Al-Arafah Islami Bank PLC has signed a refinance agreement with Bangladesh Bank under the Cluster Financing Scheme, supervised by the SME and Special Programmes Department (SMESPD) of Bangladesh Bank. The agreement was signed on June 28, 2026, at Bangladesh Bank Headquarters.

Director of SMESPD of Bangladesh Bank Naoshad Mostafa and Managing Director & CEO of Al-Arafah Islami Bank Mohd. Rafat Ullah Khan signed the agreement on behalf of their respective organizations.

Deputy Governor of Bangladesh Bank Nurun Nahar, Executive Director of Bangladesh Bank Husne Ara Shikha, Senior Vice President & Head of SME Business of Al-Arafah Islami Bank Md. Monirul Islam, Senior Assistant Vice President & Head of Refinance Unit of Al-Arafah Islami Bank Sheikh Asadul Haque, along with senior officials of Bangladesh Bank and Al-Arafah Islami Bank were also present at the ceremony.

The refinance agreement is expected to facilitate greater access to finance for cluster-based cottage, micro, small and medium enterprises (CMSMEs), thereby contributing to the sustainable development of the SME sector and generating employment across the country.