Southeast Bank Limited to implement ‘Tahqiq’ Risk based Internal Audit System developed by Millennium Information Solution Limited

Southeast Bank Limited (SEBL) and Millennium Information Solution Limited (MISL) signed the Software License Agreement for implementing ‘Tahqiq’, Risk-Based Internal Audit System (RBIAS), developed by MISL. The signing ceremony took place at the historic Dilkusha Hall of Hotel Purbani International in Motijheel on Thursday, 3rd of October 2019. Mr. Mahmud Hossain, Managing Director of MISL and Mr. M. Kamal Hossain, Managing Director of SEBL represented their respective organizations as signatory bodies, with Mr. Niaz Ahmed, Chairman of MISL, chairing the whole session.

‘Tahqiq’ is a Risk-Based Internal Audit System (RBIAS) that automates the process of internal auditing making it significantly faster and more cost-effective; hence securing every penny of its clients, more effectively and efficiently. By implementing this system, SEBL will be complying with Bangladesh banks directive to meet the standards set by BASEL III. The application of Tahqiq RBIAS aims to improve the banking sector’s ability to absorb shocks arising from financial and economic stress, improve risk management and governance, and strengthen banks’ transparency and disclosures.

With over two decades of excellence, MISL has established itself as a reliable software company in the banking and finance industry at home and abroad through its commitment and dedication towards quality, innovation and customer satisfaction. This global organization specializes in developing and marketing Islamic Core Banking Solution named ‘Ababil’, Human Resource Management System named ‘Sylvia’ and Risk-Based Internal Audit System named ‘Tahqiq’ which provide a competitive advantage to its users through their innovative, need addressing, and user-friendly interfaces.

Southeast Bank Limited was established in 1995, and presently, with 56 branches throughout Bangladesh, it aims to be one of the leading banks in the country’s principal markets. This third-generation private bank provides a comprehensive array of commercial banking services to its clients.