The Sharia or the Islamic law derived from the holy book of Quran forms the guiding principle for Islamic Banking System. This unique accounting system is an ethical and equitable financial service that prohibits the collection or payment of interest (riba) and investment in business that is unlawful or haram. Another distinctive element of Islamic banking is sharing of profit and loss that makes the customer a partner to the bank.

Islamic Banking is rapidly expanding in and out the Muslim world in countries like Malaysia, Bahrain, UAE, Kuwait, Qatar, Saudi Arabia, South Africa, Switzerland and UK.

Expertise in financial consulting to banks and financial institutions and the strong support and presence in the middle east, a hub to Islamic banking made Dimensional financials enter the arena dynamically.

Islamic Banking Dimensions from Dimensions financials provides highly customizable Sharia based accounting concepts followed by a full-fledged accounting system. Each of the installations is treated as priority projects dedicating experts for customizing solutions to deliver and cater all the expectations of the client.

This banking solution provides for investments in debt based contracts and equity based contracts.

Banking operations are conducted through the following accounts:


MUDARABHA is a special kind of partnership where one partner gives money to another for investing it in a commercial enterprise. The investment comes from the first partner who is called "rabb-ul-mal", while the management and work is an exclusive responsibility of the other, who is called "mudarib".


MURABAHA in its original Islamic connotation is simply a sale. The only feature distinguishing it from other kinds of sale is that the seller in murabahah expressly tells the purchaser how much cost he has incurred and how much profit he is going to charge in addition to the cost.


ISTISNA’A is “a contract with a manufacturer to make something “or “a contract on a commodity on liability with the provision of work.”


BEI’SALAM This technique is a method of providing working capital finance. Essentially Bei’salam is a forward financing transactions where the buyer pays for goods, such as raw materials, in installments .


MUSHARAKAH means partnership. It involves you placing your capital with another person and both sharing the risk and reward. The difference between Musharaka arrangements and normal banking is that you can set any kind of profit sharing ratio, but losses must be proportionate to the amount invested.


IJARA is an Islamic lease agreement. Instead of lending money and earning interest, Ijara allows the bank to earn profits by charging rentals on the asset leased to the customer. Ijara wa iqtinah extends the concept of ijara to a hire and purchase agreement.


SUKUK is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. However, fixed income, interest bearing bonds are not permissible in Islam, hence Sukuk are securities that comply with the Islamic law and its investment principles, which prohibits the charging, or paying of interest. Sukuk is a certificate of equal value representing undivided shares in ownership of tangible assets, usufruct and services or (in the ownership of) the assets of particular projects or investment activity.

Islamic banking also offer Savings Accounts, Deposits Accounts, Current Accounts, Credit Cards, Auto finance, Home finance etc. in accordance with the rules of Sharia known as Fiqh al-Mumalat ( Islamic rules on transaction .


Islamic Banking Dimensions features

• A complete web based solution.
• Configurable banking products.
• Supports multi-currency, multi-language, different time-zone.
• Built-in TPS, history / Audit trials
• Supports multi-stage transactions
• PDF/HTML/ Excel reporting options.
• Re-usable components for creation of multi-layer of accounting
• FREE built-in Core Modules for User Management, Module Management, Organization Management and • Internal Mail
• Interface to popular emails and SMS systems.
• The fully customizable reporting includes comprehensive Graphical Layouts.