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September 20, 2011

Oracle releases Financial Services Basel II

For banks that need to meet Islamic financial services board guidelines for capital adequacy

By CBR Staff Writer

Oracle released the new update of its Basel II application that is designed to provide compliance with Basel II guidelines in multiple jurisdictions.

The company said that the new release now supports the capital adequacy compliance requirements for Islamic banking products based on Sharia law. The Islamic Financial Services Board (IFSB) provides guidance on how to apply Basel II regulations for banks offering Islamic banking products, said Oracle.

The application covers the IFSB regulations on computation and disclosure, said the company.

It added, Oracle Financial Services Basel II eases supervisory review and enables regulatory capital computation at granular and aggregated levels. Oracle said the new attribution analysis capability provides an in-depth understanding of cross-time changes in risk weighted assets (RWA) and capital adequacy ratios (CAR).

With Oracle Financial Services Basel II, banks can simultaneously apply different capital adequacy approaches against different portfolios enabling institutions to carry out impact analysis of alternate options/approaches available to them under jurisdiction-specific guidelines, said Oracle.

The company also said that Oracle Financial Services Basel II is designed to work with existing Oracle Financial Services Analytical Applications, and integrates easily with other third-party offerings.

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Oracle Financial Services Analytical Applications group vice-president and general manager S Ramakrishnan said as Islamic banking operations scale and expand into new geographies, there is an urgent need to reconcile their approach to risk and capital adequacy with Basel and other global regulatory standards.

Ramakrishnan added, "Oracle supports the emerging analytical requirements of Islamic banking institutions with easy-to-deploy and comprehensive solutions, such as the newest release of Oracle Financial Services Basel II, which facilitates compliance with IFSB capital adequacy guidelines and Basel II."

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