Islamic banking refers to a system of banking or lending activity that is consistent with Islamic Law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest (also called riba). So how do Islamic banks make a profit? Islamic banks charge higher application fees than Western banks, charge higher on-going fees, and engage in profit sharing with the customer/client. But how does an Islamic bank calculate fees and measure profitability? How can the bank isolate who is more likely to default?

The Credience Corporation have found using advanced mathematics how to;

• Accurately score each client based on various propensity measures, such as likelihood of default

• Introduce Risk Based Pricing, in which the better credit quality clients are not unnecessarily disadvantaged with higher fees to cover the worse credit quality clients

• Map these Islamic Scores to the Basel II Capital framework to standardize and maximize international investments

• Numerous other synergies, as directed by the Credience Corporation.

To arrange for a demonstration or speak with our sales staff, please Contact us.

To report an issue with our products or ask a question, please reach Support.

To explore our services, please visit Services.