A1 ARAFAH ISLAMI BANK LIMITED

A1 ARAFAH ISLAMI BANK LIMITED

Company Introduction:

Arafah Islami Bank Limited (AIBL) is a prominent private commercial bank in Bangladesh. Established in 1995, it operates under Shariah principles, offering a comprehensive range of Islamic banking products and services to its customers. The bank provides various financial solutions including deposit accounts, financing (Murabaha, Mudaraba, Musharaka, etc.), foreign exchange, remittances, and ATM services. AIBL aims to contribute to the socio-economic development of Bangladesh by providing ethical and interest-free banking services, adhering strictly to Islamic Shariah law. It has a widespread network of branches and sub-branches across the country, serving individuals, small and medium enterprises (SMEs), and corporate clients.

Company Type:

Arafah Islami Bank Limited is a financial institution. It is neither a factory nor a trading company.

Al-Arafah Islami Bank Limited offers a wide range of Shariah-compliant products and services. These include:

Deposit Products:

Mudarabah Savings Deposit Account

Mudarabah Term Deposit Account

Mudarabah Special Savings Deposit Account

Mudarabah Special Notice Deposit Account

Mudarabah Hajj Savings Account

Mudarabah Monthly Savings Scheme

Mudarabah Millionaire Savings Scheme

Mudarabah Kotipati Savings Scheme

Mudarabah Double Benefit Scheme

Mudarabah Triple Benefit Scheme

Mudarabah Education Savings Scheme

Mudarabah Marriage Savings Scheme

Mudarabah Family Savings Scheme

Mudarabah Pension Savings Scheme

Mudarabah Lakhopati Savings Scheme

Mudarabah Probashi Savings Scheme

Al-Wadiah Current Account

Al-Wadiah Savings Account

Special Al-Wadiah Current Account

Foreign Currency Account

Non-Resident Foreign Currency Deposit Account

Resident Foreign Currency Deposit Account

Investment and Financing Products:

Murabaha (cost-plus sale)

Ijarah (leasing)

Musharakah (partnership)

Mudarabah (profit-sharing)

Bai-Salam (advance payment for future delivery)

Bai-Istisna (manufacturing finance)

Hire Purchase under Shirkatul Melk

Quard (interest-free loan)

SME Investment

Retail Investment (e.g., housing, car, consumer durables)

Agricultural Investment

Industrial Investment

Working Capital Investment

Trade Investment (Import, Export)

Other Services:

Internet Banking

SMS Banking

ATM Service (AIBL Fast Cash)

POS Terminal Service

E-Commerce Service

Debit Cards (Visa, Mastercard)

Credit Cards (Visa, Mastercard)

Prepaid Cards (Visa)

Remittance Services (through various partners like Western Union, Xpress Money)

Locker Service

Utility Bill Collection

BILLS Service

E-Passport Fee Collection

Treasury Bond/Bill Trading

Shariah Compliant Share Trading

Bank Guarantee

Letter of Credit

Foreign Exchange Services

Online Banking (across their branch network)

Mobile Banking (AIBL Touch)

Agent Banking