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Double Or More Amount of Zakat Getting Deducted (Doc ID 2768051.1)

Last updated on APRIL 13, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.0.3 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
System deducted Zakat on 5% rate across all Islamic branches, in logs we observed that SDE values are set correctly for both balance and Zakat rate, but Zakat amount that system printed in debugs and posted is 5% of accounts balance.

EXPECTED BEHAVIOR
-----------------------
Zakat should be deducted at 2.5% rate

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Run EOD on Zakat deduction day.
2. Verify Zakat amount deducted.


BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, double amount of Zakat is deducted which is against regulation.

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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