Al-Arafah Islami Bank and Sunlife Insurance Join Forces to Enhance Digital Financial Services. Dhaka, Bangladesh – 25 November 2025: Al-Arafah Islami Bank PLC, a prominent Shariah-compliant bank in Bangladesh, has formalised a strategic partnership with Sunlife Insurance Company Limited through the signing of a Memorandum of Understanding (MoU). The collaboration is set to modernise premium collection processes and bolster the delivery of digital financial services across Sunlife’s operations.
Enhancing Operational Efficiency and Customer Experience
The MoU aims to streamline the insurance premium collection process, strengthen data security, enable real-time reporting, and facilitate efficient financial reconciliation across Sunlife’s nationwide network. Through a technology-driven system, the partnership is expected to significantly enhance operational efficiency while providing customers with a more seamless, secure, and user-friendly experience.
Speaking at the ceremony, representatives highlighted the importance of integrating digital banking and insurance services to meet the growing demand for secure and convenient financial solutions in Bangladesh. The initiative underscores a broader trend towards digitisation in the financial sector, where banks and insurance companies increasingly collaborate to improve service quality and accessibility.
Key Signatories and Attendees
The MoU was formally signed at the Head Office of Al-Arafah Islami Bank by:
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Md Abdullah Al Mamun, Deputy Managing Director, Al-Arafah Islami Bank
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Md Rafique Ahmed, Chief Executive Officer, Sunlife Insurance
The event was attended by senior officials from both organisations, including:
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Md Amdadul Haque, Senior Assistant Vice President
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Bacchu Sheikh, Assistant Vice President
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Abu Kawser, Senior Principal Officer
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Nazmul Hossain and other key personnel
Looking Ahead
This partnership represents a significant milestone in enhancing digital financial services within the insurance sector. By leveraging Al-Arafah Islami Bank’s expertise in Shariah-compliant banking and Sunlife’s insurance operations, the initiative is poised to offer efficient, secure, and technologically advanced solutions for customers, while strengthening the operational framework of both institutions.
As Bangladesh’s financial landscape increasingly embraces digital transformation, collaborations such as this are expected to play a pivotal role in improving service delivery, safeguarding transactions, and creating a more customer-centric financial ecosystem.