Al-Arafah Islami Bank PLC, one of Bangladesh’s leading Shariah-compliant financial institutions, has entered into a strategic partnership with Seamax Limited, marking a significant stride towards advancing agricultural and rural development across the country. The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) at the bank’s headquarters, a press release confirmed.
Under this agreement, the two organisations will jointly support farmers throughout Bangladesh, with a focus on enhancing crop production, introducing modern farming technologies, and improving access to markets. The initiative seeks to deliver a comprehensive support system, combining financial assistance, technical guidance, and marketing facilitation, thereby promoting sustainable and inclusive rural development.
The MoU signing ceremony was held on Sunday, 15 February 2026, at the head office of Al-Arafah Islami Bank. Representing their respective organisations, S.M. Abu Jafar, Deputy Managing Director of Al-Arafah Islami Bank, and Hiron Nahar, Chairman of Seamax Limited, formally executed the agreement.
The event was attended by senior officials from both organisations, highlighting the strategic 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 aims to improve farmers’ access to modern cultivation techniques, financial literacy programmes, and market networks, aligning with national objectives to increase agricultural productivity. Addressing the gathering, S.M. Abu Jafar emphasised that the bank remains committed to driving socio-economic growth in rural areas by empowering local communities and enhancing farm incomes. Hiron Nahar underscored Seamax Limited’s dedication to sustainable agriculture and highlighted the importance of strategic alliances with financial institutions to strengthen rural economies.
This partnership exemplifies public-private synergy, where banking expertise and agribusiness innovation converge to deliver tangible benefits for farmers. By integrating financial services with agricultural know-how, the alliance seeks to enhance resilience, efficiency, and profitability within Bangladesh’s farming sector.
Looking ahead, the MoU will serve as the foundation for multiple joint initiatives, including farmer training programmes, microfinance schemes, and crop market linkages, reflecting a long-term commitment to fostering sustainable rural development and inclusive growth.