Al-Arafah Islami Bank PLC, one of Bangladesh’s foremost Shariah-compliant financial institutions, has entered into a strategic collaboration with Seamax Limited, signalling a significant step towards advancing agricultural and rural development in the country. The partnership was formalised through the signing of a Memorandum of Understanding (MoU), a press release confirmed.
The agreement establishes a framework for both organisations to jointly support farmers across Bangladesh, focusing on enhancing crop production and improving market access. Through this collaboration, the partners aim to provide comprehensive assistance spanning financial support, technological guidance, and marketing facilitation, thereby contributing to sustainable rural development.
The MoU signing ceremony took place at the head office of Al-Arafah Islami Bank on Sunday, 15 February 2026. On behalf of their respective organisations, S.M. Abu Jafar, Deputy Managing Director of Al-Arafah Islami Bank, and Hiron Nahar, Chairman of Seamax Limited, signed the agreement.
Several senior officials from both organisations attended the ceremony, underscoring the significance of the partnership:
| Name | Position | Organisation |
|---|---|---|
| Shamsul Alam | Director | Seamax Limited |
| Monirul Islam | Senior Vice President & SME Business Head | Al-Arafah Islami Bank PLC |
| Mahmmud Riyad | Vice President & Head of Al-Arafah Rural Development Program | Al-Arafah Islami Bank PLC |
| M. M. Rafiqul Islam | Senior Assistant Vice President | Al-Arafah Islami Bank PLC |
The collaboration is expected to facilitate access to modern farming techniques, financial literacy programs, and marketing networks for rural farmers, aligning with national priorities to boost agricultural productivity. Speaking at the event, S.M. Abu Jafar highlighted that the bank is committed to driving socioeconomic growth in rural areas by empowering local communities and enhancing farm incomes. Hiron Nahar emphasised Seamax Limited’s dedication to sustainable agriculture and the importance of partnerships with financial institutions to strengthen the rural economy.
This alliance represents a model of public-private synergy, where banking expertise and agribusiness innovation converge to create tangible benefits for farmers. By combining financial services with agricultural know-how, Al-Arafah Islami Bank and Seamax Limited aim to foster resilience, efficiency, and profitability in the country’s farming sector.
The MoU lays the foundation for a series of joint initiatives, including training programs for farmers, microfinance schemes, and market linkages for crops, reflecting a long-term commitment to inclusive rural development.