Al-Arafah Islami Bank Signs MoU with Sunlife Insurance

Al-Arafah Islami Bank PLC, a leading Shariah-compliant bank in Bangladesh, has signed a Memorandum of Understanding (MoU) with Sunlife Insurance Company Limited to enhance premium collection and strengthen digital financial services.

The partnership aims to streamline premium collection processes, improve data security, enable real-time reporting, and facilitate efficient financial reconciliation across Sunlife’s operational network. The collaboration is expected to significantly enhance customer experience and operational efficiency through a more secure, technology-driven collection management system.

Key Signatories and Attendees

The MoU was signed on 25 November 2025 at Al-Arafah Islami Bank’s Head Office by:

Md Abdullah Al Mamun, Deputy Managing Director of Al-Arafah Islami Bank

Md Rafique Ahmed, Chief Executive Officer of Sunlife Insurance

Senior officials from both organisations were present at the ceremony, including Md Amdadul Haque, Senior Assistant Vice President; Bacchu Sheikh, Assistant Vice President; Abu Kawser, Senior Principal Officer; and Nazmul Hossain, among others.

This collaboration marks a significant step in enhancing digital financial services in the insurance sector, contributing to a more efficient and customer-friendly experience.