Convert to Islamic Products & Accounts
  • 19 Feb 2024
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Convert to Islamic Products & Accounts

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Article Summary

The Islamic Products section within the IPS interface displays Islamic deposit products.

You may convert an existing conventional deposit product into an Islamic deposit product & accounts by:

  1. Selecting Link Product.
  2. Selecting a conventional deposit product to convert by selecting its checkbox.
  3. Adding the Effective Date for the conversion.
  4. Selecting the Link button.

Please note that the product must use cash accounting methodology.

Once a conventional deposit product has been converted to an Islamic deposit product, all accounts associated with this product will be converted too. After this action, interest/profit rate (including tiers) will be set to 0%, interest/profit term and source will be disabled.

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You may convert an Islamic deposit product & accounts to a conventional deposit product & accounts:

  1. Select the Islamic Products tab in the top menu.
  2. Find the deposit product you want to convert in the list and select Actions.
  3. Select De-link product.

After converting to a conventional deposit product & accounts you may need to configure it further. For more information on configuring conventional deposit products & accounts, see Managing Deposit Products and Editing Deposit Accounts.


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