Configuring Pools
  • 13 Feb 2024
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Configuring Pools

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Article Summary

The investment pool is the sum of deposited money that the deposit product uses for profit sharing. For more information on how this works for different types of Islamic financial instruments, see Islamic Banking Concepts. To configure the investment pools select the Configuration > Pools tab.

You can:

  • Create different pools by selecting Create Pool.
  • Edit existing options by choosing the Actions button and then selecting Create New Version.
  • View existing options by selecting the Actions button and then choosing View.
  • Copy existing options by clicking the Actions button and then selecting Create New Pool from this.
  • Deactivate existing options by selecting the Actions button and then choosing Deactivate.
  • Delete existing options by clicking the Actions button and then selecting Delete.

Pool

Investment pool parameters

ParameterDescriptionRequired
Effective dateThe date when the change should be implemented.YES
NameThe name of the investment pool. Include at least 3 or more characters, symbols cannot be used.YES
StatusWhether the investment pool is currently active or inactive.YES
DescriptionDocument additional details or context related to the pool.YES
Profit frequencySet the frequency for profit sharing.YES
Profit frequency unitSpecify the unit (e.g., days, months) corresponding to the profit frequency.YES
Days in monthDetermine the days used for monthly calculations. Currently not editable.YES
Days in yearDefine the annual basis for profit-sharing calculations.YES
Current profit calculation start dateIdentify the beginning date for the current profit-sharing cycle.YES
Next profit calculation dateThis field automatically calculates and specifies the upcoming date for profit-sharing distribution based on the profit frequency, profit frequency unit, and current profit calculation start date.YES
Customer share lossIndicates the impact on customer profits in specific scenarios.YES
Applied weightage average percentageThe rule on how to weigh the calculated profit amount. NOTE: default value - 100%, not editable for Early Access.YES
Bank investment P&L accountRefers to the specific accounts managed or affected by IPS (GL accounts for Profit & Loss account)NO

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