All financial institutions operating within the UK are compelled to report their financial activities and status to the Financial Conduct Authority (FCA) and Bank of England (BoE).
The FCA supervises the activities of the financial institutions and their compliance with the capital standards, required also by the Basel II accord for banking activities, and integrated regulatory reporting requirements.
The Agility solution enables BoE Statistical, FCA Liquidity and Capital Adequacy reporting.
Islamic banking products must consider ethical and joint risk concepts, as approved by the Shariah Committees, which their non-Islamic counterparts need not consider.
Over recent years, the growing interest and demand in Islamic Banking products have prompted many 'big name' banks to begin offering Shariah compliant products.
Hence, in addition to the standard reporting to the regional regulator (e.g. UK FCA), banks offering Islamic Banking products must also report that the Islamic product transactions and activities are in compliance with Islamic principles as approved by the Shariah Committee, Islamic Financial Services Board (IFSB), Accounting and Auditing Organisations for Islamic Financial Institutions (AAOIFI).
Broker Settlement Support enables brokerage business to leverage on our Model A settlement approach.
The solution provides full transparency over the entire trade life cycle from matching, confirmation and settlement (Crest, ICE, CME, Euroclear) and fails management.