General banking activities of Al-Arafah Islami Bank Limited

Abstract

Commercial banks are the main contributors in the economy of developing countries like Bangladesh. They act the most crucial role in this century. They organized funds from party and lend it to others. At the same time, they make profit as well from this process. Al-Arafah Islami Bank Limited is one of the best and renowned Islami Bank in Bangladesh. They have started their journey in 1995. They tried to introduce a modern banking system based on Al-Quran and Sunnah. A renowned Islamic Researcher, Business Analyst, Author and Ex- Administrator of Bangladesh Government Mr. A.Z.M Shamsul Alam is the founder of this bank. His proper guidance and inspiration boosted the bank in getting a foothold in the financial market of Bangladesh. A group of 20 dedicated and Islamic personalities of Bangladesh are the executive council of AIBL. The banking business includes deposit taking, extending credit to corporate organizations, retail and small and medium enterprise, lease and hire purchase financing, trade financing, issuance of both local and international credit cards etc. This report is a result of my three-month internship program. Here, I have learnt so many things that enriched my knowledge about General Banking Activities. Moreover, this report contains a brief summary about AIBL’s information, their products, services and their activities.