# Rasikh (راسخ)

> Rasikh is instalment collection and escrow reconciliation software for Dubai off-plan property developers. Every unit sold gets its own escrow account; buyer instalments are collected by direct debit e-mandate or bank transfer straight into it, matched to the buyer and unit the day they land, and tracked live from sent to received. Rasikh never holds buyer money.

Website: https://www.rasikh.me
Based in: Dubai, United Arab Emirates
Audience: CFOs, finance directors, heads of accounts, credit control and treasury teams at off-plan developers in Dubai and the UAE.

## The problem

- Off-plan sales are about three-quarters of Dubai residential transactions, and most off-plan buyers pay the developer in instalments over several years (construction-linked, 1% monthly and post-handover payment plans).
- Instalments arrive as post-dated cheques and as bank transfers with missing or wrong references, often from relatives, companies or overseas banks. Proof of payment is often a screenshot sent on WhatsApp or email.
- Finance teams deposit cheques by hand, match transfers line by line from bank statements, and rebuild each unit's balance in spreadsheets, because every buyer pays into one escrow account per project.
- The result: developers book profit as construction progresses, but cannot see, in one place and on time, how much cash has actually arrived. In short: your profit is booked, your cash isn't.

## What Rasikh does

1. Unit escrow accounts (in development): every unit sold gets its own escrow account number under the project escrow account, tied to its SPA and Oqood registration. Every payment for that unit lands there, so the bank balance always equals the sum of the unit balances and reconciliation is automatic.
2. E-mandates / direct debit (in development): the buyer signs one UAE direct debit e-mandate online instead of handing over post-dated cheques. Each instalment is collected on its due date into the unit's escrow account. Failed collections are flagged within a day with a scheduled retry.
3. Payment tracker (in development): every payment has a live status (awaiting, sent, in transit, received in escrow, matched to unit, failed). The developer is notified when a payment is sent and again when it lands. Buyers see the same status and get an automatic receipt, replacing transfer screenshots.
4. Escrow treasury view (planned): every project's escrow across every bank on one screen: balances, releases requested against construction progress, retention and a cash forecast.

Optional add-ons: a booking check before the SPA, and a rescue / follow-up desk that contacts buyers whose payments fail, in the developer's name.

## How the money moves

Buyer's bank → UAE Direct Debit System or bank transfer → the unit's escrow account at the developer's escrow bank → matched, tracked and reported by Rasikh.
- Each project keeps one legal escrow account, as Dubai's escrow law requires; unit escrow accounts are account numbers under it.
- Full instalments land in escrow. Rasikh's fees are invoiced separately and never deducted from escrow.
- Rasikh does not lend and does not charge interest. Revenue is fee-based and Shariah-compatible.

## Pricing (indicative)

- From AED 10 per instalment collected; the developer pays only when money lands in escrow.
- Pilot on one project: no fixed cost, no lock-in. Prices exclude VAT.

## Starting with Rasikh

- Free payments health check: send one project's anonymised buyer ledger and escrow bank statements under NDA; within 5 working days Rasikh shows what is unmatched, cheque-dependent or late.
- 90-day pilot on one project with the developer's existing escrow bank.

## Questions developer CFOs and accountants ask

- Do we need to change banks? No. Rasikh works with the developer's existing escrow bank.
- Does this replace our ERP? No. The ERP (Oracle, SAP, NetSuite, Salesforce, Yardi, Odoo or Excel) stays the system of record; Rasikh sends matched payment data into it.
- Is a unit escrow account a separate legal escrow account? No. It is an account number under the project escrow account, with a running balance per unit.
- What about cheques we already hold? They continue as normal; new buyers can choose an e-mandate.
- Can we see a payment before it reaches our account? For e-mandates and instant bank payments, yes, every step. For ordinary transfers, "sent" when the buyer confirms and "received" when money reaches the unit's escrow account.
- Who pays? The developer, per successful collection, invoiced monthly.

## Key pages

- Home: https://www.rasikh.me/
- Payments: https://www.rasikh.me/payments
- Dubai escrow guide: https://www.rasikh.me/dubai-escrow-guide
- Resources hub (guides for UAE off-plan developer finance teams): https://www.rasikh.me/resources
- DIFC vs Dubai mainland escrow: https://www.rasikh.me/resources/difc-vs-dubai-mainland-escrow
- Abu Dhabi off-plan escrow: https://www.rasikh.me/resources/abu-dhabi-off-plan-escrow
- Post-dated cheques vs direct debit: https://www.rasikh.me/resources/post-dated-cheques-vs-direct-debit
- Virtual accounts for escrow: https://www.rasikh.me/resources/virtual-accounts-for-escrow
- Monthly escrow reconciliation checklist: https://www.rasikh.me/resources/escrow-reconciliation-checklist
- Off-plan payment plans in the UAE: https://www.rasikh.me/resources/off-plan-payment-plans-uae
- UAE off-plan and escrow glossary: https://www.rasikh.me/resources/glossary
- For finance teams: https://www.rasikh.me/for-finance-teams
- Live demo (desktop): https://www.rasikh.me/demo
- Investors: https://www.rasikh.me/investors