Millennium and ISRA Consulting Signs Agreement for Shariah Review of Ababil Islamic CBS

Millennium Information Solution Limited (MISL) and ISRA International Consulting Sdn Bhd (ISRA Consulting) signed an agreement on November 28, 2019 for ISRA Consulting to undertake review of Millennium’s Ababil Islamic Core Banking Solution on Shariah compliance.

MISL is a Global Software solution provider with over two decades of experience in designing, developing, deploying and marketing software suites for enhancing business process and efficiency.

ISRA Consulting was established by the International Shari’ah Research Academy for Islamic Finance (ISRA) to offer extensive and comprehensive consultancy services in advisory, research, training and translation in the areas of Islamic finance and Shari’ah. ISRA Consulting is manned by renowned international and local Shari’ah experts and supported by a team of experienced senior researchers and exemplified professionals. ISRA Consulting has been voted as the best Shariah Consultancy Firm in the 2019 Islamic Finance News (IFN) Award.

Ababil of Millennium is a powerful core banking system specifically built from the ground up to support Shari’ah banking operations. It is truly geared to address region-specific Islamic banking requirements. Unlike other core banking systems, Ababil is built from scratch around Shari’ah guidelines and standards and is determined to be concordant with the Islamic finance directives.

Shari’ah review and endorsement of Ababil system by ISRA Consulting will assure that MISL’s end to end Banking Solution Ababil are able to meet Shari’ah standards. This will further establish its corporate image among both the local and international communities of the Islamic finance industry.

On the signing ceremony, from Millennium Information Solution Limited, Mahmud Hossain, CEO & Managing Director and from ISRA Consulting, Prof. Dr. Ashraf Md. Hashim, CEO, Dr. Muhammad Syahmi Mohd Karim, Senior Consultant, Dr. Sa'id Adekunle Mikail, Researcher, Dr. Tuan Badrul Hisyam Tuan Soh, Consultant, Mezbah Uddin Ahmed, Researcher, Nur Shaira Mohd Yusoff, Executive were present.