g


side,’ remarked Hossain. In January 2017, Islamic Finance and Investment


Ltd


implemented the NBFI version of “Ababil”, developed by MISL. A centralized end-to-end Islamic Shariah based solution, Ababil will run the entire operations of IFIL’s Head Office and 6 branches.Another deal was announced in April 2017 when


the vendor completed the implementation of Ababil - Islamic internet banking system at Dhaka Bank in Bangladesh. Millenium has been looking to expand into Africa where it signed a raft of agreements for promotion of Ababil with ITech solutions in Senegal and Keywords Technologies for West and Central Africa.


Islamic banking functionality supported


Wadiah current deposit account; Mudarabah savings deposit account; Mudarabah short notice deposit account; Mudarabah foreign currency deposit account; Mudarabah term deposit receipt; Mudarabah special savings (pension) account; Mudarabah monthly Hajj savings account; Mudarabah one time Hajj savings account; Mudarabah savings bond scheme; Mudarabah monthly profit deposit scheme; Mudarabah Muhor savings deposit scheme; Murabaha (general); Murabaha (post-import); Bai Muazzal; hire-purchase Shirkatul mielk; Musharakah (general); Musharakah (pre-shipment); Qard against TDR; Qard Hasan (PF); Qard Hasan (BF); Ijara; Qard Hasan (general); Murabaha import/WES bills; Baim WES bills; Murabaha WES L/C; Ujrat Bil Wakala; import L/C opening; import L/C transaction; import document lodgment; import bill transaction; export L/C advising; export issue/ maintenance; maintenance; export bills; export bills transaction; export performance register; nostro account transaction; inward remittance voucher (IRV); inward foreign bills for collections (IFBC); outward remittance voucher (ORV); outward foreign bills for collection (OFBC); remittance transactions; auto voucher control; complete L/C lifecycle; foreign currency management and projection; nostro account reconciliation.


Number of known Islamic users for Ababil: 8


Islamic Report www.ibsintelligence.com


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