WHY MIZANCORE
Shariah-first,
from the ledger up.
Every other core banking platform was built for interest-based banking and adapted for Islamic products. MizanCore starts with AAOIFI accounting, CBN NIFI compliance, and Shariah governance as primary requirements — not add-ons.
The conventional core approach
- Murabaha is a loan with a "markup" field — GL posts to "interest income"
- Mudarabah pool is a fixed deposit account renamed "profit-sharing"
- Shariah compliance team works around the software, not with it
- ACE approval is a paper process appended to a digital workflow
- CBN NIFI returns require manual extraction and reformatting
- EOD close takes 2–3 hours because GL logic wasn't designed for profit-loss sharing
- Migration leaves ghost data in ledger accounts labelled "interest receivable"
The MizanCore approach
- Murabaha has its own cost price, markup, deferred income GL logic per AAOIFI FAS 2
- Mudarabah pool: actual profit-and-loss distribution engine, Rabb al-mal & Mudarib tracked
- ACE and Shariah team are first-class users with their own approval workflows
- Fatwa repository: every product linked to its Shariah ruling, reviewable in audit
- 12 CBN returns generated directly from the GL — no manual export
- EOD close under 10 minutes because the core was engineered for it
- Migration toolkit maps legacy accounts to AAOIFI chart — clean ledger from day one
THE FOUNDATION
Six things that are different by design.
AAOIFI accounting from the ground up
The chart of accounts, GL posting rules, and financial statements are structured per AAOIFI FAS standards — not retrofitted from a conventional IFRS baseline. Your balance sheet and income statement use the right account categories from day one.
CBN-native reporting
Every CBN prudential return — MFB01 through MFB12 — is generated directly from live GL data. No manual spreadsheet export, no end-of-quarter scramble. The regulatory operations team can pull returns at any point in the month.
The ACE is a platform user
The Advisory Committee of Experts (ACE) has a dedicated portal — not just an email notification. Financing products require ACE approval before they can be activated. The Fatwa repository is versioned, searchable, and linked to every product it governs.
Four-eyes principle, system-enforced
No single user can initiate and approve a critical transaction. Disbursements, GL adjustments, customer tier upgrades, NIP transfers above threshold — all require a second authorised user to release. This is not configurable as optional.
Designed for the Nigerian operating environment
Naira-native, BVN/NIN identity verification, NIBSS NIP real-time transfers, NDIC reporting, and AML/CFT transaction screening — all built in. Not "can be integrated". Built in. The platform knows it is operating in Nigeria.
A real migration path
If you are running BankOne, Udara360, or a bespoke Access database, we have a structured migration programme: data mapping, parallel run period (your existing system stays live), staff training, and a defined go-live gate. No cold cut-over.
BUILT FOR EVERY ROLE
Not just IT. Every team member has a real job in MizanCore.
CEO / MD
Executive dashboard with portfolio KPIs, PAR trending, Mudarabah pool return, and regulatory posture — at a glance, not after an IT request.
ACE / Shariah Committee
Product approval workflow, Fatwa repository management, Shariah compliance reports. The committee has a portal, not an email inbox.
Operations Manager
Teller sessions, end-of-day batch, inter-branch reconciliation, agent network oversight, and NIP reconciliation from one workspace.
Financing Officer
Originate Murabaha, Mudarabah, or Musharakah facilities with built-in eligibility checks, repayment schedule generation, and ACE approval routing.
Compliance Officer
AML/CFT monitoring dashboard, suspicious transaction flagging, CBN return generation, NFIU filing, and the immutable audit log.
Finance / CFO
Real-time GL, trial balance, profit pool distribution, AAOIFI-compliant income statement and balance sheet. EOD close under 10 minutes.