Al-Arafah Islami Bank PLC.[2] (Bengali: আল-আরাফাহ ইসলামী ব্যাংক পিএলসি) is an Islamic bank in Bangladesh. The Bank is controlled by S. Alam Group of Industries.[3]
Al-Arafah Islami Bank PLC is a shariah compliant bank in Bangladesh founded on 27 September 1995. A shariah council of the bank is responsible for ensuring the bank activities meet shariah requirements. The headquarters are located in Motijheel, Dhaka.[4][5]
Al-Arafah Islami Bank PLC has initiated a project entitled “Krishi O Grameen Khudra Biniog Prokolpa (Microfinance). With this project, Al-Arafah Islami Bank PLC is working for reduction of poverty, development in agricultural sectors, creation of job opportunities etc.[6]
Md Abdus Samad Sheikh was appointed managing director of the bank in 2005.[7]
Md Abdus Samad Sheikh was re-appointed managing director of the bank in 2008.[7]
In September 2010, Al-Arafah Islami Bank PLC issued shares to raise funds to meet the requirements of Basel II.[8]
A security officer of Al-Arafah Islami Bank PLC was killed in May 2015 during a bank robbery attempt in Chittagong.[9]
The Bank signed an agreement with Islamic Development Bank, based in Saudi Arabia, for investment.[10] In May 2016, Abdus Samad, vice-chairman of S. Alam Group, was elected chairman of Al-Arafah Islami Bank PLC.[11] Mohammed Abdus Salam, managing director of Mir Group, was elected vice chairman of Al-Arafah Islami Bank PLC.[11]
In May 2017, Md Enayet Ullah was elected chairman of Al-Arafah Islami Bank PLC and Salim Rahman, managing director of KDS Group, was elected vice-chairman.[1
