TO AL ARAFH ISLAMI BANK LTD

AL Arafah Islami Bank PLC.

Company Type: Financial Institution (Bank). It is neither a factory nor a trader.

Company Introduction:

AL Arafah Islami Bank PLC. is a prominent Islamic commercial bank operating in Bangladesh. Established with the objective of conducting all banking activities on the principles of Islamic Shariah, the bank offers a comprehensive suite of financial products and services. Its core mission is to provide interest-free banking solutions to individuals, businesses, and corporations, contributing to the economic growth and social well-being of the nation while upholding ethical and moral values. The bank strives to be a leading player in the Islamic banking sector, ensuring transparency, fairness, and compliance with Shariah guidelines in all its operations.

Key Services and Activities:

The bank provides a broad range of Shariah-compliant banking services, including:

Retail Banking: Offering various deposit schemes, consumer financing, and locker services.

Corporate Banking: Providing working capital finance, project finance, and trade finance facilities to corporate clients.

SME Banking: Delivering specialized financial solutions to small and medium enterprises.

Foreign Exchange: Facilitating international trade and foreign currency transactions.

Remittance Services: Enabling convenient and secure transfer of funds for expatriates.

Digital Banking: Offering modern banking solutions such as internet banking, mobile banking, and ATM services.

Investment Banking: Engaging in Shariah-compliant investment activities and advisory services.

Location: Bangladesh.

AL ARAFAH ISLAMI BANK LTD offers a wide range of Shariah-compliant banking products and services. These include:

Deposit Products

Mudaraba Savings Deposit Accounts

Mudaraba Term Deposit Accounts

Mudaraba Hajj Savings Accounts

Mudaraba Monthly Savings Schemes

Mudaraba Monthly Income Schemes

Mudaraba Lakhopoti Deposit Schemes

Mudaraba Kotipoti Deposit Schemes

Mudaraba Pension Schemes

Mudaraba Double Benefit Deposit Schemes

Al-Arafah Special Savings Deposit Accounts

Current Accounts

General Savings Accounts

Non-Resident Foreign Currency Deposit Accounts

Resident Foreign Currency Deposit Accounts

Investment (Financing) Products

Murabaha financing for trade, working capital, and consumer goods

Ijara (leasing) for machinery, vehicles, and real estate

Musharaka (partnership financing)

Mudaraba (profit-sharing financing)

Bai-Muajjal (deferred payment sale)

Hire Purchase under Shirkatul Melk (HPS) for housing, commercial space, and vehicles

Salam (advance payment for future delivery of goods)

Istisna (manufacturing finance)

Small and Medium Enterprise (SME) Financing

Agricultural Financing

Industrial Financing

Consumer Financing

Housing Finance

Digital Banking Services

Internet Banking

Mobile Banking (AIBL Touch)

SMS Banking

ATM Services

Card Services

AIBL Debit Cards

AIBL Credit Cards (Shariah-compliant)

International Banking Services

Foreign Remittance Services

Export Financing

Import Financing

Correspondent Banking Services

Other Services

Locker Services

Bank Guarantees

Pay Orders

Demand Drafts

Real-Time Gross Settlement (RTGS)

Bangladesh Electronic Funds Transfer Network (BEFTN)

National Payment Switch Bangladesh (NPSB) services

Treasury Operations

Islamic Microfinance