IFIL sign agreement with MISL

Islamic Finance and Investment Ltd., a renowned Shariah based Non-Banking Islamic financial institution signed an agreement with Millennium Information Solution Ltd. at its head office Sunday, said a press release.
Under this agreement, Millennium will deploy its flagship product "Ababil", a complete end-to-end Islamic Shariah based solution to run the entire operations of IFIL under its ‘state of the art system’.
Mr. M. Rabiul Islam, Managing Director of IFIL, and Mr. Mahmud Hossain, Managing Director of Millennium Information Solution Ltd, signed the agreement on behalf of their respective organizations. High officials of IFIL, including DMD & CFO Quazi Aziz Arshad, EVP & Company Secretary Rezauddin Ahmed and high officials of both companies were also present on the occasion.
"Ababil" has been rated by Gartner Inc., USA, as one of the top ten (10) Islamic Banking Solutions in the global marketplace. It has also been highly rated by Oracle Inc. and IBM Inc. Through the adoption of this  Islamic Banking Solution, IFIL would like to attain a commendable market share in the NBFI domain of the country. Currently seven banks and one NBFI are using this system.