CHAKAVAK Cheque Mgmt.

In CHAKAVAK system, the cheque’s front, back and data information are sent to the cheque management system in debtor Bank and then transmitted to the issuer bank; if approved, withdrawal is carried out directly and its information is sent to settle in mutually beneficial system of cheque. When cheque processing information is done, the bank’s debit/credits documents are sent to the SATENA system for interbank settlement.

IDCORP CHAKAVAK system provide the possibility for the banks to manage the related processes of receiving/sending cheque from/to CHAKAVAK system by connecting to management system and monitoring Central Bank cheque.

CHAKAVAK System Highlights

• Send text messages in XML format and based on Central Bank standards
• Full compliance with the Islamic Banking requirements and guidelines
• Full coverage all type of cheque - normal and encrypt one
• Ability to define the description of dynamic
• Ability to define different levels to verify checks
• Ability to search all cheque activities
• Ability to select the list of return back errors
• Ability to search for cheques at any branch and generate various reports at the branch and center