A Memorandum of Understanding (MoU) has been signed between Al-Arafah Islami Bank and Bangladesh Investment Development Authority (BIDA) to increase domestic and foreign investment and facilitate a business-friendly environment. The MoU was signed at a ceremony held at BIDA Conference Room recently.

Managing Director and CEO of the Bank Mohd. Rafat Ullah Khan and Director General of BIDA Investment Promotion Jiban Krishna Saha Roy signed the agreement on behalf of their respective organizations. The ceremony was presided over by BIDA Executive Member Air Commodore Md. Shaharul Huda.

Under this MoU, investors will be able to avail important services including opening bank accounts online on Bidar’s Online One Stop Service (OSS) portal and opening temporary bank accounts for foreign investors through Al-Arafah Islami Bank. The bank’s commitment to attracting foreign investment and ensuring easier banking services is reflected in this agreement.

Bangladesh Bank’s Additional Director Md. Shahinuzzaman, Al-Arafah Islamai Bank’s Senior Executive Vice President and Head of Operations Md. Towhiduzzaman Fuad, Senior Assistant Vice President Md. Emdadul Haque, Assistant Vice President Ayesha Parveen and senior officials of Bidar were present at the ceremony. Through this agreement, Bida’s customers will now be able to avail Shariah-compliant banking services.