Al-Arafah Islami Bank PLC signed a refinance agreement with Bangladesh Bank under the Cluster Financing Scheme on 28 June 2026 at Bangladesh Bank headquarters, said in a press release, marking a fresh push to expand financing for cottage, micro, small and medium enterprises under the central bank’s SME programme.
The agreement, supervised by the SME and Special Programmes Department (SMESPD) of Bangladesh Bank, was signed by SMESPD Director Naoshad Mostafa and Managing Director and CEO of Al-Arafah Islami Bank Mohd Rafat Ullah Khan, with the aim of improving access to credit for cluster-based CMSMEs and supporting broader employment generation and SME sector development.
Bangladesh Bank Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha were present at the ceremony alongside senior officials from both institutions. From Al-Arafah Islami Bank, Senior Vice President and Head of SME Business Md Monirul Islam and Senior Assistant Vice President and Head of Refinance Unit Sheikh Asadul Haque also attended.
Officials said the refinancing arrangement is expected to strengthen liquidity support for cluster-based enterprises and enhance the flow of formal financing to underserved SME segments across the country.
