Al Arafah Islami Bank- ACI Godrej sign mou for digital collections
Al Arafah Islami Bank Ltd, one of the country's leading Shariah-compliant banks, has signed a Memorandum of Understanding (MoU) with ACI Godrej Agrovet Private Limited to facilitate digital collection of distributor payments through the bank's nationwide network.
Under the agreement, ACI Godrej will collect sales proceeds from its distributors via Al Arafah Islami Bank's branches, sub-branches, and other digital channels, integrated through an Application Programming Interface (API) for seamless and secure transactions.
The MoU was signed at the bank's head office by Md Abdullah Al Mamun, Deputy Managing Director of Al Arafah Islami Bank, and Md Mohiuddin, Chief Financial Officer of ACI Godrej, on Sunday, 12 October 2025.
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Also present were Mohammed Hossain, Deputy Managing Director; Md Zahid Hossain, Vice President; Md Emdadul Haque, Senior Assistant Vice President; and Abu Kawsar, Assistant Vice President, along with senior officials from both organisations.
The partnership aims to enhance collection efficiency and security for corporate clients through the innovative application of banking technology.
