ZCZC
BSS-45
AIBL-ISLAMI-WALLET
Al-Arafah bank launches ‘Islamic Wallet’
DHAKA, Dec 10, 2019 (BSS) – Al-Arafah Islami Bank Limited (AIBL) today launched ‘Islamic Wallet’ with D Money Bangladesh Limited as strategic partner to facilitate transactions with digital financial service through mobile phone.
Bangladesh Bank (BB) Governor Fazle Kabir inaugurated the Islamic Wallet, a Shariah-based Digital Financial Service, as the chief guest at the Le Meridien Hotel here, said a press release.
Referring to the economic growth of Bangladesh, Fazle Kabir said, at present US$ 32 billion foreign currency reserve in Bangladesh and it has become the 39th largest economic country in the world.
AIBL Chairman Abdus Samad Labu and Managing Director and CEO Farman R Chowdhury also addressed the occasion.
Representatives of the Islamic Financial Services Board (IFSB), deputy governors of Bangladesh Bank, Al-Arafah Islami Bank Limited board of directors, among others, were present on the occasion.
This is the country’s first Shariah-based digital financial service through mobile phone and the new wallet will facilitate all kinds of financial transactions, bill payment and account management.
The wallet provides Shariah based Digital Financial Services through a mobile app, allowing users to make fast, secure and hassle-free online and mobile payments.
It allows cash-in and cash-out; fund transfers from bank accounts and cards; and access to a range of lifestyle services. It facilitates Person-to-Business (P2B) payments such as bill payment, food delivery, mobile top-up, insurance premiums and loan installments; Business-to-Person (B2P) payments such as payroll and commission disbursement; Government-to-Person (G2P) payments such as subsidies, freedom fighter allowances, social welfare payments and endowments; and Person-to-Government (P2G) payments such as government duties, taxes and fees.
BSS/PR/KUC/MMA/1910hrs