Residual Amount configuration for Islamic financing the schedule generated for the account is not proper.
(Doc ID 2713906.1)
Last updated on SEPTEMBER 27, 2020
Applies to:Oracle FLEXCUBE Universal Banking - Version 12.0.3 and later
Information in this document applies to any platform.
As per the islamic financing user guide section 6.2.4 detail of Ijarah, we are incorporating the residual value and capturing the contract as per normal practice. but system is not populating the schedules as properly. Where in second last schedule is showing the amount in negative value, and even when we are going to liquidate the contract it will not allowing to liquidate the last schedule due to the negative value.
The issue can be reproduced at will with the following steps:
1. Book a Contract with Residual Amount and residual Amount + down-payment Option
2. The Second Last Schedule Generated is not as per the Residual Amount/Residual Amount+ down-payment
The issue has the following business impact:
Due to this issue, users cannot use the Residual Amount feature.
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