Bank Al Jazira

Bank Al Jazira (BAJ) is a Joint Stock Company incorporated in the Kingdom of Saudi Arabia. BAJ is recognized as one of the leading and fastest growing Shari’ah-compliant financial institutions in Saudi Arabia, providing individuals, businesses and institutions with innovative financial services. The bank offers personal banking, corporate banking, private banking, investment banking, broker dealer products, and treasury services.

Business Problem

BAJ needed to update its real estate transfer processing system, which includes the generation of contracts and handling client paperwork. The bank needed an efficient system that would cover all real estate transaction stages from origination, life insurance, real estate evaluation, and contracting and payment schedules. The system also needed to show real-time data analytics for market value interpretation.

Appian Solution

Using Appian, BAJ has implemented a Real-Estate Transfer Management system that follows the Islamic framework with complete process cycles and intensive use of real-time analytics. The solution is based on the Islamic law of buying real estate (Land, Apartment or Residence) by establishing a rent mechanism with the buyer. Appian Arabic Edition has been used to develop the Islamic real estate transfer framework for the banks that utilize the Shari’ah law, and contracts are generated based on the individual transfer type. At any point in time, the transfer management system has at least 50,000 running process instances, with more than 400 users access the system on a daily basis.