Table of Contents
- Title and Copyright Information
- Preface
-
1
Overview of Islamic Letters of
Credit
- 1.1 Features
- 1.2 Operations supported on an Islamic LC
- 1.3 SWIFT Messages for an Import Islamic LC
- 1.4 SWIFT Messages for an Export Islamic LC
- 1.5 SWIFT Messages for a Standby Islamic LC
- 1.6 SWIFT Messages for a Clean Islamic LC
- 1.7 SWIFT Messages for a Guarantee
- 1.8 SWIFT Messages for a Shipping Guarantee
- 1.9 Process Commissions and Charges
- 1.10 Variations Supported for an Islamic LC
- 1.11 Red Clause Letter of Credit
- 1.12 Revocable and Irrevocable Islamic LCs
- 1.13 Transferable and Non Transferable Islamic LCs
- 1.14 Revolving and Non Revolving Islamic LCs
- 1.15 Sight and Usance Islamic LC
- 1.16 Open Ended Islamic LCs
- 1.17 Cash Collateral against an Islamic LC
- 1.18 Availment against an Islamic LC
- 2 Islamic Letters of Credit - Maintenance
- 3 Define Attributes specific to an Islamic Product
-
4
Process an Islamic LC Contract
- 4.1 Introduction
- 4.2 Islamic LC Contract Details
-
4.3
Islamic LC Contract Details Screen
Description
- 4.3.1 Description of the Islamic LC Contract Details Screen
- 4.3.2 Specify the Main Details of an Islamic LC
- 4.3.3 Update Parties’ Limits on Amendment of Islamic LC Contract
- 4.3.4 Update Parties’ Limits on Islamic LC Availments
- 4.3.5 Specify the Media Details for a Party
- 4.3.6 Specify Credit Administration Details
- 4.3.7 Specify Shipping for an Islamic LC
- 4.3.8 Specify Advices for an Islamic LC
- 4.3.9 Specify the Free Format Instructions that should accompany an Advice
- 4.4 Cancel an Islamic LC
- 4.5 Close, Reopen, and Black list an Islamic LC
- 4.6 Reverse Islamic LC
- 5 Additional Details
- 6 Islamic LC Availment
- 7 Amend Details of an Islamic LC
- 8 Islamic Letter of Credit Registration
- 9 Islamic LC Transfer
- 10 Islamic Guarantees and Standby Letter of Credit
- 11 Liquidate Receivable Components
- 12 Credit Limit Tracking for an Islamic LC
- 13 Automatic Processes
- 14 Simulation
-
15
Annexure A - Accounting Entries
- 15.1 Islamic LC Events
- 15.2 Amount Tags
- 15.3 Accounting Roles
-
15.4
Event-Accounting Entries
- 15.4.1 BISS: Booking of an import Islamic LC
- 15.4.2 Accounting Roles for Transfer of Charge & Commission Components from Islamic LC to BC
- 15.4.3 Accounting Entries for Transfer of Charge & Commission Components from Islamic LC to BC
- 15.4.4 Collateral Bridge Accounting Role
- 15.4.5 AVAL: Availment under Islamic LC
- 15.4.6 CLOS: Closure of an Islamic LC / Guarantee
- 15.4.7 REIN: Reinstatement of an Islamic LC / Guarantee
- 15.4.8 BADV: Advising an Islamic LC
- 15.4.9 BCFM: Confirming an Islamic LC
- 15.4.10 BPRE: Pre-advising an Islamic LC
- 15.4.11 BANC: Advising and Confirming an Islamic LC
- 15.4.12 AMND: Amendment
- 15.4.13 AOCF: Amendment from Open to Open and Confirm
- 15.4.14 APAD: Amendment from Pre-advice to Advice
- 15.4.15 APAC: Amendment from Pre-advice to Advice and Confirm
- 15.4.16 REVR: Reversal of an Islamic LC Contract
- 15.4.17 REVE: Reversal of an Islamic LC Event
- 15.4.18 ACCR: Accrual of Commission
- 15.4.19 CALC: Periodic Commission Calculation Date
- 15.4.20 CLIQ: Liquidation of Commission
- 15.4.21 ROPN: Reopening of an Islamic LC
- 15.4.22 CANC: Cancellation of an Islamic LC
- 15.4.23 TRGN: Generation of Tracers
- 15.4.24 AATC: Amendment from Advice to Confirm
- 15.4.25 RASN: Reassign an Islamic LC
- 15.4.26 RAVL: Reversal of Availment
- 15.4.27 MLIQ: Manual Liquidation of Islamic LC commission
- 15.4.28 WAIV: Waiver of Components during Manual Liquidation
- 15.4.29 GCLP: Guarantee Claim Settlement
- 15.4.30 AASC: Amendment of Advice to Silent Confirmation
- 15.4.31 TRAM: Transfer Amendment
- 15.4.32 RTRA: Reinstatement of Transferred LC Amount
-
16
Annexure B – Events and Advices
- 16.1 Islamic LC Events
- 16.2 Islamic LC Messages
- 16.3 Generate Multiple Copies of the Islamic LC Instrument
- 16.4 Generate Fax 700/707 LC Confirmation Mail Message Copy to Counterparty
-
16.5
Islamic LC Event - Messages
- 16.5.1 BISS: Booking of an Import Islamic LC/ Islamic Shipping Guarantee
- 16.5.2 AVAL: Availment under Islamic LC
- 16.5.3 CLOS: Closure of an Islamic LC/Guarantee
- 16.5.4 REIN: Reinstatement of an Islamic LC/Guarantee
- 16.5.5 BADV: Advising an Islamic LC
- 16.5.6 BCFM: Confirming an Islamic LC
- 16.5.7 BPRE: Pre-advising an Islamic LC
- 16.5.8 BANC: Advising and Confirming an Islamic LC
- 16.5.9 REIS: Reissue of Guarantee
- 16.5.10 AMND: Islamic LC Amendment
- 16.5.11 REVR: Reversal of Contract
- 16.5.12 REVE: Reversal of Event
- 16.5.13 ACCR: Accrual of Commission
- 16.5.14 CALC: Periodic Commission Calculation Date
- 16.5.15 CLIQ: Liquidation of Commission
- 16.5.16 ROPN: Reopening of an Islamic LC
- 16.5.17 TRGN: End of Day Check for Tracers
- 16.5.18 CANC: Cancellation of an Islamic LC
- 16.5.19 APAC: Amendment from Pre-Advice to Advice and Confirm
- 16.5.20 APAD: Amendment from Pre-advice to Advice
- 16.5.21 GCEX: Guarantee Claim Extension
- 16.5.22 RASN: Reassign an Islamic LC
- 16.5.23 RAVL: Reversal of Availment
- 16.5.24 CALC: Periodic Commission Calculation
- 16.5.25 Advice Generated for the Insurance Company
- 16.5.26 Advice Generated for the Counterparty
- 16.5.27 AASC: Amendment of Advice to Silent Confirmation
- 16.5.28 AMNV: Invitation of Amendment Confirmation
- 16.5.29 AREJ: Rejection Of Amendment Confirmation