General banking activities of Al-Arafah Islami Bank Limited

Abstract

Commercial banks are one of the key contributors in the economy of developing countries. They act as financial intermediaries by performing the function of mobilizing the funds from one party and lending the same to another while making reasonable amount of profit. Al-Arafah Islami Bank Limited is booked business bank enlisted by the Bangladesh Bank. The elements of the bank cover an extensive variety of keeping money and utilitarian exercises to people, firms, corporate bodies and other multinational offices. Therefore in every aspect of our life we should follow the doctrine of Al-Quran and lifestyle of Hazrat Muhammad (Sm.) for our supreme success. Al-Arafah Islami Bank started its journey in 1995 with the said principles in mind and to introduce a modern banking system based on Al-Quran and Sunnah. A gathering of set up, committed and devout identities of Bangladesh is the draftsmen and chiefs of the Bank. Among them a prominent Islamic researcher, business analyst, author and ex-administrator of Bangladesh government government Mr. A.Z.M Shamsul Alam is the founder chairman of the bank. His progressive leadership and continuous inspiration provided a boost for the bank in getting a foothold in the financial market of Bangladesh. A group of 20 dedicated and noted Islamic personalities of Bangladesh are the member of executive council of the bank. The banking business includes deposits taking, extending credit to corporate organization, retail and small & medium enterprise, trade financing, project financing, lease and hire purchase financing, issuance of local and international credit cards, inward foreign remittances etc. Marketing is definitely not an ongoing wonder as it has been in presence since the main human went into trade relationship for enhancing his general prosperity and way of life. So the keeping money organizations are additionally rehearsing different showcasing. This report is a result of my three month internship program where I have learnt many things that enriched my practical knowledge. This report contains a brief summary about AIBL is information, its product and services, its activities.