Thanks for watching Tuum in Action Episode #3: Rethinking Profit Distribution in Islamic Banking
Read the Full Transcript:
Javed: [0000:05]:
Hi everyone. Good afternoon, good evening, from wherever you’re joining. Let’s give a few seconds for participants to join. Hope everyone is doing well and looking forward to this session. We have a lot of interesting topics to cover. Also a live demo, so looking forward to it. Also looking forward to your questions because it’s going to be a combination of demo as well as live Q&A. Please feel free to raise or post your questions in the Q&A section.
I believe we can get started. Welcome everyone. Good afternoon, good evening from wherever you’re joining. I’m Javed Rafi, part of the Solution Consulting team at Tuum. Together with me I also have Moazzam. Moazzam, could you please introduce yourself?
Moazzem: [0001:04]:
Hi everyone, I’m Moazzam Hossain. I’m working as a Product Manager for the Islamic Banking at Tuum.
Javed: [0001:12]:
Thank you, Moazzam. Today we have a very interesting topic on the way we at Tuum have given a different perspective to the topic of profit distribution in Islamic banking. In today’s session it’s split into two 30 minutes, which is going to be a slides discussion plus a live demo, a live walkthrough of what Tuum has built as the profit distribution capability. Then the last 10 minutes we open up for Q&A, so that we could walk you through.
In terms of setting the context, what I would like to do is use four slides to give you a quick introduction of what Tuum is, what is the capability that we offer, and then we get into the profit distribution. [00:02:00] Without much ado, let me quickly navigate to the introduction to Tuum.
As a company, Tuum was founded in the year 2019. We are backed and trusted by a number of popular names. We are a hundred plus in size, and spread across three locations, Stalin and Estonia, London, as well as Dubai in the United Arab Emirates. In terms of our primary agenda, what we are looking at and why we exist is to enable and make banks run like tech companies. Typically if we look at the banks, the cycle or the time it takes for them to launch a new product or come up with a new idea, where the business comes up with the ideation phase and for the IT team to implement and launch it to the customer, the time taken to the market is quite large. In comparison, if you look at tech companies where the releases happen on a weekly basis, monthly basis, and that’s our primary agenda, where we are offering the essential tools, the kit that a bank or a financial institution requires that would enable them to launch products at rapid pace and make them run like tech companies.
[0003:11]:
Now in order to do so, how does Tuum as a platform function? Specifically if we look at the Islamic capability that Tuum has built, the capabilities have been built strictly following the standards, the global standards as well as Islamic and Shariah compliance is concerned. The capabilities cover Islamic deposits as well as Islamic financing or Islamic lending, where depending on the region where the bank is and depending on the jurisdictions, there are different flavors of Islamic products that are typically of interest. You may be connecting here from United Kingdom, could be from APAC or from Middle East, any of the GCC countries, there are different flavors of product. As a platform, Tuum Islamic banking covers all flavors, keeping in mind to the IOV as well as the local regulatory requirements that every country requires.
[0004:09]:
In terms of what exactly Tuum offers as a core platform, what we are, we are a backend core platform. What you see here on the screen is a high-level illustrative architecture of how a banking setup looks like, where a bank would typically have the digital channels, which would be mobile web application, KYC payments, AML, various different capabilities. What Tuum offers is the block that you see in blue, where there are four primary capabilities: the financing or the lending capability; then the deposits, which includes savings, Islamic current accounts and various flavors. That’s where profit distribution plays a very important role and we will be showing you how the capability that two offers differ in a variety of ways in comparison to what exists as of today. [00:05:00] We also offer a card management capability that enables banks and institutions to issue an offer of various different card products. Then we also have a payment rail that enables quick integration to various different international as well as domestic payments.
[0005:17]:
Along with these four modules, there are a range of supporting modules that comes as a standard. All of these capabilities are modular. What I mean by modular is depending on the use case, a bank or an institution can pick and choose which module they require, and only those modules would be deployed. That all comes down to the fact that Tuum is built with a microservices approach. We have more than 40 different microservices, each micro service catering to a specific functionality. That makes it easy for us when it comes to deploying and managing the capability, to have only those microservices deployed that is relevant to your use case.
[00:06:00] In terms of the deployment models, it could be deployed as a SaaS offering on a public cloud, it could be deployed on a private cloud, it could also be deployed on-prem. Tuum supports all the various different deployment models depending on the jurisdiction and depending on the various different use cases.
Typically if we look at the profit sharing as a topic, what I would like to ask Moazzam here, I would like to invite Moazzam to this conversation before we get into the live actual demo, is, what is profit distribution you would like? If you could explain it to someone who is new to the concept of profit distribution, what is it? What is the thought process in the market in general? How does Tuum differ in terms of the ideation of profit distribution and the key differentiation? If you could walk us through it, Moazzam.
Moazzem: [0006:53]:
Yeah, thanks Javed. Lemme just share my screen. Just a confirmation from Javed, can you see my screen?
Javed: [0007:08]:
Yes.
Moazzem: [0007:10]:
Okay, thank you. I would say that profit distribution is the heart of the Islamic banking, in a way that if it works in the smoothest way then you can say definitely ensure that your banks or your system itself as well also is working according to the Shariah and also the other jurisdiction, the regulatory requirements and others. This is the heart of the bank in a way.
Yeah, it’s a bit different from the conventional in a way because in conventional the deposit and the loan may not be that interrelated. But in Islamic because of the nature of the underlying contract, it is quite integrated in a way. If you can focus on this screen, I just tried to make a flow chart so that people can understand quite easily. In Islamic banking system, there could be different types of products with different underlying contracts, like Al-Wadia, Mudarabah savings, there could be Mudarabah fixed deposit, there could be Wakalah deposit as well.
[0008:20]:
When a customer places fund in one of their accounts under a deposit contract, they agree to a profit-sharing ratio. In profit-free fund it could be 100/0, but in Mudarabah it could be a pre-agreed like 50/50 or 60/40 in different terms. A pre-defined agreement outlines how any profit will be shared between the customer and the bank. Once the deposit is made, all the deposit funds are put into a common pool. On the bank, it could be a common pool, there could be multiple pools as well.
What the bank does with the fund from the pool, they use those funds to engage in Shariah compliant investment and financing activities, financing activities the way we are quite familiar with like the Mudarabah, the Tawarruq, Ijarah financing. These are the areas where these funds are channeled and also banks are entitled or interested to do some investment in halal securities and shares as well.
[0009:33]:
Then comes the return from different sources. The income generated from these investments flows back to the pool. While we are doing this, we will categorize the funds in three different ways. One is cost-bearing deposit, cost free deposit, and bank equity if it is involved in the whole process. Based on the different types of underlying contract, a deposit product could be cost-bearing and cost-free. A contract like Al-Wadia or card, it will be acted as a cost-free deposit. Any return from those pays on those money that was used in the pool from the cost-free deposit or the bank security full amount, will be channeled to the bank.
The main concentration will be on the cost-bearing deposit. The cost bearing deposit amount will be distributed at product level in an account level as per the pre-agreed profit-sharing distribution ratio. This is how full profit distribution works. In general, there could be some differences. Banks might introduce their different features, their different ways of handling things. But this you can consider it as a blueprint for the Islamic banks, how they do the profit distribution. There are other models as well, but this is the most prominent and widely practiced one
[00:11:00]
Now comes how we handle these things in Tuum. Tuum supports the Islamic profit sharing for deposit accounts, both natively and through integration with external core banking, other core banking system as well. In a Tuum core setup, if Tuum is the main core, whether it’s for the full Islamic or for the Islamic window, it can be enabled at the product or account level, mostly the product level. The system processes the provisional profit during the profit-sharing periods, and actual disbursement happens when the profit distribution process ends. The finance module captures the financial evens, the transaction, aggregates them at the end of day, processes and posts the entries to the general ledgers. The Islamic profit module then can see the product, account transactions, the balance data for the Islamic designated accounts, apply the configured rules. Those were configured in the product level based on the underlying contracts. Not only those profit-sharing ratios, but there are different configurations like balance method, the customer share ratio, and the fund sources as well. This is how it calculates the daily balances and the end periods profit. It generates the reports and posts the final profit shares back to the accounts, which are automatically reflected in the GL after the EOE processing.
[0012:35]:
Along with this technical know-how, we try to balance it in a way that we ensure the Shariah compliance, as Javed mentioned, we try our best to follow the AAOIFI standards. Also we kept thinking in a process that we want to market our solution as a standalone module so that it can integrate with other solutions as well. We wanted to ensure different tenants like Islamic or dual with a different tenant based as a solution. As a modern core we wanted to ensure that the module integration capabilities also play around with this module.
Javed: [0013:19]:
Thank you, Moazzam. I do have a couple of follow-up questions, and as an Islamic expert it would be interesting to hear your thoughts. Typically when we speak to conventional banks who would like to start launching or start offering Islamic products, their teams, especially the core IT team, happens to believe that they’ll have to replace their entire core banking platform. Why does such a perception exist? Is this because of lack of options in the market? Or is it because of the way things have been happening when it comes to the core banking world? How does Tuum differentiate itself? If a conventional bank comes to Tuum as of today and says, I do not have any capability around Islamic banking, how can you enable me to quickly launch Islamic products? What’s going to be our product team’s answer?
Moazzem: [0014:16]:
Yeah, it’s a very interesting point. I would just take a pause and say that while we were designing, the team that we have in Tuum, on a humble note, we have some players who have around two decades of experience over the pain points of the industry. We kept those things in our mind.
We tried to do it in such a way that, maybe I can share another slide I guess, which will help people to understand a bit more. That’s what I’m saying. Our approach was a bit different in a way that we tried to solve those issues. With Tuum’s API based profit distribution model, banks don’t need a brand-new Islamic core. While they were planning to launch or a soft launch for Islamic enabled or I’ll say Islamic banking as a window, they can use their existing CBS or the core or the Tuum or even a third-party system. It doesn’t have to be at the Tuum’s core, but it can be done with any third-party core banking solution. What they have to do is simply integrate with our profit-sharing modules through APIs and web books.
[00:15:30]
How it works, it works in a way that the existing CBS only needs some basic Islamic extension to flag products or accounts as Islamic, so that through the middleware, the CBS can sense the deposit, product creation, account creation, and the transaction even, into our profit-sharing module. Again, through the middleware, the bank’s ERP system sends the agreed end of day GL accounts as we discussed. In the process, there have been different funds that we need to consider like the balances of the financing portfolios, the income from financing, or the other incurred expenses. Those are used to calculate the shareable net income output.
[00:16:25]
Along with this, because we are claiming or saying that it’s a modern core, so definitely a multicurrency supported accounts product. It is a family need, we consider that as well here in our solution. Tuum allows daily FX rate to be uploaded. It can be automated through endpoints as well, which will sing to the profit-sharing module and used on a daily profit calculations. During profit sharing cycle, our module calculates and sends back the provisional profit on a daily basis. At the end of the cycle, the final profit calculation, deductions, the balance, are pushed back to the CBS for report and actual credit to the customer’s account. This is how we would say that a bank doesn’t have to invest on a full-fledged core. Not that they have to think of a new core; all they can do is integrate with our Islamic profit distribution modules, and they can have their soft launches. It’ll reduce the time to market and also the hazard of the implementation and definitely the cost as well.
Javed: [0017:45]:
As part of the profit distribution, you did mention the terms ‘actual’ and ‘provisional’. To give you an example, I personally do have Islamic savings accounts, and so do many of them. If we happen to break a savings deposit or a savings account let’s say in the middle of the month, 15th of the month, the current system or the current calculations that exist in the market do not give me an actual rate of return. It’s always going to be the historical calculations, and based on these calculations, whichever day I break prematurely, that’s the rate I get.
[00:18:25]
How does Tuum differentiate itself, and what value does it offer to let’s say the Shariah team within a bank? How does it make life easy for a Shariah team within a bank using the exact terms, ‘actual’ and ‘provisional’? I’m sure you’ll be showing us a demo of it, but if you could give us a highlight and then transition to the demo, that would be great.
Moazzem: [0018:47]:
No, I think I can just log into the system and we can have the discussion from there. Yeah, this is our profit distribution module, how it looks like. You can see that the active one is the current month’s balances, and these are the historical one where what I can say the profit distribution is processed already. If you can see this from the screen, for the whole month the calculation was a provisional, but for the last one is the actual one.
[00:19:30]
This is where our system takes a leap forward. Our module runs the provisional profit calculation on a daily basis. What it means is each day we occur off balance sheet profit entries, but end of the day, not the end of the day in the end of the process, so the profit-sharing period, the system runs the actual calculation. On that period of that time, it reverses all those provisional entries and it replaces with the real or the true balance sheet entries, which reflects the real profit. What’s the benefit of this? This is one of the main reasons why we do it in a way, because we know that there are a few banks, I shouldn’t say, it’s become the norm of the banks that they use the historical rate. Like the way you said, if you want to your money at the middle of a month or middle of a profit distribution period, they use the historical rate. Yeah, they can do it, but with our solution what we are adding up with them, they can use the latest provisional. It is a provisional one but it’s on a daily basis. You get to know the updated balances. It gives banks an operational advantage in a market, which increases the values. In terms of fairness as well, they can market that if you come to us, we can give you the actual rate even if you withdraw the money at the middle of the month. Yeah, this is the promise that we are trying to provide to this market
Javed: [0021:19]:
Having solved one of the key problems or challenges, the other challenge that we see banks usually ask core platforms is that as and when they expand into multiple geographies, there comes a need where they have to launch Islamic savings and deposit products in different currencies. Now, the investment or the pool could be invested for a different venture that may be generating profit in a different currency. However, my profit distribution has to be in a different currency. The question of multicurrency, currently what we see is multiple banks end up having, let’s say multiple mini core versions in different countries, so that they would be able to cater to the specific country. How does Tuum address this problem, in having multiple products of Islamic capability across multiple currencies, catering to various different countries through a single platform?
Moazzem: [0022:22]:
Yeah, it’s a real-world problem. Let me get into the system. I think I will just give some here tidbits about our solution and also I’ll catch up here on this question. If we click this, this is the overall process of a single day. It could be the final or with an actual profit distribution process day, or it could be a traditional bond, but it acts in the same way in the system in terms of how it looks like. We would love to consider this as a dashboard. Why are we saying that? It helps the bank management to monitor the performance of the bank on a daily basis. They don’t have to ask anyone or generate any report, they can just sneak into the system and they can see the condition of the bank on a daily basis. It’s not only someone, but they can get into some granular data, even the balances and what I can say the minimum or the meaningful details even from a customer’s particular account as well.
[0023:31]:
Coming back to your questions, we have multiple, as a tabs. This is the funds that we are discussing, the profit distribution process, the segregation between the profit-bearing and the profit-free fund. Here you get to see the different types of profit balances. These are the profit bearing, mostly Mudarabah and Wakalah. If I click into this, I can see the different products that could be set up in the system. Like this product, you can see that we have two different balances. This suggests that we are providing the solution that the banks can open up for multicurrency supported products or accounts. But for the calculation perspective, we are considering transferring the balance into this currency.
[0024:35]
All product calculations are considered in the reporting currency level, which ensures clean financial reporting. Tuum allows to upload the FX rate on daily basis. It could be manually; it could be automated through endpoints as well. All FX transactions used in the profit-sharing calculation are using up to date rates. It’s nothing like a historical rate or something, it’s updated on a daily basis. Not only this, these are the fund balances. If I can show it to you from even account level, then you get to see, let me get into this account. This account is an USD account. This amount is the posted amount. This is the account profit. This is done in the reporting currency and this is on the balance currency or the outset account currency. You get to see that this is the final USD amount that he gets in his account. But for the calculation perspective, we done it in the local or the reporting currency. Not only that, you can see the formulas, you can see the rate as well, the updated rates. That’s what I’m saying, that this is a handy dashboard for the management. They can see the granular view of different accounts as well.
Javed: [0026:05]:
Thank you. Thank you, Moazzam. I did see crowdfunding when you were scrolling this particular screen. That leads me to the next question. If we look at beyond banks, of course banks would require Islamic deposits as well as Islamic financing capabilities. Now we see a lot of FinTechs; it could be in the form of crowd financing, peer-to-peer lending; we see stakes in property, which is picking up as an interesting use case; SME financing, microfinancing from an Islamic perspective, be it Mudarabah, Tawarruq, as well as Islamic savings FinTechs that are coming up. How does Tuum address or offer products that are fine-tuned to the needs of FinTechs who do not require an extensive set of capabilities like what bank do, but what they need is a niche set of configuration-based setup which enables them to get the required licenses, build a mobile application, connect via APIs and quickly launch? How does Tune enable the requirements of FinTech?
Moazzem: [0027:13]:
Okay, let me share another slide that can whole queue to get an idea of it. This is pretty much, as we say that Tuum’s profit distribution module is the APFI. It means that any FinTech, ERP or even non-banking financial, even there are some crypto-based platforms as well looking for such a solution as well; they can send the balances via API and our engine will calculate and return the distributed profit. We explain it, it’s the similar way we are handling with the different cores, how we are integrated with the different third-party cores. This is how we can handle with different other platforms, other small institution as well. It gives them the access to Islamic finance infrastructure for these smaller institutions to launch compliance, savings or investment products without needing a full banking core. I think it’s a step towards making sure you’re compliant, findable, scalable and inclusive also.
Javed: [0028:29]:
Thank you, Moazzam. We do see that there are different complex problems that currently exist, and we also discussed how Tuum addresses these problems by offering a very comprehensive solution. What would be your closing message or closing comments to Islamic banking enthusiasts? We do have participants coming from different geographies, playing different roles in the world of Islamic banking. What would be your closing message?
Moazzem: [0029:03]:
I would just say that, previously what we were designing, because as I said we have been here in the industry for decades now, it’s not only about Shariah compliance. It should be transparent, it should be auditable, and inclusive as well. By leveraging this modern core, the modular design and daily visibility, we can rebuild trust in how Islamic finisher institution can share profits, not just with the customer but with the entire ecosystem, so that we can get different new ventures like the crypto platforms and others.
Javed: [0029:43]:
Thank you, Moazzam. I believe we are right on time. We managed to complete the discussion of different challenges and also give a glimpse of how the profit distribution capability looks like in the Tuum user interface. We do have the API, so that ensures the automation, so an Islamic banking team may not be performing manual tasks. But now it’s time to move to the Q&A. We have a couple of questions. Let’s go with the first one, from Kamran. The question is, what about the loss distribution? How is profit distribution? Yes, you did explain and showed it. What about the loss distribution?
Moazzem: [0030:27]:
I think I can see the question again. The deposit similar from the PS is clear, but what about in front lock? No, it doesn’t distribute in the same way for Mudarabah. Because in Mudarabah contract its bank is acting as the Mudarib, and the customer is acting as the rab-al-maal, who is the provider of the fund and he’s the manager of the fund. Here by the Shariah compliant structure, the full loss in terms of capital is borne by the customer, and the bank’s loss would be his effort on this whole process. This is the underlying contract. If anyone goes to the Musharakah, then it’ll be as per the contribution of the funding between the customer and the bank.
Javed: [0031:26]:
As an add on to this question, I also do see banks use their reserved funds in a way not to transfer the entire loss to the customers, but instead use the reservation. Is that more of a common approach that you see? Or do you see banks right away handing over or passing on the losses to the customers?
Moazzem: [0031:49]:
The reality is that most of the bank, there’s a reserve fund, and they took the concern from the customers as well. The customers give the concern that, yes, you can take a portion of my, what I can say the profit, and you can use it in future if there is a loss for that particular. I shouldn’t say it’s a loss, but not the way it’s supposed to be as per the expectation as well. Again, if you have a healthy balance in the reserve, in terms of losses definitely it can cover quite a bit of it.
Javed: [0032:25]:
Interesting. Moving on to the next question, does the daily calculation have any impact on the system performance, like day end processes?
Moazzem: [0032:37]:
Not at all. Our profit distribution model operates independently from the bank’s business module. It is optimized, especially for the high-volume computational tasks like the daily accruals and reversals, ensuring that there is no impact on the bank’s operational day end processes or the customer facing activities. The answer is no.
Javed: [0032:59]:
Thank you. I guess the next question is a follow up to the point that we discussed, where products could be multicurrency; how does Tuum handle it? As a link to the question, do you currently upload daily FX rates? Is it manual or is it automated?
Moazzem: [0033:19]:
Tuum’s model supports the full automation. Bank can push daily FX rates through a dedicated API endpoint, avoiding manual and uploads as well.
Javed: [0033:30]:
The next one, how often do provisional profits need to be reversed in your current system?
Moazzem: [0033:40]:
Yeah, we do on a daily basis. For the daily basis we do the reversal, but for the actual one we only do it at the end of the profit period. If it is like a monthly profit period, then end of a month we will reverse to the actual balances. All off balance sheet balances will be transferred to the main balance sheet.
Javed: [0034:06]:
Interesting. The next question is from Mohamed Ziad. Thank you, Mohamed. The question is, is there an asset transfer module to enable transfer of assets between pools? Can the system handle partial asset transfer? Two questions here.
Moazzem: [0034:23]:
Interesting one, if you can elaborate a little bit more about what you mean by asset transfer? Because in the deposit module, the way the pool is designed is a similar goal. There is a type of Mudarabah, which is a restricted Mudarabah, if any banks want to launch a product, like we want to introduce a product where our customer if they give the money in that particular product, they can enjoy the return from the glass industry or the iron industry. If they want to do it in such a way, then we can make a separate pool for them, so that the funds for that particular deposit will be channeled to this particular financing industries as well. This is how this pool is working. This is how different pools are working. I’m not sure what you mean by that.
Javed: [0035:22]:
There is a clarification from Mohamed. In multiple pools scenario, assets are transferred between pools on the asset side. What I understand is there is pool A and pool B, let’s say each has a million-dollar fund. If I would like to move a quarter million from pool A to pool B, that’s my understanding here.
Moazzem: [0035:44]:
The way we explained, the pool is for this particular need so that you can give your customer to enjoy a return from a particular sector or something. This is the reason. What they do is if they do have a particular one, then definitely they will enjoy that one. If there is an ideal money, like in a way that I have money, but I can say that generate to the financing account, then definitely you can generate to the common pool as well.
Javed: [0036:19]:
The answer to your question, Mohamed, is yes. You would be able to do the transfer of assets across pools. Thank you for that. A question from Winot, does profit sharing deduct the processing charges? What happens to the charges at the time of loss?
Moazzem: [0036:42]:
Those deductions are configurable. It’s on the bank’s need or bank’s policy. From our system perspective, we will give you the tools so that you can add on any other deduction areas if you want. Then you can do it if you don’t want. It’s nothing like we are restricting you to put any charges or not.
Javed: [0037:04]:
This is a configuration capability.
Moazzem: [0037:07]:
Yeah, it’s based on the configuration.
Javed: [0037:08]:
Right. Be it the profit-sharing percentage or be it the different types of fees or charges associated with a particular pool, it all can be configured. Thank you, Winot, for the question. The next question, if I have an existing conventional CVS and want to take the first steps, this was the first challenge that we discussed, we want to take the first steps towards Islamic banking by adopting your profit-sharing module, what are the minimum steps we need to take?
Moazzem: [0037:40]:
We tried to cover it up, but we are considering situation that after this fantastic webinar someone come to us and says, “Hey, look, man, we are interested now we want to launch it within six months, an Islamic window.” Yeah, it could be like definitely we help the industry in a way that they can plan phase by phase implementation. In a very minimum way what they can do is they can configure at least one Islamic product and define its profit-sharing rules in the profit-sharing module. Then they can post the newly created account link to those accounts from their existing core. Then they can post all the transaction related to those accounts. Again, either individual or batches; so it could be batches and also individually. Then they have to post the end of day balances of relevant GLs, because there are some balances which will be used from the different GLs as well. Then they have to set up webhooks to receive the result from the module, like from our API or our module, including daily provisional profit per account, the actual profit at the end of the profit-sharing period, and also the bank’s profit share and their income deductions. This allows the conventional bank to start Islamic bank operation very quickly.
Javed: [0039:12]:
It also solves the main pain point where they do not have to think of replacing or doing some heavy customization to the existing core. The existing core can run as it is, managing the day-to-day life cycle of the conventional products, where Tuum’s microservices can focus on the Islamic flavors.
Moazzem: [0039:34]:
It won’t hurt their pockets as well.
Javed: [0039:37]:
That’s right. We would leave it to the key decision makers, the CFO, to have that opinion. But I believe we are right on time, if I do not see any more questions. I’m also happy that we managed to answer all the questions that were raised today.
Thank you, Moazzam. Let’s definitely plan a follow-up session where we give another interesting demo in Islamic banking; we could pick up a product. All the participants, any questions you may have, please feel free to reach out, be it in the form of demos, or if you have a set of questions that you want us to answer before you would like to know more about Tuum capabilities, please feel free to reach out to us. Looking forward to catching up with you on a different topic on Islamic banking. Thank you. Thank you, everyone. Thank you, Moazzem.
Moazzem: [0040:30]:
Thank you. Thank you, everyone.
Get in touch to find out more.