Prime Bank Investment and IFA Consultancy Sign MoU
Prime Bank Investment Ltd. (PBIL), a leading investment bank and subsidiary of Prime Bank PLC, has signed a Memorandum of Understanding (MoU) with IFA Consultancy Ltd. (IFAC), a premier Shariah advisory firm, to advance Islamic investment in Bangladesh jointly.
The MoU was signed at PBIL's headquarters by Syed M Omar Tayub, Managing Director and CEO of PBIL, and Mufti Abdullah Masum, CSAA, Founder and Director of IFAC.
This strategic partnership aims to expand Shariah-compliant investment management services by integrating PBIL's expertise in portfolio management with IFAC's in-depth knowledge of Shariah advisory services. The collaboration will encompass key areas, including Sukuk advisory, Shariah index development, product structuring, supervision and review, training, capacity building, and research and publication.
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In 2024, PBIL made a landmark move by launching PrimeInvest Shariah—the country's first Shariah-compliant capital market investment scheme—as part of its #AccessToInvestment initiative. This latest alliance reinforces PBIL's commitment to making Halal investment opportunities more accessible and aligned with ethical financial principles.
"This collaboration marks a key milestone in strengthening the Islamic investment ecosystem in Bangladesh," said Syed M Omar Tayub. "Together with IFAC, we aim to deliver innovative Shariah-compliant investment solutions that uphold integrity and meet evolving market needs."
Mufti Abdullah Masum commented, "We are proud to partner with PBIL to drive the adoption of Halal financial practices and support sustainable growth in the sector."
The agreement reflects both organisations' shared vision to promote Halal economics and expand ethical, inclusive investment avenues in Bangladesh.
