Prime Bank Investment Ltd. (PBIL), a leading investment bank and a wholly owned subsidiary of Prime Bank PLC, has signed a Memorandum of Understanding (MoU) with IFA Consultancy Ltd. (IFAC), a premier Shariah advisory firm, to jointly promote Islamic investment in Bangladesh. Syed M Omar Tayub, Managing Director & CEO of PBIL, and Mufti Abdullah Masum, CSAA, Founder & Director of IFAC, signed the agreement at PBIL's headquarters. This strategic partnership aims to advance Shariah-compliant investment management services by combining PBIL's portfolio management expertise with IFAC's Shariah advisory capabilities. The collaboration will cover key areas such as training and capacity building, Sukuk advisory, Shariah index development, product structuring, Shariah supervision and review, and research and publications. "This collaboration marks a key milestone in strengthening the Islamic investment ecosystem in Bangladesh," said Syed M Omar Tayub. "Together with IFAC, we aim to deliver innovative Shariah-compliant investment solutions that uphold integrity and meet evolving market needs." Mufti Abdullah Masum added, "We are proud to partner with PBIL to drive the adoption of Halal financial practices and support sustainable growth in the sector." This alliance reflects both organizations' commitment to promoting Halal economics and expanding ethical, Shariah-compliant investment opportunities in Bangladesh.
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