Social Islamic Bank Limited (SIBL) signed an agreement with Millennium Information Solution Ltd (Millennium) for implementation of  “Ababil”- A true Islamic Shariah based centralized and online banking application on September 19, 2009. The objective of SIBL for adopting “Ababil” as its core Islamic Banking application is to provide its valued clients Islamic Shariah compliant banking service in a centralized manner with maximum delivery channel facility. Moreover, SIBL will also have comprehensive MIS facility to help its management for quick and informed decision making process. Millennium will replace the SIBL’s present distributed system “PC Bank 2000” with “Ababil” and help SIBL to migrate its existing data under this agreement.

Mr. Mahmud Hossain, Managing Director of Millennium said “Ababil, the flagship product of Millennium, is the first locally developed “Centralized Banking” application in Bangladesh which is in use by three renowned banks and one non-banking financial institution in the country. The product was appraised and appreciated by several global Islamic Shariah scholars.”

Mr. K. M. Ashaduzzaman, Managing Director of SIBL and Mr. Mahmud Hossain, Managing Director of Millennium signed the agreement on behalf of their respective organizations. The signing ceremony was attended by SIBL’s Additional Managing Director Mr. Abu Sadek Md. Sohel, Deputy Managing Director Mr.  Md.  Abul Shahjahan  and other senior executives. It was also attended by Millennium’s director Mr. Fokhruz Zaman, Mr. Saiful Alam and other senior members.