Millennium Info wins Global Finance award

Millennium Information Solution Ltd (MISL), one of the leading software companies of Bangladesh has won a prestigious award from Global Finance, a US-based monthly business magazine.
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.
The magazine also holds several awards ceremonies throughout the year to recognize the winning financial institutions and companies. The largest of these ceremonies is held contemporary to the IMF and World Bank annual meetings.
"Global Finance has honoured us for our flagship product-Ababil- which provides a complete solution 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.
The MISL bagged the Global Finance award in 'Innovator in Islamic Finance, 2006' 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 recently attended Africa Banking Forum-ABF 2016 in Dakar which witnessed profound debates, moderated by leading experts in the sector, who shared rich experience and a particular vision on the opportunities and challenges related to the development of the banking sector in Africa.
With over 300 participants from 25 countries, the 8th of ABF was an ideal platform for exchanges of ideas, visibility and networking in Africa.
"The ABF participants were impressed with MISL presentation and they invited me to join the 9th edition of the forum to be held on 12 and 13 May 2017 in Dakar," Mr Mahmud said.
Meanwhile, Millennium is going to open its office in Dubai, one of the top hubs of world trade and finance activities.
"We are taking all-out preparation to open our office in Dubai within a very short time to expand our market presence in middle-east and African countries," Mr Mahmud said.
Earlier, Al-Arafah Islami Bank Ltd, a second generation private commercial bank (PCB) acquired 51 per cent shares of the 20-year old MISL.
The $ 2.0 million investment from Al-Arafah made the bank to become the equity partner of its Core Banking Solution (CBS) provider.
MISL, being one of the top ten (10) Islamic Banking Solution providers in the world (according to Gartner Inc.), made Al-Arafah Bank  its equity  partner to consolidate its position on flagship product 'Ababil' across the globe.
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