Al-Arafah Islami Bank PLC, country’s one of the leading Shariah-based banks, has signed a Memorandum of Understanding with Provati Insurance PLC. The agreement will enable seamless premium collection, enhanced data security, real-time reporting, and efficient financial reconciliation across Sunlife’s operational network. This partnership sets a new benchmark in digital financial services, improving customer experience and operational efficiency.

The Bank’s Deputy Managing Director Md. Abdullah Al Mamun and Provati Insurance’s Chief Executive Officer Md. Zahedul Islam signed the agreement on behalf of their respective organizations at a ceremony held at the bank’s head office on Sunday, December 28, 2025.

Prabhati Insurance’s Additional Managing Director Shakhawat Hossain Mamun, Deputy Managing Director Mr. Newaz Mohammad Rashedul Karim and Al-Arafah Islami Bank’s Senior Assistant Vice President Md. Emdadul Haque, Bacchu Sheikh, Assistant Vice President Abu Kawsar, and Senior Principal Officer Nazmul Hossain, along with senior officials of both institutions were present at the signing ceremony.

The collaboration will ensure a more secure and effective collection management system for corporate clients through innovative banking technology.