Late payment charges
Routed to charity, never to income.
ExampleFlagged
A late charge lands in a revenue account and is flagged for purification.
Every product on your books.
SITR monitors the full Islamic product suite at the transaction level, mapped to your Shari’a Supervisory Board’s rulings and AAOIFI Shari’ah Standards.
SITREngineMurabaha
Financing
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Murabaha
Cost-plus sale financing, monitored from asset purchase to final settlement. Bilateral, commodity and syndicated.
We check
- bank ownership and possession before sale
- contract sequence
- fixed and disclosed markup
- no repricing after execution
ExampleFlagged
The sale to the customer is dated 12 March, but the bank’s purchase from the supplier is dated 14 March. The bank sold an asset it did not yet own.
SITR flags the sequence break when the contract is booked.
Across Every Product
Some risks don’t belong to one product. SITR watches them everywhere.
Core system parameter drift
Configuration changes caught at the source.
ExampleFlagged
A profit-rate setting changes in the core system and silently alters charges across thousands of contracts.
SITR catches the change, not just the first bad transaction.
Prohibited sector screening
Counterparties and goods screened against prohibited activities on every deal.
Documentation and sequencing
Every contract checked for complete documents, signed in the right order.