Al-Arafah Islami Bank signed a memorandum of understanding with the Bangladesh Investment Development Authority (BIDA) to support domestic and foreign investment and improve access to business services, the organisations said.
The agreement was signed at a ceremony held at the BIDA conference room.
Al-Arafah Islami Bank Managing Director and CEO Mohd Rafat Ullah Khan and BIDA Director General of Investment Promotion Jiban Krishna Saha Roy signed on behalf of their respective organisations.
The event was presided over by BIDA Executive Member Air Commodore Md Shaharul Huda.
Under the agreement, investors will be able to access services including opening bank accounts online through BIDA’s Online One Stop Service portal and setting up temporary bank accounts for foreign investors through Al-Arafah Islami Bank.
The arrangement is aimed at easing banking processes for investors and supporting efforts to attract foreign investment.
Bangladesh Bank Additional Director Md Shahinuzzaman, Al-Arafah Islami Bank Senior Executive Vice President and Head of Operations Md Towhiduzzaman Fuad, Senior Assistant Vice President Md Emdadul Haque and Assistant Vice President Ayesha Parveen were present, along with senior officials of BIDA.
The agreement will also allow BIDA customers to access Shariah-compliant banking services through the bank.
