General Banking Activities of Al- Arafah Islami Bank

Abstract

Banking sector is very essential in a modern society. It plays a big role in the economic development of a country. Now-a-days it is expanding its hand in different financial events. It is becoming faster, easier and the banking arena is becoming wider. Banking systems hold an important place in a nation’s economy. Banking is the backbone of an economy. All sorts of economic and financial activities revolve round the axis of the bank. . Islamic Bank’ activity follow on Islamic Shariah and all types of transactions are free from interest. Islami Bank does not pay interest to depositor. Instead depositors participate in the profitability of the bank. Justified profit is the basis of financial transaction of this bank. Al-Arafah Islami Bank Limited (AIBL) is a financial institution. Its status, rules and procedures show commitment to the principle of Islamic Shariah. It is one of the progressing Islamic banks in Bangladesh. Al-Arafah Islami Bank Limited started its activity in 1995. The bank has opened 154 (till now) branches covering important commercial areas in the country. Due to high demand of better service, all banking organizations are coming with different ideas & products. In order to survive in this competitive sector, all banking organizations are looking for better service opportunities to provide their valuable customers.