Al-Arafah Islami Bank signs agreement with ACI Godrej Agrovet

A Memorandum of Understanding (MoU) has been signed between Al Arafah Islami Bank, the country’s leading Sharia-compliant bank, and ACI Godrej Agrovet Private Limited. Under the agreement, ACI Godrej will collect sales prices from its distributors through the bank’s branches, sub-branches and other distribution channels, connected through an Application Programming Interface (API).

At a ceremony organised at the bank’s Head Office, Deputy Managing Director of the bank Md. Abdullah Al Mamun, and the Chief Financial Officer of ACI Godrej, Md. Mohiuddin, signed the agreement on behalf of their respective organisations on Sunday, October 12, 2025, according to a press release.

The agreement signing ceremony was attended by the bank’s Deputy Managing Director, Mohammed Hossain, Vice President Md. Zahid Hossain, Senior Assistant Vice President, Md. Emdadul Haque, Assistant Vice President, Abu Kawsar and senior officials of both organisations.

This agreement will ensure more effective and secure collection management for corporate customers through innovative use of banking technology.