Social Islami Bank Limited (SIBL) signed an agreement with Millennium Information Solution Ltd (Millennium) for implementation of "Ababil"- A true Islamic Shariah-based centralized and online banking application Thursday.

The objective of SIBL for adopting "Ababil" as its core Islamic Banking application is to provide its valued clients Islamic Shariah compliant banking service in a centralized manner with maximum delivery channel facility.

Moreover, SIBL will also have comprehensive MIS facility to help its management for quick and informed decision making process. Millennium will replace the SIBL's present distributed system "PC Bank 2000" with "Ababil" and help SIBL to migrate its existing data under this agreement.

Mr. K. M. Ashaduzzaman, Managing Director of SIBL and Mr. Mahmud Hossain, Managing Director of Millennium signed the agreement on behalf of their respective companies.