MOU SIGNING CEREMONY BETWEEN SALIHIN SHARIAH ADVISORY (SSA) & MILLENNIUM INFORMATION SOLUTION FZ LLC
MARKETING PARTNER FOR ISLAMIC BANKING AND FINANCE SOFTWARE
KUALA LUMPUR, December 2 2019 -- SALIHIN Shariah Advisory (SSA), a Shariah advisory firm registered with the Securities Commission Malaysia (SC) that provides advisory and consultancy works on all Shariah-based products and services regulated by SC, fintech solutions, training and education, research, development and publication. SSA is also a member firm under SALIHIN Group, an established bumiputera accounting firm, is honoured to announce the MOU signing ceremony with Millennium Information Solution FZ LLC (MISL), a company incorporated and based in Dubai Internet City, United Arab Emirates (UAE) in establishing a cooperation in the area of promoting and marketing of Shariah compliant software particularly the solutions known as ABABIL and THAQIQ for Islamic banking and finance industry.
ABABIL, the core banking system solution, incorporates the Islamic Shariah based business logic, which gained maturity with the involvement and input from world renowned Shariah Scholars, bankers and field level users since the inception of the product. The solution has been designed from the ground up strictly conforming to Accounting and Auditing Organization of Islamic Financial Institutions’ (AAOIFI) guidelines and keeping Islamic Shariah in perspective. Apart from the core banking solution, ABABIL has other sub-modules which includes Islamic trade finance solution, Islamic treasury management solution, Islamic microfinance solution, agent banking solution, offshore baking solution, SWIFT middleware, internet banking and mobile application, risk-based internal auditing system, remittance management system, finance origination system, automated clearing house, real time gross settlement system, sukuk management system and Ar-Rahnu management system. ABABIL has garnered several awards and recognition by various awarding bodies namely by Islamic Finance Forum for South Asia (IFFSA) 2017, Global Finance Magazine 2016, Gartner Inc., USA and IBM’s Bangalore Lab.
THAQIQ, the risk-based internal auditing system (RBIAS), links internal auditing to an organization’s overall risk management framework. The system allows internal audit to provide assurance to the board that risk management processes are managing risk effectively based on the risk appetite specified. RBIAS assists auditors in planning, performing, controlling, completing and administering audit work through the system and minimizes the hassle of manual work to a significant extent. The automation of work processes will reduce the Audit department cost of operations, provide extensive reporting and statistical dashboard for decision makers.
MISL also has a comprehensive Human Resource Management Solution (HRMS), known as SYLVIA. A fully web-based solution, designed and developed to achieve maximum business benefits for enterprises to run their HR operations in meeting their strategic as well as operational goals. The extremely user-friendly system has an attractive user interface supporting complete flexibility with fantastic ease of use facility.
The collaboration between SSA and MISL is aimed at providing more options for Shariah complaint IT solutions to the Islamic banking and finance industry players locally and globally. Both companies are committed to provide comprehensive solutions that are based on the Islamic principles to ensure the industry players are supported with the proper system infrastructure in developing and growing the Shariah complaint products and services to the global ummah.
SOURCE: SALIHIN SHARIAH ADVISORY; MILLENNIUM INFORMATION SOLUTION FZ LLC
Website: www.salihin.com.my / www.shariah.salihin.com.my/ https://www.mislglobal.com/
Email: firstname.lastname@example.org / email@example.com