Founded in (as an IT Consultancy Firm) November 1992 • Beirut development center October 2000 • Bahrain support office October 2003 • London support office February 2007 • Kuala Lumpur support office September 2007 • Karachi support office April 2009 • Riyadh support office August 2009 • Jakarta support office November 2009 • Khartoum support office December 2009 • Egypt( development center), Dubai, Kenya, Singapore 2010 • India support office July 2013 • Upcoming support center in Oman

  6. Our Vision To be the most trusted and innovative provider of information technology solutions and services for the global financial industry & in specific the Islamic Financial industry. High quality in our products and services is vital to the success of our customers and partners. In helping our customers and partners become successful, we must strive to maintain the highest ethical standards and integrity. To achieve these goals, it is our policy to involve all employees in programs to improve our products, services, and the productivity of our internal processes. Mohammed Kateeb Chairman & CEO Quality Code

  7. Our People • 6 Employees in 1993 • 20+ Employees in 1997 • 64+ Employee in 2005 • 120+ Employees in 2006 • 205+ Employees in 2007 • 398 Employees in 2008 • 450 Employees in 2010 • 375 Employees in 2011 • 400 Employees in 2012 • 485 Employees in 2013

  8. Our Expert Resources Path team constitutes of full time consultants in the areas of: Finance Banking & Investment IT development System Engineering Accounting, Internal & System audit

  9. Area of Focus Path offering consists of integrated business solutions and services for the following major business segments: Islamic Banks Islamic Investment Companies Islamic Consumer Finance Companies Islamic Microfinance Institutions Universal Banks Investment Companies and Fund Managers Financing Companies

  10. Our Products and Services Our Services Offering include • Project management • Business and technology consulting • Systems integration • Business continuity planning (Make sure of the plan ) • Customization - address clients specific needs (Plan matching with the solution) • On going maintenance and first line of support Our Products Offering include • Islamic Core Banking Solution - iMAL • Islamic Window Solution - iWINDOW • Financial institutions, SMEs and Microfinance Organizations - iSHRAQ

  11. iSHRAQfor Islamic Microfinance Industry

  12. iSHRAQ Product Suite Common Components Common Components Swift Approval Workflow Data Mart Business Parties Scheduled Tasks Collaterals Security Products & Assets Service Bus Back Office Core Banking Credit Bureaus Legacy Systems

  13. Functional Architecture

  14. Functional Architecture

  15. Control Logic Business Tier System Architecture – N Tier Data Access Tier Database Tier

  16. iSHRAQ Product Suite – Technology Roadmap

  17. iSHRAQ*Finance – Main Components

  18. Business Entities in Finance – Legal Entities

  19. Is Your Customer Credit Worthy?

  20. Repayment – Setup

  21. Charges – Setup

  22. Collateral – Setup

  23. Approval Work Flow – Setup

  24. Financial Product – Setup

  25. Financial Product – Setup

  26. Limit Management

  27. Provision – Setup

  28. Contract Maintenance Transactions

  29. Collection and Settlements

  30. Collection and Settlements

  31. iSHRAQ for Islamic Microfinance

  32. iSHRAQ for Islamic Microfinance Campaign • Applicant visit • Application filling • Primary approval • Encouragement meetings • Commitment fee payment • Attendance tracking to induction course • Collection of attendance fee

  33. iSHRAQ for Islamic Microfinance • Collection of required financing application documents • Agreement on financing amount and repayment tenure • Final Approval • Takaful coverage • Group forming, leader selection, and setting the periodical meeting date / location • Financing disbursement Booking

  34. iSHRAQ for Islamic Microfinance Follow-up & Maintenance • Periodical meetings for payment collection • Periodical visits to follow up on the usage of fund • Maintenance for the financing facility: • Financing rescheduling • Early settlement • Financing cancellation • Arbitration closures

  35. iSHRAQ for Islamic Microfinance Post Maturity • Compliance with Microfinance program will allow members to: • Apply other financing programs before or after current financing maturity • Apply similar financing program after its maturity with greater amounts

  36. If you are interested to know more about iSHRAQoffering, please contact: Rohana Abdul Munim Rmunim@path-solutions.com Mobile: +6012-3349020 Thank You! www.path-solutions.com

  37. 192 Ahmad Block, New Garden Town, Lahore - Pakistan. Ph: (92-42) 35913096 - 98, Fax: (92-42) 35913056 Email: info@alhudacibe.com www.alhudacibe.com

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