Bangladesh Bank and Al-Arafah Islami Bank PLC have signed an agreement under the Tk. 3,000 crore Agricultural Refinance Scheme, established to create specialized agriculture-based economic hubs in the Rangpur and Rajshahi divisions.

The agreement was signed on 31 August 2026 at an event held at the Bangladesh Bank Head Office in Dhaka. Dr. Md. Kabir Ahmed, Deputy Governor of Bangladesh Bank, attended the event as the Chief Guest. Also present were Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, A. K. M. Saifuzzaman, Director, Agricultural Credit Department-2; and Rafiya Sultana, Additional Director.

Representing Al-Arafah Islami Bank PLC were Monirul Islam, FCS, Senior Vice President & Head of SME Business Division, and Sheikh Asadul Haque, Senior Assistant Vice President & Head of Agriculture Business Unit, SME Business Division.

Under the refinance scheme, expanding the scope of investment in the agriculture and rural sectors is expected to increase agricultural productivity, accelerate agriculture-based economic activities, strengthen food security, and create employment opportunities for the rural population.

The initiative is expected to provide farmers, agriculture-based entrepreneurs and small businesses in rural areas with greater access to financing. In particular, the scheme is expected to play an important role in expanding agriculture-based economic activities in the Rangpur and Rajshahi divisions. Stakeholders expressed optimism that the initiative will further accelerate the overall development of the country’s agriculture and rural economy.