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BACK GROUND
Al-Arafah Islami Bank started its journey in 1995 with the to introduce a
modern banking system based on Al-Qur’an and Sunnah. The bank has 46
braches and 1,033 employees (as of December 2007). Its authorized capital is
Taka 2500 millions and the paid-up capital is Taka 1153.18 millions.
A group of dedicated and pious personalities entreprenuers are the architects
and directors of the bank. Noted Islamic scholar, economist, writer and
ex-bureaucrat of Bangladesh government AZM Shamsul Alam is the founder chairman
of the bank. His progressive leadership and continuous inspiration provided a
boost for the bank in getting a foothold in the financial market of
Bangladesh. A group of 13 dedicated and noted Islamic personalities of
Bangladesh are the members of Board of Directors of Al-Arafa Islami Bank
(AIBL).
AIBL believe in providing dedicated services to the clients imbued with
Islamic spirit of brotherhood, peace and fraternity. The bank is committed
towards establishing a welfare-oriented banking system to meet the needs of low
income and underprivileged class of people and upholds the Islamic values of
establishment of a justified economic system through social emancipation and
equitable distribution of wealth.
The bank has established AIBL English Medium Madrasha and AIBL Library. The
bank provides a bunch of state-of-art banking services within the wide bracket
of shariah. It has a number of unique products.
All activities of AIBL are conducted under an profit/loss based system
according to Islamic Shariah. Its investment policies under different modes are
fully Shariah compliant and well monitored by the board of Shariah Council.
During the year 2007, 70% of the investment income were distributed among the
Mudaraba depositors.
In 2008, AIBL has included online banking in its wide range of services. AIBL
regularly arranges its AGMs (Annual General Meeting). Whenever needed EGMs
(Extraordinary General Meeting) are also arranged.
In 2007, the bank declared 20% bonus dividend to our shareholders.
For
more click www.al-arafahbank.com
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