Al-Arafah Islami Bank PLC has introduced four new shariah-compliant investment products designed specifically for cottage, micro, small, and medium enterprises (CMSMEs).
The launch aims to broaden the bank’s accessible, customer-centric service offerings while strengthening the financial capacity of smaller businesses in Bangladesh.
Mohd Rafat Ullah Khan, managing director and CEO of Al-Arafah Islami Bank, unveiled the products at the bank’s head office.
The new suite is structured to align with Islamic banking principles, providing compliant financing options for a segment of the economy that often faces limited access to formal credit.
This product expansion follows a recent strategic move by the bank to secure a refinance agreement with Bangladesh Bank under the BB Cluster Financing Scheme.
That deal, supervised by the central bank’s SME and Special Programmes Department, was intended to channel funds more effectively to small and medium enterprises.