Software company makes Basel programme sharia-compliant
Quadrant, a software company, will extend its Basel II Pillar 1 compliance package to cover sharia.
The extension will enable companies offering only Islamic financial services to use the SAB² package.
Paul Lockyear, Quadrant’s chief operating officer, said: “We are responding to growing demand for capital adequacy reporting from financial services providers operating under Islamic financial regulations around the world.”
The launch of the updated package coincides with the opening of Quadrant’s Dubai office.
Quadrant based the changes to SAB² on the Islamic Financial Services Board’s (IFSB)
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