Al-Arafah Islami Bank PLC has signed a strategic partnership agreement with UCB Fintech Limited (upay), a subsidiary of United Commercial Bank PLC, to facilitate fund transfers, remittance services, and expand Shari’ah-compliant Islamic micro savings services.

The agreement was signed on Wednesday, July 8, 2026, at the Bank’s Head Office. Managing Director & CEO of the Bank Mohd. Rafat Ullah Khan and Chief Executive Officer of upay Shyamol Boran Das signed the agreement on behalf of their respective organizations.

Under the agreement, customers of Al-Arafah Islami Bank will be able to transfer funds seamlessly between the Bank’s Islamic Wallet and the upay platform. In addition, upay will serve as a remittance distribution partner of the Bank and support the expansion of its Shariah-compliant Islamic Micro Savings services. The partnership will enable customers to enjoy more convenient, secure, and Shari’ah-compliant digital financial services.

Speaking on the occasion, Mohd. Rafat Ullah Khan said that Al-Arafah Islami Bank is continuously working to deliver innovative, convenient, and Shari’ah-compliant digital financial solutions to its customers. He expressed confidence that the strategic partnership with upay would not only enhance the Bank’s digital service offerings but also contribute significantly to advancing digital financial inclusion across the country.

Among others, Deputy Managing Director of the Bank Md. Fazlur Rahman Chowdhury, Md. Aminul Islam Bhuiyan, Mohammad Hossain, S. M. Abu Jafar and Head of Corporate Sales of upay Sajjad Alam, Head of Product, Strategy & Product Mohammad Mamun Reza Khan, Deputy General Manager (Corporate Sales) Shah Arafat Hossain along with other senior officials of both organizations were present at the ceremony.