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Internship Report on Al-Arafah Islamic Bank Ltd.
Islamic banking is becoming more common in Bangladesh these days. A lot of people are now leaning toward banks that follow religious values. Al-Arafah Islami Bank Limited (AIBL) is one of the key banks working this way. It started back in 1995, and since then, it has been offering banking services that stick to Islamic rules. Right now, AIBL has 226 branches, covering every district in the country.
Purpose and Approach of Al-Arafah Islamic Bank Ltd.
What makes this bank different is its aim to mix finance with social values. AIBL tries to support businesses that are lawful under Islamic teachings. They also try to help low-income people and focus on projects that can create jobs and reduce poverty. It’s not just about profits — they want to support society too.
| Report Title : | Internship Report on Al-Arafah Islamic Bank Ltd. |
| University Name : | United international university |
| Submitted To : | Md. Qamruzzaman Ph.D., ACMA |
| Submitted By : | Md. Nazmus Sakib |
| Total Page : | 30 |
International Banking Activities of Al-Arafah Islamic Bank Ltd:
Although AIBL doesn’t have offices in other countries, it still offers services for international needs. Through Offshore and Non-Resident Banking accounts, the bank allows people to send and receive money internationally. This is useful for people working abroad or companies doing business across borders.
Key Services of Al-Arafah Islamic Bank Ltd.
AIBL works in many areas, including helping farmers, small business owners, and job seekers. The bank tries to invest in useful sectors instead of just focusing on big profits. Its management is skilled, and the staff is trained in Islamic banking. That’s helped it become a respected name in the banking sector.
Retail Banking (Personal Banking)
Al-Arafah Islamic Bank Ltd offers suite of Shariah-compliant retail banking services to meet the financial needs of individuals and families in Bangladesh. Here some of their key offerings giving below:
Main Services of AIBL
Deposit Accounts:
The bank provides accounts based on Islamic principles. These include:
- Savings Accounts (Mudarabah-based)
- Current Accounts (Al-Wadeeah)
- Fixed Term Deposits
Online and Mobile Banking Service of Al-Arafah Islamic Bank Ltd.
They’ve made it easy to do banking from anywhere:
- Through their website, customers can check balances, send money, and pay bills.
- They also have a mobile app for both Android and iPhone users.
Digital Banking Services:
- i-Banking: I-Banking is a digital platform that allows customers to access banking facilities anywhere, anytime by using web and mobile apps. In this process included all kinds of banking features such as, Balance Inquiry, Account Statement, Fund Transfers, Credit Card bill payments, Utility bill Payments and more.
- Mobile App: By using mobile app, there are available for both Android and iOS devices, enabling customers to manage their accounts on the go.
Investments for Customers
If someone needs financial help with personal needs, they offer:
- Home financing options
- Car purchase investments
- Personal financing for education or emergencies
Al-Arafah Islamic Bank Ltd Capital Management Ltd. (AIBLCML)
This is a special unit formed in 2011 that works in the stock market. It’s a merchant bank licensed by the authority. It offers..
- Managing investment accounts
- Helping with IPOs
- Corporate finance services
- Giving advice to companies
- Offering margin loans and other share market services
Islamic Wallet
This is a mobile service for people who don’t always have access to banks. With this wallet, users can send money, pay bills, or do simple banking activities. It’s secure, affordable, and works well even in rural areas. It follows Islamic financial rules too.
Financial Statement of Al-Arafah Islamic Bank Ltd (2023–2024).
In 2023, the bank reported higher profits compared to 2022. They had more investment growth and better returns. AIBL published these details in their annual report, which is available on their official website. Anyone can view reports like the income statement, balance sheet, and more from there.
Annual Report of 2023 and 2024. Click here…
Full Financial Reports Include
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Notes to the Accounts
- Auditor’s Report
If you need you can download these from their financial reports page. Click here
Project Objectives
Main Purpose
To see how AIBL presents its products and keeps in touch with its customers through promotions and communication.
Other Goals
- To match classroom learning with real work
- To learn how daily banking tasks are done
- To find out what challenges the staff face
- To understand how Islamic banking works in practice
- To measure the bank’s overall performance during the internship
Methodology:
All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources.
What I Experienced Directly
- I worked on real tasks at the bank
- Watched and participated in different desk jobs
- Talked to officers and learned from them
What I Read or Found Elsewhere
- Booklets and internal reports
- The bank’s official website and Facebook posts
- Annual reports and brochures provided during the internship
Conclusion of the Report
Working with Al-Arafah Islami Bank gave me a deeper look at how Islamic banks operate. They don’t just follow rules they try to help the community too. From offering modern tools like mobile apps to supporting ethical investments, AIBL is moving ahead while staying rooted in Islamic values. It was a valuable learning experience, and I believe banks like this will keep growing in the future.
