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

19 May, 2013
alhajj abdus samad re-elected as chairman and alhajj abdul malek mollah re-elected as vice chairman of executive committee of al-arafah islami bank ltd.

16 May, 2013
al-arafah islami bank ltd. gives tk. 2 crore to prime minister’s relif and welfare fund for the victims of savar building collapse

14 May, 2013
mr. badiur rahman will continue as the chairman of al-arafah islami bank ltd. for 6th time

14 May, 2013
al-arafah islami bank ltd. approved 17% bonus dividend

29 Apr, 2013
al-arafah islami bank ltd. will donate tk.25,000 and a day’s salary of the employees to each of deceased families in savar tragedy

25 Apr, 2013
proxy form (agm) 2013

23 Apr, 2013
al-arafah islami bank ltd. donated tk. 3.0 million to bangladesh olympic association for organizing 8th bangladesh game-2013

13 Apr, 2013
al-arafah islami bank ltd. donates ‘ambulance’ to chittagong university medical center

04 Apr, 2013
al-arafah islami bank ltd. recommended 17% stock dividend for 2012

04 Apr, 2013
notice of the agm

04 Apr, 2013
price sensitive information

04 Apr, 2013
notice of the egm

10 Mar, 2013
al-arafah islami bank limited provides scholarship to the poor and meritorious students

09 Mar, 2013
2013_03_09 - training 056

07 Mar, 2013
al-arafah islami bank limited gives donation to the family of martyred army officer killed in bdr carnage at pilkhana

05 Feb, 2013
rfp for merchant bank management software

02 Jan, 2013
hrd circular

02 Jan, 2013
hrd circular

26 Dec, 2012
board meeting of al-arafah islami bank ltd. held

03 Jun, 2012
bonus share

31 May, 2012
al-arafah islami bank ltd. opens its 89th branch at rahimanagar

30 May, 2012
concluding ceremony of ‘foundation course on banking’ at al-arafah islami bank ltd. held

23 May, 2012
mr. s m shameem iqbal re-elected as the vice chairman of al-arafah islami bank ltd.

20 May, 2012
al-arafah islami bank ltd. approved 21% bonus dividend

20 May, 2012
mr. badiur rahman will continue as the chairman of al-arafah islami bank ltd. for 5th time

13 May, 2012
al-arafah islami bank ltd launches “xpress money” under remittance arrangement with southeast bank limited

08 May, 2012
attendance slip & proxy form

03 May, 2012
notice of the 17th annual general meeting (agm)

19 Apr, 2012
al-arafah islami bank ltd. recommended 21% stock dividend for 2011

19 Apr, 2012
price sensitive information

19 Apr, 2012
al-arafah islami bank ltd. launched ‘fast cash’ debit card

10 Apr, 2012
al-arafah islami bank ltd. signs mamorandum of understanding (mou) with hajj agencies association of bangladesh (haab)

24 Mar, 2012
al-arafah islami bank ltd. inaugurates school banking and provides scholarship to poor students

12 Mar, 2012
kazi towhidul alam new deputy managing director of al-arafah islami bank ltd.

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).