1. Export LC Advise - Islamic User Guide
  2. Export LC Advise - Islamic

2 Export LC Advise - Islamic

This chapter is documented to get familiar with the Export LC Advise - Islamic process of Oracle Banking Trade Finance Process Management.

As part of Conventional Export LC Advise, the advising bank will receive the LC through MT700, 701. The LC can be advise directly to the beneficiary if Advice Through Bank(ATB) is not applicable.

If ATB is applicable, then the LC is routed to the ATB by advising bank via MT 710, 711 and the ATB will advise the LC to the beneficiary. The various stages involved for Advise of an Islamic Export Letter of Credit are:
  • Receive and verify documents (Non Online Channel) - Registration stage
  • Input application details
  • Upload of related mandatory and non-mandatory documents.
  • Verify /capture details (SWIFT/Non Online Channels)- Scrutiny stage
  • Input/Modify details of LC - Data Enrichment stage
  • Check for limit availability if applicable.
  • Check balance availability for amount block
  • Check for sanctions & KYC status
  • Earmark limits/Create amount block for cash margin/charges if applicable
  • Capture remarks for other users to check and act
  • Hand off request to back office
The design, development and functionality of the Islamic Export LC Advise process flow is similar to that of conventional Export LC Advise process flow.In the following sections, let’s look at the details for Export LC Advising - Islamic process:

This topic contains following subtopics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the Export LC Advise - Islamic request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Export LC Advise - Islamic request.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of Export LC Advise - Islamic request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Export LC Advise - Islamic request.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.
  • Reject Approval
    This topic helps you quickly get acquainted with the Reject Approval process in Export LC Advise - Islamic.