Al-Arafah Islami Bank, Nagad join hands to enhance digital payments

Al-Arafah Islami Bank PLC has entered into a strategic partnership agreement with mobile financial services (MFS) provider Nagad Limited.

SM Abu Jafar, deputy managing director of Al-Arafah Islami Bank PLC, and Md Shahin Sarwar Bhuiyan, chief commercial officer (current charge) of Nagad Limited, signed the agreement at the bank's head office in Dhaka on Wednesday, according to a press release.

Under the agreement, customers will be able to transfer funds from Al-Arafah Islami Bank's internet banking platform to Nagad and make various payments through the MFS provider.

Mohd Rafat Ullah Khan, managing director (current charge) of the bank, and Md Habibur Rahman, associate administrator of Nagad, attended the signing ceremony.

Md Soheb Ahmed, executive vice-president and chief technology officer (current charge) of the bank; Mohammad Shahadat Hossain, head of the digital banking division; Md Saidur Rahman Dipu, head of business sales at Nagad; and Istiaq Ahmed Shawon, head of bank, FI, MFI and NBFI, along with other senior officials of both institutions, were also present.