Sonali Bank adopts 'Ababil'

Sonali Bank Limited., the largest state-owned commercial bank in Bangladesh, recently celebrated the inauguration ceremony of "Ababil" Islamic Core Banking Solution developed by Millennium Information Solution Ltd. (MISL).

Initially six branches of Sonali Bank Limited have come under "Ababil", said a statement.

"Ababil", a completely centralized end-to-end Islamic Shariah based core banking solution, is integrated with all major delivery channels to run the entire operations.

Md. Ashraful Moqbul, Chairman, Sonali Bank Limited, members of the board of directors, CEO and Managing Director, Md. Obayed Ullah Al Masud, Mahmud Hossain, Managing Director of Millennium Information Solution Ltd, were present on behalf of their respective organizations during the celebration.

High officials of Sonali Bank Limited and Millennium Information Solution Ltd were also present during the occasion.

"Ababil" has been rated by Gartner Inc., USA, as one of the top ten (10) Islamic Banking Solutions in the global arena. It has also won Islamic Finance Forum South Asia Award for two consecutive years in 2017 and 2018. It has also been highly rated by Oracle Inc. and IBM Inc.,and has been awarded by Global Finance Magazine for Process Innovation in Islamic Finance in 2016.Through the adoption of this matured globally acclaimed solution,

Sonali Bank Limited would like to attain a commendable market share in the Islamic Banking domain of the country. Currently eight banks and two NBFIs are running their entire Islamic Banking operations using "Ababil".