Assalam Finance & Investment Ltd

Assalam Finance & Investment Ltd (AFIL) is a Bangladeshi financial institution operating under Islamic Sharia principles. It distinguishes itself from conventional banks by offering a range of products and services that adhere to Islamic finance guidelines, prohibiting interest (riba) and promoting ethical investment practices. AFIL aims to contribute to the economic development of Bangladesh while upholding the values of Islamic finance.

Established with the vision of providing Sharia-compliant financial solutions, AFIL offers various products tailored to both individual and corporate needs. For individuals, these typically include deposit schemes based on Mudaraba and Wakala principles, where profits are shared between the bank and the depositor according to pre-agreed ratios. Financing options for personal needs like home purchases, vehicles, and education are also available, structured under Islamic modes of financing such as Murabaha (cost-plus financing), Ijara (leasing), and HPSM (Hire Purchase under Shirkatul Melk).

For businesses, AFIL provides working capital financing, project financing, and trade financing, all adhering to Sharia principles. These financing options enable businesses to expand their operations, undertake new projects, and facilitate international trade while remaining compliant with Islamic financial ethics. AFIL also offers advisory services to businesses seeking to understand and implement Sharia-compliant financial practices within their organizations.

A core principle of AFIL’s operations is transparency and ethical conduct. All financial transactions are overseen by a Sharia Supervisory Board, consisting of qualified Islamic scholars who ensure compliance with Islamic law. This board reviews and approves all products and services to guarantee they align with the principles of Islamic finance, providing assurance to customers that their investments are ethically sound.

AFIL’s commitment extends beyond mere financial transactions. It actively participates in community development initiatives, often focusing on poverty alleviation and education. By supporting these programs, AFIL strives to create a positive impact on the lives of individuals and communities across Bangladesh, further reinforcing its commitment to ethical and responsible banking practices.

The growth of Islamic finance in Bangladesh reflects a growing demand for ethical and socially responsible financial options. AFIL, as a key player in this sector, plays a significant role in meeting this demand by offering a diverse range of Sharia-compliant products and services. Through its dedication to ethical banking, community development, and adherence to Islamic principles, Assalam Finance & Investment Ltd aims to be a leading force in promoting sustainable and inclusive economic growth in Bangladesh.