In a bold move that promises to reshape the future of digital financial services, Al-Arafah Islami Bank has signed an agreement with Sunlife Insurance Company Limited. The partnership, announced on 25th November 2025, aims to deliver a cutting-edge premium collection system that will significantly improve operational efficiency and enhance security for corporate clients.
The MoU was signed by Md. Abdullah Al Mamun, Deputy Managing Director of Al-Arafah Islami Bank, and Md. Rafique Ahmed, CEO of Sunlife Insurance, at the bank’s headquarters. The event was attended by senior officials from both institutions, who were keen to witness the official commencement of the collaboration.
A Step Towards the Future of Banking and Insurance
This partnership seeks to take the premium collection process to the next level by incorporating advanced banking technology into Sunlife Insurance’s operations. The new system will be designed to make premium payments faster, more secure, and fully integrated into Sunlife’s wider operational framework. Through this collaboration, Sunlife Insurance hopes to improve the overall customer experience by offering faster, more transparent transactions and better financial management tools.
Better Data Protection and Real-Time Financial Insights
One of the primary goals of this partnership is to provide enhanced data protection. By utilising advanced encryption and digital security technologies, both institutions aim to protect sensitive financial information from cyber threats. This added layer of security will help build trust among clients, who can rest assured that their personal and financial details are in safe hands.
Additionally, real-time reporting features will enable both institutions to provide clients with up-to-date information on their financial transactions. This will ensure greater accuracy and transparency in all dealings, making it easier for corporate clients to keep track of their financial obligations.
Impact on the Corporate Sector
The primary beneficiaries of this collaboration will be corporate clients who rely on seamless premium collection systems to manage their business insurance. With this new digital solution, businesses will enjoy a quicker