4:42 pm - Saturday January 17, 5378

MISL receives ‘Global Finance’ award

Millennium Information Solution Ltd (MISL), a subsidiary company of Al-Arafah Islami Bank Limited has received a prestigious award from Global Finance, a US-based monthly business magazine, at Global Finance’s Digital Bank Conference and Awards, held on October 18th at the RSA House in London.

Global Finance usually reports on the international finance sector, covering such topics as corporate finance, joint ventures and M&A, country profiles, capital markets, investor relations, currencies, banking, risk management, custody, direct investment and money management.

“Global Finance has honored us for our flagship product “Ababil”, which provides a complete 20161024_aibl_millenium_presssolution for Islamic banking. Millennium designed and developed this shariah-compliant solution with many Islamic banking clients in Bangladesh,” said Mahmud Hossain, Managing Director of MISL.

MISL bagged the Global Finance award in ‘Innovator in Islamic Finance, 2016’ category.

He said MISL has also launched a number of new applications for Islamic banking. The solutions include core Islamic banking, mobile banking applications, Internet banking, Islamic treasury activities, loan/proposal management, Islamic foreign exchange, off-shore banking, check requisition system, human resource management system and payroll, and employee performance management systems.

MISL, being one of the top ten (10) Islamic Banking Solution providers in the world (according to Gartner Inc.), made Al-Arafah Islami Bank Ltd. its equity partner to consolidate its position on flagship product ‘Ababil’ across the globe.

‘Ababil’ is currently being used by 8 banks and 2 NBFIs.

The company has more than 18 years of experience in this domain and is on the process of setting up its global office in Dubai soon.