Historically, a number of factors have frustrated the progress and global acceptance of Islamic finance that have made it difficult, inefficient and expensive for any organization to replace conventional finance with Ethical/Shariah compliant financial models. These factors include:
- Lack of understanding of Islamic finance;
- Lack of product standardization;
- Shortage of qualified and trained staff;
- Unavailability and over occupancy of Shariah scholars;
- Process and procedure complexity; and
- Distinct system requirements.
Because of these obstacles, many institutions have deemed the capital and human cost of providing Islamic financial services to be too great to justify.
ESAAC has developed a portfolio of services that allow organizations to establish Ethical/Shariah compliant operations by overcoming the impediments and inefficiencies that are currently pervasive across financial services market. ESAAC's integrated solution includes all components required to launch an Islamic Banking Institutions and other Financial Institution. In other words, ESAAC is a one-window solution to all your organizational needs.