The Daily Star (TDS): Could you provide an overview of the current savings situation at your bank?
Md. Rafat Ullah Khan (MRUK): Al-Arafah Islami Bank has established a strong reputation for consistently mobilising deposits across a wide range of customer segments, reflecting not only financial strength but also deep-rooted public trust. This trust has been built over three decades through unwavering integrity, sound governance, inclusive services, and strict adherence to Shariah principles.
For all latest news, follow The Daily Star’s Google News channel. With the country’s most extensive banking network—226 branches, 87 sub-branches, 244 ATMs, 7 CRMs, and over 750 agent banking outlets—complemented by strong mobile banking penetration, we are a household name in Islamic banking. Managing approximately BDT 53,000 crore in deposits, we serve over 3.6 million customers nationwide.
TDS: What are the top savings schemes that you are currently offering?
MRUK: As a leading Shariah-based Islamic bank with a growing national footprint, we have consistently diversified our deposit offerings to meet the evolving financial needs of our customers. Our savings portfolio is inclusive, flexible, and fully Shariah-compliant. Key offerings include Mudaraba Savings Accounts, Monthly Profit Schemes, and Mudaraba Term Deposits.
These products are tailored to specific needs. Mudaraba Savings help young and new savers build habits, while Monthly Profit Schemes provide stable, halal income. Term Deposits cater to long-term planners, including entrepreneurs and SMEs. Purpose-driven options like the Hajj Deposit and dedicated products for women and youth promote financial inclusion.
TDS: What initiatives have your bank taken to encourage savings habits among general people?
MRUK: Promoting a smart, ethical, and inclusive savings culture is central to our mission. Our initiatives span digital transformation, product innovation, and nationwide outreach. We have restructured our services to bring banking closer to people, particularly in rural and underserved communities. Through mobile and internet banking, customers can open and operate savings accounts with ease.
We offer tailored deposit solutions for all life stages and income levels—students, homemakers, SMEs, youth, NRBs, and senior citizens. Our financial literacy programmes, school initiatives, and community outreach promote responsible saving.
Campaigns such as Al-Amanah, Amwal, and the Chairman’s Award recognise disciplined savers, while CASA and diversified deposit drives accelerate mobilization.
TDS: What innovative steps have been implemented to make savings products more convenient and accessible for all kinds of customers?
MRUK: Innovation at Al-Arafah Islami Bank is purposeful and technology-driven. Through Internet and Mobile Banking, e-KYC, QR transactions, and automation, we ensure round-the-clock access. By aligning product design with real-life needs, we make savings more convenient, inclusive, and fully Shariah-compliant—especially for remote, underserved, and digitally savvy customers.
TDS: What are your future plans regarding the enhancement and expansion of savings products?
MRUK: Our future vision for savings is rooted in innovation, transformation, and inclusive growth. We are undertaking strategic process re-engineering and technological upgrades to boost agility and expand digital access. By strengthening our retail hubs and centralised operations, we aim to deepen our presence in rural areas.
We plan to launch goal-based savings products for education, healthcare, travel, and emergencies, along with green savings options that promote ethical and sustainable investments. Empowering entrepreneurs is also key, with savings-linked seed funding schemes for youth, women, and small businesses.
Guided by our Board’s commitment to governance and digital agility, we aspire to become the most technologically advanced and ethically grounded Shariah-based bank in Bangladesh.
