Prime Bank Investment Ltd (PBIL), a leading investment bank and a wholly owned subsidiary of Prime Bank PLC, has signed a Memorandum of Understanding (MoU) with IFA Consultancy Ltd. (IFAC), a premier Shariah advisory firm, to jointly promote Islamic investment in Bangladesh.
The signing ceremony took place at PBIL's headquarters, with Syed M Omar Tayub, Managing Director and CEO of PBIL, and Mufti Abdullah Masum, CSAA, Founder and Director of IFAC, signing on behalf of their respective organisations.
This strategic partnership aims to advance Shariah-compliant investment management services by combining PBIL's portfolio management expertise with IFAC's Shariah advisory capabilities.
The collaboration will cover key areas such as training and capacity building, Sukuk advisory, Shariah index development, product structuring, Shariah supervision and review, and research and publications.
Notably, last year, PBIL launched the country's first-ever Shariah-compliant capital market investment scheme, titled PrimeInvest Shariah.
This collaboration is part of PBIL's #AccessToInvestment initiative, which seeks to make Shariah-compliant investment options more accessible.
