The New Nation - Internet Edition

AB Bank Limited signed a contract with Millennium Information Solution Ltd (Millennium) for implementation of Shariah based Online Islamic Banking Solution - "Ababil" on 6th December, 2007. The objective of Ababil implementation is to manage operations of Sharia based online Islamic Banking of AB Bank for all of its Islamic Banking clients. The service will be available initially from 10 branches and eventually to all of the branches of AB Bank.

AB Bank being the first private sector bank will be pioneer in offering its Islamic Banking service through all of its branches in a few months. Ababil is one of the most proven and field tested Sharia based Islamic Banking software products in Bangladesh. The new generation Islamic Banking application of Millennium is online and fully integrated with internet, ATM and mobile banking facility.

In the contract signing ceremony, Millennium's CEO Mr. Mahmud Hossain said, "Millennium is happy to have like AB Bank Ltd. as its another partner in Islamic Shariah Based Banking Solution " He thanked AB Bank to give Millennium the opportunity to provide centralized and online solution for its Islamic Shariah based operation in parallel with their existing conventional banking solution.

Kaizar A. Chowdhury, President and Managing Director of AB Bank told that AB Bank is always ahead with technology to provide superior customer service. He expected an improved revenue contribution by its Islamic Banking wing through this centralized automation. He thanked everyone at the end of the ceremony.

The ceremony was attended by the Head of IT, EVP and many other senior officials of AB Bank. Millennium's Directors, Senior Managers and senior members of he banking team were also present in the ceremony.