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Shariah Compliant Factoring

Islamic Factoring

Optimai Islamic Factoring System enables financial institutions to set up and grow Islamic International Factoring business that is Shariah compliant.  

It supports both post-financing & pre-financing facilities including :

  • Factoring Facility
  • Bank Guarantee
  • Letter of Credit
  • Letter of Undertaking
  • Letter of Support.

The built-in dashboards provide smart and timely data analytics for management to run the business.  These business & credit analytics include :

  • Client profitability

  • Paymaster & Client concentration

  • Invoice & aging analysis.

Optimai Islamic Factoring System is ready, feature-rich and can be deployed quickly.  Key features include

  • New Facility including generation of legal documentations (such as Letter of Offer, Islamic Factoring Facility Agreement, Sales Agency Agreement, Al Kafalah Letter of Guarantee)
  • Document Management (such as upload of board resolutions, paymaster contracts)
  • Facility Renewal Management (such as renewal notice / fees / letter / checklist, revised terms)
  • Limits Control (such as paymaster limits, client facility limits, client level paymaster limits & recourse periods, sub-limits for bank guarantee / letter of credit / letter of undertaking / letter of support)
  • Profit Rate & Fees (such as processing fee, renewal fee, service fee)
  • Daily Operations including invoice processing, credit notes/ dispute handling, call/ site visit reports, generation of Schedule of Offer, disbursement of advance, generation of acceptance of purchase request
  • Make-checker control & full audit trail
Optimai Islamic Factoring System is built upon our award-winning Optimai PRIME – Digital FinTech Platform.  It can be easily extended to add new modules, connects seamlessly with external systems and is cloud ready.