Union Bank Ltd signs Agreement with Millennium Information Solution Ltd (Millennium) for Core Islamic Banking Solution.

Mr. Mahmud Hossain, Managing Director of Millennium Information Solution Limited (Millennium) and Mr. Md. Abdul Hamid Miah, Managing Director of Union Bank Ltd shake hands after signing an agreement. (From left) Mr. S.A.M Salimullah, SEVP of Union Bank, Mr. Syed Abdullah Mohammed Saleh, DMD of Union Bank and other officials of Millennium and Union Bank Ltd were also present in that signing ceremony.

Union Bank Ltd., the only Shariah based bank out of all recently approved new banks in the country, signed an agreement with Millennium Information Solution Ltd (Millennium) recently 18^th May 2013. Under this agreement, Millennium will deploy its flagship product “Ababil”, a complete end-to-end Islamic Shariah based core banking solution with Trade Finance, Treasury Modules, and integration with the major delivery channels to run the entire operations of Union Bank Ltd in a totally integrated as well as under a state of art system.

“Ababil” has been rated highly by Gartnet Inc., USA as one of the top ten (10) Islamic Banking Solutions in global perspective. It was also highly rated by Oracle Inc. and IBM Inc. Through the adoption of this matured globally acclaimed Islamic Banking Solution. Union Bank Ltd would like to attain a commendable market share in the Islamic Banking space of the country within shortest time frame. Currently six (6) banks and one (1) NBFI are running their entire Islamic Banking operations using “Ababil”.

Mr. Md. Abdul Hamid Miah, Managing Director of Union Bank Ltd and Mr. Mahmud Hossain, Managing Director of Millennium Information Solution Ltd, signed the agreement on behalf of their respective organizations. The ceremony was also attended by high officials of Union Bank Ltd including Deputy Managing Director (DMD), Mr. Syed Abdullah Mohammed Saleh, SEVP Mr. S.A.M Salimullah and high officials of Millennium Information Solution Ltd.

After the signing ceremony, Doa (prayer) was held for rapid development of the bank with Islamic Banking services to the nation and also for Millennium to extend its services in home and abroad.