Akij resource to launch ‘Munafa digital bank’
Business Report :
Akij Resource has announced plans to launch an Islamic digital bank called ‘Munafa Digital Bank’, aiming to provide affordable and accessible financial services across Bangladesh. The company plans to submit its application to Bangladesh Bank soon.
At a press conference held at Akij House on Thursday, senior officials said the bank will focus on micro, small, and medium enterprises (MSMEs), housing loans, and marginalised communities. Money transfers through the bank will be free of charge, and foreign entrepreneurs and institutions with digital banking experience will be among its partners.
Md Firoz Kabir, Chief Digital and Innovation Officer of Akij Resource, said the bank’s ecosystem is ready to support Bangladesh Bank’s Digital Bank Framework and the Smart Bangladesh 2030 Vision. Sheikh Jasim Uddin, Managing Director of Akij Resource, said: “This is the perfect moment for us to enter the banking sector with a forward-looking vision, while creating significant employment opportunities for talented professionals in Bangladesh.”
The company also shared its growth story. Akij Resource started with four entities inherited from Akij Group, employing 3,000 workers and valued at Tk 2,200 crore.
Today, it has grown to 40 enterprises with nearly 10,000 employees and a combined valuation of Tk 12,200 crore, spanning sectors such as logistics, technology, consumer goods, trading, agriculture, services, engineering, automobiles, media, healthcare, and construction.
Sk Md Jayed Bin Rashid, CEO of iBOS Limited, highlighted Akij Resource’s strong technological backbone and governance, saying these strengths position the company to operate as a next-generation digital bank.
Bangladesh Bank reopened applications for digital banks in August, initially accepting submissions from September 1 to 30, with the deadline later extended to November 2. Akij Resource now joins the growing list of investors looking to enter the country’s digital banking sector.
