International Banking

Al-Arafah Islami Bank PLC. (AIB PLC) is a prominent & one of the largest scheduled Islamic Banks in Bangladesh, operating since 1995. Presently AIBL has a network of 201(Two hundred and One) Branches including 26 Authorized Dealer (AD) Branches and One Off-Shore Banking Unit in the prime & remote locations across the country. All the Branches of the Bank are fully computerized with real time online facilities.

All foreign trade transactions of the bank are process from a centralized unit at the Head Office. AIB PLC is one of the leading partners in International Trade activities of the country and has been maintaining correspondent banking relationship with more than 338 reputed Banks all over the world. The bank is maintaining 33 NOSTRO accounts with renowned International Banks namely Citibank N.A., Standard Chartered Bank, Habib American Bank, Mashreq Bank PSC, Commerzbank AG, ICICI Bank, Axis Bank Ltd., Habib Bank AG Zurich, Shanghai Pudong Development Bank etc.

Al-Arafah Islami Bank PLC. provide Foreign Exchange Services through its 26 AD Branches and International Banking Wing, Head Office covering the following areas:

• Letter of Credit (L/C)
• Import Financing
• Export Financing
• Remittance Service
• Foreign Currency Account Facilities
• Correspondent Banking Service
• Off-Shore Banking Service
• Centralized Foreign Trade Processing Service
• L/C Advising Service
• SWIFT Sanction Screening
• Vessel Tracking Services
• Guarantee Business

Letter of Credit:

• Cash L/C (Sight/Deferred/UPAS/EDF)
• Back to Back L/C
• Transferrable/Transferred L/C

Import Financing:

• Murabaha Import Bills (MIB)
• Murabaha Post Import (MPI)
• Murabaha Trust Receipt (TR)
• Murabaha Foreign currency Investment (MFCI)

Export Financing:

• Murabaha Foreign currency Investment (MFCI-EDF)
• Bai-Istishna
• Bai-Salam
• Musharaka Documentary Bill (MDB-BDT)
• Musharaka Documentary Bill (MDB-FC)
• Foreign Bill Purchase (FBP)

Remittance Service:

• Same day/Instant Account Credit to Beneficiary’s account maintained with Al-Arafah Islami Bank PLC.
  Same day credit to Beneficiary’s Account maintained with any other bank branches in Bangladesh through BEFTN (Bangladesh Electronic Fund Transfer Network).
• Cash payout over the counters of AIBPLC Branches, Agent Banking Outlets & Sub- Branches through secret pin numbers throughout the country.
• Instant Credit to the Beneficiary’s MFS (bKash) wallet.

Contact
Foreign Remittance Division,
International Banking Wing

Address:
Al-Arafah Tower(level:9)
63, Purana Paltan, Dhaka-1000
Contact Numbers: +88-02-44850005-20 (auto hunting),Ext:395, 396,397,398,399,400,401,402,403
Email: remittance@aibl.com.bd; zahed@aibl.com.bd

Foreign Currency Account Facilities:

• Student File
• Mudaraba Foreign Currency Deposit Account (MFCD)
• Non Resident Foreign Currency Deposit Account
• Resident Foreign Currency Deposit Account
• Exporters’ Retention Quota Accounts
• Foreign Currency Accounts for the EPZ Companies
• Foreign Currency Accounts for Shipping Companies, Airlines and Freight Forwarders
• Cash Dollar Endorsement and Sales

Correspondent Banking Service:

Off-Shore Banking Service:

• Import Bill Discounting under UPAS Facilities
• Export Bill Discounting under Musharaka Documentary Bill (MDB-FC)
• Long Term Facilities under HPSM-FC

Centralized Foreign Trade Processing Service:

The Foreign Trade Processing Division (FTPD) of Al-Arafah Islami Bank Ltd. operating all the transaction and processing services for cash and back to back LCs regarding export and import from a single point.

L/C Advising Service:

Having RMA with many banks, we often receive L/Cs from different banks in favor of thebeneficiaries who are not our customers. We extend our advising service for that L/Cs in proper and compliant manner.

SWIFT Sanction Screening:

We have already implemented SWIFT Sanctions Screening solution in our Core Banking Software for screening of all incoming and outgoing transactions to minimize the AML/ CFT risks which has increased our acceptability and goodwill to our all correspondents home and abroad.

Vessel Tracking Services:

In 2019 we implemented web based vessel tracking services for Import and Export business in our bank from LIoyd’s List Intelligence (LLI),UK to comply with the requirement of ‘’ Maritime Sanctions Screening.

Guarantee Business:

The Bank extends Guarantee Service including Omra Guarantee on behalf of its customers favoring the Local and International Organizations/Correspondents.