In a move to open a new chapter in Bangladesh’s banking sector, Akij Resources Limited, one of the country’s leading industrial conglomerates, has announced plans to launch a fully-fledged Shariah-compliant digital bank.
The announcement came on Thursday (23 October) during a press conference titled “Akij Resource Digital Ecosystem: Leading the Change” held at the company’s headquarters, Akij House, in Dhaka. The initiative marks Akij’s entry into the rapidly expanding digital financial landscape, guided by Islamic principles and modern technology.
Sheikh Jasim Uddin, Managing Director of Akij Resources Limited, stated: “Akij Resources believes that banking is not merely about transactions; it is a tool for financial empowerment and social progress. Standing on the firm foundation of tradition, we aim to create a digital bank that operates on the pillars of technology, ethics, and humanity.”
He added that the forthcoming institution will be designed to bridge the gap between innovation and inclusion, ensuring that banking services reach every individual through responsible and transparent financial practices.
Munafa Digital Bank – A New Era in Islamic Finance
During the press conference, it was revealed that the new entity would be named Munafa Digital Bank — Bangladesh’s first fully interest-free, Shariah-compliant digital bank.
The bank’s central mission is to establish an ethical, transparent, and accountable banking model that ensures all customers can access comprehensive digital banking services without any service charges.
| Key Features of Munafa Digital Bank | Details |
| Compliance | 100% Shariah-based, interest-free operations |
| Service Model | Fully digital with no physical branches |
| Core Values | Ethics, transparency, and financial inclusion |
| Customer Benefit | No service fees on digital transactions |
| Goal | To empower every citizen through accessible and fair banking |
Officials from Akij Resources noted that this initiative represents a major milestone for Islamic finance in Bangladesh, blending technology with Shariah principles to create a fair, human-centric, and inclusive financial experience.
Taufiq Hasan, Chief Business Development Officer, commented: “We aspire to build a digital banking service open to everyone. With the power of technology, our goal is to bring every citizen under the umbrella of formal banking.”
Engr. Md. Firoz Kabir, Chief Digital and Innovation Officer, highlighted that Akij’s technology division is already developing the infrastructure for the banking system of the future.
“We are creating a platform that ensures banking is fast, simple, and user-friendly. Customers will be able to carry out all their financial activities without ever visiting a physical branch,” he said.
Also present at the press event were Mohammad Afsar Uddin, Chief People Officer of Akij Resources, and S.K. Md. Zayed Bin Rashid, Chief Executive Officer of iBOS Limited.
Industry observers believe Akij’s initiative could reshape the future of digital and Islamic banking in Bangladesh, fostering a model of ethical, accessible, and technologically advanced financial services aligned with global Shariah-compliant standards.