Millennium expands to Africa with “Ababil”.

As part of its globalization efforts, Millennium Information Solution Ltd. a renowned Core Islamic Banking Solution provider, recently signed a Value Added Partnership Agreement with ITech Solutions in Dakar, Senegal. Under the agreement, ITech will make use of its presence in the West Africa region to promote Ababil. Mr. Moussa Dia, Executive Director of ITech Solutions, and Mahmud Hossain, Managing Director of Millennium, signed the agreement on behalf of their respective organizations. ITech Solutions is a Senegalese corporation specializing in IT solutions, systems integration, training and management consultancy, with operating offices in Senegal, Guinea and Burkina Faso.

Millennium also signed a Partnership Agreement with Keywords Technologies Limited. Under the agreement, Keywords Technologies will provide marketing efforts to promote Ababil in the Africa region. The organization is a provider of Information Technologies and services for banks and financial sector in West and Central Africa. A leader in IT innovation for development, it aims to assist its valued clients in optimizing their organization, processes and information system by implementing innovative solutions adapted to the ever-changing environment. Africa region represents a very dynamic and a given platform for Islamic Bank Tools. Senegal, as a hub and leadership country, was awarded last year in Dubai, for Islamic financial solutions.

During the expansion efforts in Africa, Millennium also held a meeting with Islamic Development Bank (IDB) at Dakar, Senegal. Musa Sillah Ex-Minister of Gambia and present Regional Director of IDB West Africa, held a fruitful discussion with Mahmud Hossain at the Bank’s Dakar Regional Office premises to discuss Millennium's future plan regarding positioning strategy of Ababil in the African region. During the meeting, Mr. Sillah expressed his appreciation of Millennium’s efforts to help the growth of Islamic Banking sector in West Africa making its products and service offering available for the growing region. He also conveyed his assurance for cooperation to this endeavor to augment the growth of the Islamic Banking and Finance market in Africa.

Ababil is a complete end-to-end Islamic Shariah based core banking solution with Trade Finance and Treasury modules, integrated with the major delivery channels to run the entire operations of a Bank under its state of the art system.

Millennium aims to establish Ababil as a Shariah compliant and robust solution in the Africa region as part of its efforts to expand to global markets. “Ababil” has been rated by Gartner Inc., USA, as one of the top ten (10) Islamic Banking Solutions in the global arena. It has also been highly rated by Oracle Inc. and IBM Inc.