Securities Commission of Malaysia (SCM)

Financial regulator implements bespoke software system to manage the Shariah compliance of securities traded on the stock exchange of Malaysia.

Web

About Client

Our client enforces regulation across the financial markets and has the ultimate responsibility of protecting the investor. Apart from discharging its regulatory functions, it is also obliged by statute to encourage and promote the development of the securities and derivatives markets in Malaysia.

SCM

The Challenge

As a part of its development function, our client undertakes Shariah compliance review for all listed companies and IPOs in Malaysia. This involves evaluating the financial information from annual audited accounts of these companies to measure revenue and profits before taxation derived from Shariah non-compliance business activities.

The process of review involved communication between customers and multiple internal departments at our client organization who were relying upon Excel sheets, documents, and email exchanges for exchanging and tracking large amounts of information. The process was error prone and cumbersome.

Web

The Solution

GoodCore helped the financial regulator by designing a bespoke system to automate and facilitate the process of Shariah Compliance Screening and improve intra-organization and customer communication.

The system offers features for companies to upload required information, for our client’s staff to perform the screening process, and allows for role-based internal workflows involving task creation, delegation, and approvals.

The software has built-in document management features, an interactive notification system for informing companies on required actions and announcements, payment gateway integration to manage the fee payment process and a reporting dashboard for department heads.

Web

The Impact

The software we developed is heavily used by the Securities Commission on an ongoing basis to classify securities issued by companies as either Shariah-compliant or Shariah non-compliant. It streamlines the entire operation around this important regulatory responsibility.

Highlights

Requirements Analysis

  • Identifying the needs, expectations and goals of our customers
  • URS and functional specification
  • Design Mockups

Design, Development & Technologies

  • Highly interactive front end using JQuery, bootstrap
  • Software architecture and design
  • MVC architecture using .net
  • Detailed Reporting

Testing & Launch

  • White box & black box testing
  • Launch on Staging & Live Environments
  • Post Launch Testing, support and enhancements

Technologies Used

SQL

microsoft

text

    Seeking digital excellence?

    Tell us your project vision and receive expert insights, practical feedback, and suitable engagement options from our leadership.

    By submitting this form, you agree to GoodCore Software Privacy Policy

    19+ years

    of experience crafting exceptional software

    6.8 years

    clients spend with us on average

    100+

    successful projects for startups and enterprises


    Check Mark
    NDA Included

    Strict adherence to confidentiality

    Check Mark
    IP rights secured

    Intellectual Property belongs to you


    Got questions?
    Want to talk to us?
    020 8781 6903
    Want to join our team?