My Oracle Support Banner

PREVIOUS RATES UPDATION on ISLAMIC TD REDEMPTION CAUSING PROFIT REVERSAL (Doc ID 2785026.1)

Last updated on JUNE 18, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.4.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------

On Islamic TD redemption system has to apply the broken TD rate on all previous periods. Bank has reported issue that only the very first profit rate (MUDARABAH_RATE) has been changed with an incorrect broken rate i.e with the latest period broken rate. Due to this reason system has posted the wrong profit adjustment entry.

EXPECTED BEHAVIOR
-----------------------
On redemption system should update profit rate on all previous periods with the broken rate defined for that specific period.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Perform Islamic TD redemption and check the profit adjustment entries posted due to old rate changed.

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, system has reversed customer profit.

Cause

To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!


In this Document
Symptoms
Cause
Solution
References


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.