Prime Bank partners with As-Sunnah Foundation for charity work

Prime Bank PLC recently signed a partnership agreement with As-Sunnah Foundation, a non-political and non-profit religious charity organisation based in Bangladesh.

Md Nazeem A Choudhury, deputy managing director of the bank, and Md Sabbir Ahmed, general secretary of the foundation, signed the agreement at the bank's corporate office in the capital's Gulshan, said a press release.

Under the agreement, Prime Bank will collect deposits under the Sadaqah Jariyah Account and invest them based on the Mudaraba principle, ensuring ethical and Shariah-compliant financial growth.

The accumulated profits will be allocated to the foundation at agreed timelines, strictly following established guidelines.

The foundation, in turn, will ensure the funds are utilised exclusively for charitable and welfare purposes, reinforcing its commitment to long-term social impact.

This initiative aims to promote continuous giving while fostering economic and social development in Bangladesh.

Syed Ibne Shariar, vice-president and head of the Islamic banking division of the bank, and Hafizur Rahman, head of accounts of the foundation, along with other senior officials from both organisations, were also present.