Al-Arafah Islami Bank signs partnership agreement with upay-

Al-Arafah Islami Bank signs partnership agreement with upay

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 at the bank's head office. Managing Director and CEO of the bank Mohd. Rafat Ullah Khan and Chief Executive Officer of upay Shyamol Boran Das signed the agreement. 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.