Akij Resources Limited, a leading industrial group in Bangladesh, has announced its plans to enter the country’s banking sector with a fully Shariah-compliant digital bank, aiming to usher in a new era for the nation’s financial industry.
The announcement was made on Thursday (October 23) at a press meet titled “Akij Resources Digital Ecosystem: Leading the Transformation,” held at Akij House in the capital. The group is preparing to launch a full-fledged, Shariah-based digital bank.
Vision for Ethical and Inclusive Banking
Sheikh Jasim Uddin, Managing Director of Akij Resources Limited, stated, “Akij Resources believes that banking is not just about transactions; it is a tool for people’s financial empowerment and social progress. Standing on a strong foundation of heritage, we aim to create a digital bank that will be guided by the synthesis of technology, ethics, and humanity.”
Introducing ‘Munafa Digital Bank’
At the press conference, it was revealed that the proposed bank, tentatively named Munafa Digital Bank (Profit Digital Bank), will be Bangladesh’s first Shariah-compliant, completely interest-free, and full-fledged digital bank.
The core objective of this bank is to establish an ethical, transparent, and accountable banking system. Customers will reportedly receive all digital banking services without any service charges.
Technological and Ethical Integration
Company officials highlighted that this initiative will open a new horizon in the Islamic finance sector in Bangladesh. The system will blend technology and Shariah principles to create a fair, human-centric, and inclusive financial experience.
Tawfiq Hasan, Chief Business Development Officer, emphasized the accessibility goal, saying, “We want to develop a digital banking service that is open to all. Our goal is to bring every citizen of the country under the umbrella of banking through the aid of technology.”
Engr. Md. Feroz Kabir, Chief Digital and Innovation Officer, added that the Akij Resources technology team is already developing the banking infrastructure of the future, where banking will be fast, simple, and user-friendly. Customers will be able to complete all their financial activities without having to visit a physical bank branch.
Also present at the press conference were Mohammad Afsar Uddin, Chief People Officer, and SK Md. Zayed Bin Rashid, Chief Executive of I-BOS Limited.
