AIB 4 new shariah-compliant products launched

Al-Arafah Islami Bank PLC has unveiled four new shariah-compliant CMSME products to expand modern, accessible, and customer-centric investment services while strengthening the financial capacity of cottage, micro, small, and medium enterprises (CMSMEs).

The products are Nisa, Tijara, Al-Awana, and Al-Tawfiq, according to a press release.

Among the newly launched products, Nisa and Tijara offer collateral-free shariah-compliant investment facilities, while Al-Awana and Al-Tawfiq provide investment facilities against collateral.

The new products are designed to address the financing needs of entrepreneurs, enabling business expansion, increased production, and employment generation.