Performance Evaluation of Al-Arafah Islami Bank Limited

Abstract

With the aforementioned ideas in mind and with the goal of introducing a cutting-edge banking system based on the Al-Qur'an and Sunnah, Al-Arafah Islami Bank began operations on June 18, 1995. On September 27, 1995, there was an opening ceremony. The Bank was designed and is run by a group of reputable, devoted, and pious individuals from Bangladesh. A.Z.M Shamsul Alam, a well-known Islamic scholar, economist, author, and former official in the Bangladeshi government, is the bank's founding chairman. His progressive leadership and never-ending motivation helped the bank gain traction in Bangladesh's financial market. Twenty devoted and well-known Islamic figures from Bangladesh make up the bank's board of directors. They are renowned for having strong business sense. Al-Arafah Islami Bank Ltd. has 184 branches, 3682 employees overall (as of December 2020), and 12013 shareholders. Its paid-up capital is Taka 4677.28 million, compared to its permitted capital of Taka 5000 million. Al-Arafah Islami Bank Ltd. is the most cutting-edge and well-known bank in Bangladesh thanks to the wisdom of the directors, the work of Islamic bankers, and the will of Almighty Allah. Over the years, the bank has consistently turned a profit and issued a healthy dividend. The bank's prosperity depends on providing top-notch customer service while incorporating new goods and technology. To meet customer needs, the bank offers a wide range of expertly crafted products and services.