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Micro Finance
Introduction
Purpose
Eligibility
Modes
Securities
Profit/Rent Rates
Other Charges
Repayment
Savings
Documentation
AIBL News

26 Jul, 2016
change of telephone number of aibl share department

26 Jul, 2016
audit committee meeting of al-arafah islami bank ltd. held

25 Jul, 2016
al-arafah islami bank limited opens 136th branch at kaliakoir, gazipur

24 Jul, 2016
executive committee meeting of al-arafah islami bank ltd. held

23 Jul, 2016
‘half yearly business development conference 2016’ of al-arafah islami bank ltd. held

20 Jul, 2016
al-arafah islami bank ltd. opens atm booth at borguna

18 Jul, 2016
al-arafah islami bank limited opens 135th branch at polashbari, gaibandha

17 Jul, 2016
al-arafah islami bank limited opens 134th branch at natore

14 Jul, 2016
executive committee meeting of al-arafah islami bank ltd. held

10 Jul, 2016
monthly business development conference of al-arafah islami bank limited held

29 Jun, 2016
md. habibur rahman renewed as managing director of al-arafah islami bank ltd.

28 Jun, 2016
al-arafah islami bank limited donates tk 1.5 crore to prime minister’s relief fund

26 Jun, 2016
al-arafah islami bank limited arranges iftar mahfil at head office

23 Jun, 2016
al-arafah islami bank limited arranges iftar mahfil and meet the clients program at matijhi branch

22 Jun, 2016
al-arafah islami bank limited opens 133rd branch at pallabi

21 Jun, 2016
al-arafah islami bank limited arranges iftar mahfil and meet the clients program at nawabpur road branch

20 Jun, 2016
al-arafah islami bank limited opens 132nd branch at chuadanga

15 Jun, 2016
al-arafah islami bank limited opens 131st branch at amanbazar, chittagong

07 Jun, 2016
al-arafah islami bank ltd. opens atm booth at madhabdi, narsingdi

05 Jun, 2016
al-arafah islami bank limited gives bicycles and scholarships to rural students

04 Jun, 2016
al-arafah islami bank limited sponsors inauguration ceremony for meritorious students

01 Jun, 2016
al-arafah islami bank ltd. signs agreement with transfast remmitance llc, usa

29 May, 2016
al-arafah islami bank limited opens 130th branch at laxmipur

25 May, 2016
executive development program on ‘integrity in banking’ held at al-arafah islami bank limited

12 May, 2016
al-arafah islami bank ltd receives ‘letter of appreciation’ from bangladesh bank

09 May, 2016
reception & business development meeting

08 May, 2016
al-arafah islami bank ltd inaugurates charmonai madrasa agent outlet at barisal

03 May, 2016
al-arafah islami bank limited chairman alhajj abdus samad meets top executives

02 May, 2016
hafez alhajj mohammad enayet ullah elected as chairman and salim rahman elected as vice chairman of executive committee of al-arafah islami bank ltd.

28 Apr, 2016
alhajj mohammed abdus salam elected as vice-chairman of al-arafah islami bank ltd.

27 Apr, 2016
alhajj abdus samad elected as the chairman of al-arafah islami bank limited

27 Apr, 2016
al-arafah islami bank ltd. approves 15% dividend for 2015

26 Apr, 2016
notice of the 18th extra ordinary general meeting (egm)

21 Apr, 2016
hafez alhajj md. enayet ullah elected as president of moulovi bazar merchant association

30 Mar, 2016
islamic corporation for the development of the private sector (icd) goes into strategic alliance with al-arafah islami bank limited (aibl), bangladesh*

24 Mar, 2016
al-arafah islami bank arranges introduction program for school banking services

22 Mar, 2016
price sensitive information

10 Dec, 2015
al-arafah islami bank limited donates blankets to prime minister’s relief fund

Micro Finance
Introduction
The economy of Bangladesh mostly depends on rural development. Poverty stands in the way of the growth of this economy. Although a number of NGOs and financial organizations work in the sub-urban and villages with a view to alleviating poverty, a very few are found working with the compliance of Islamic Sariah. It is a national responsibility to alleviate abject poverty from the rural area. To help change the socio-economic condition of the impoverished people of the villages, Al-Arafah Islami Bank Limited has initiated a project entitled "Krishi O Grameen Khudra Biniog Prokolpa (Microfinance). With this project, Bank is working for reduction of poverty, development in agricultural sectors, creation of job opportunities etc. We hope this will develop the socio-economic condition of a large segment of the rural folk.
It is a group based work. The main characteristics are:
This is a supervised investment programme
A group consists of 5 (five) members
8 (eight) groups make a Samitee. It means that a Samitee contains 40 members
Every group has a Group Leader and a Deputy Group Leader
Every Samitee has a Samitee Leader and a Deputy Samitee Leader
All members must attend the weekly meeting
Ceiling of Microfinance Investment is from Tk. 3,000 to Tk. 50,000.
Purpose
To facilitate rural entrepreneurs
To develop socio-economic condition of rural people
To save rural people from usury
To facilitate the growth of agro-industries
To create employment scope
To broaden the base of Islamic Banking in the rural society
To encourage women entrepreneurs
Modes
Working Capital Investment
Bai-Muajjal
Fixed Capital Investment
HPSM (20% Equity required)
Securities Against Investment
Members in a group are the guarantor of each other
Personal guarantee of local eminent personalities
Hypothecation of stock-in-trade and goods to be fixed delivered under deferred payment
If necessary, Bank may lien personal savings and Long term deposits
Documentation
Nationality Certificate from Union Parishad Chairman or Birth Registration Certificate or National ID card,
Letter of group guarantee
Letter of agreement
Some necessary Charge Documents
Photographs
Eligibility
Permanent resident of branch's commanding area
Age must range between 18 to 50 years
Physically fit and capable of working hard
The person borrowed any amount of money from other institution is not eligible to be our microfinance member
All members in a group are the guarantor of each other
Other terms and conditions stipulated by the bank
Savings
Members of the group have to open a Non-operative Savings Account in their individual names
Minimum Weekly compulsory savings is 0.2% of approved investment
Normally members cannot withdraw their savings before adjustment of investment, but when emergency, they can take it by fulfilling some terms and conditions.
Rate of Profit/ Rent
Working Capital Investment : 15%
(On Reducing Balance Method)
Other Charges
Risk Fund :
01% of Investment Limit
(Payable before disbursement)
Repayment
Weakly installment basis
Number of installment is 50
(2% of Investment per week).
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