Risk-based internal auditing system at AIBL

Al-Arafah Islami Bank Ltd (AIBL), one of the leading Islamic banks in Bangladesh has successfully implemented ‘Ababil RBIAS: Risk-Based Internal Auditing System’. Managing Director of the Bank Md. Habibur Rahman inaugurated the new launching ceremony as Chief Guest. Director Alhajj Abdul Malek Molla was present as special guest. Among others, Deputy Managing Directors of the Bank Kazi Towhidul Alam, Md. Fazlul Karim, Muhammad 20180101-AIBL Millenium PressMahmoodul Haque, S. M. Jaffar, Zubair Wafa, Principal of AIB Training and Reaserch Institute Md. Nurul Islam Khalifa, Managing Director and CEO of Millenium Information Solution Ltd. Mahmud Hossain, Director Fokhruz Zaman and Executive Director AKM Nazmuzzaman were also present in the occasion.

The new Ababil RBIAS is a pioneering software solution for Financial Institutions which was designed and developed by Millennium Information Solution Ltd. Ababil RBIAS works as a tool to help the banks evaluate branch and banks’ position through Risk Grading by collecting and processing business risk data from CBS, Control Risk data based on audit observation and Core Risk element data defined by Central Bank. It also assists auditors in scheduling, planning, executing, reviewing and reporting in a paperless manner. With the help of RBIAS, audit departments of all sizes will now be able to spend more time providing value-added services and less time in documenting and reviewing.