Agrani Bank Bangladesh Starts Offering Islamic Banking Services

Agrani Bank Limited, a leading state-owned commercial bank with 935 outlets throughout Bangladesh, recently inaugurated the implementation of web-based “Ababil” Islamic Core Banking Solution developed by Millennium Information Solution Ltd. (MISL). “Ababil”, a completely centralised end-to-end Islamic Shariah based core banking solutionwith Trade Finance and Treasury modules, is integrated with the major delivery channels to run the entire operations of Agrani Bank’sHead Office and branches under its state of the art system upon successful completion.

Mr. KaziAlamgir, General Manager IT, Mr. Muhammad Ullah DGM, Islamic Banking Unit,andother officials of Agrani Bank were present on the occasion. Mr. A.K.M.Nazmuzzaman, Executive Director, Sales & Marketing and other members of the Project Implementation team represented Millennium at the kick-off meeting.

“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 been highly rated by Oracle Inc. and IBM Inc.,and has been recently awarded by Global Finance Magazine for Process Innovation in Islamic Finance in 2016 through “Ababil”.Through the adoption of this matured globally acclaimed solution,Agrani Bankwould like to attain a commendable market share in the Islamic Banking domain of the country. Currently eleven (11) banks and two (2) NBFIs are running their entire Islamic Banking operations using ‘Ababil’, said a statement.

Originally published on www.thefinancialexpress-bd.com