Al-Arafah Islami Bank PLC has launched four Shariah-compliant investment products aimed at expanding modern, accessible and customer-focused financing while strengthening the financial capacity of cottage, micro, small and medium enterprises.
Managing Director and Chief Executive Officer Mohd Rafat Ullah Khan formally inaugurated Nisa, Tijara, Al-Awana and Al-Tawfiq as chief guest at a ceremony at the bank’s head office, the lender said in a press release.
Nisa and Tijara will provide collateral-free Shariah-compliant investment facilities, while Al-Awana and Al-Tawfiq will offer financing against collateral.
The products are designed to meet entrepreneurs’ financing requirements, helping them expand their businesses, increase production and generate employment.
Rafat Ullah Khan said CMSME entrepreneurs were among the key driving forces of the country’s economy. Al-Arafah Islami Bank has continued to introduce innovative Shariah-compliant financial solutions tailored to entrepreneurs’ evolving needs, he added.
He expressed confidence that the four products would make financing more accessible and support sustainable business growth across the CMSME sector.
Khan also encouraged cottage, micro, small and medium entrepreneurs across the country to use the new investment products to expand their businesses and create more employment opportunities.
Deputy Managing Directors Md Fazlur Rahman Chowdhury, Mohammed Hossain, S M Abu Jafar and Syed Abul Hashem, FCA, FCMA, attended the ceremony alongside senior executives, heads of various divisions at the corporate head office and managers of corporate branches.
Branch managers from across the country joined the programme virtually.
