“Al-Arafah Islami Bank Mobile App: Diffusion, Challenges and

Opportunities”
An internship report submitted to the Department of Management in
partial fulfillment of the requirements for the award of the Bachelor of
Business Administration (BBA) in Management
Course Title: Internship
Course Code: MGT- 4000

Written by
Syeda Sadia Afrin
Student ID No.: 172102
BBA (Major in Management)Department of Management
Jashore University of Science and Technology,
Jashore-7408
Supervised by
Ruhul Amin
Assistant Professor
Department of Management
Jashore University of Science and Technology
Date of Submission: 28th February, 2023.
 Biography of Author

Syeda Sadia Afrin: Her BBA program in management studies from Jashore
University of Science and Technology, Bangladesh is running. Now she is
performing internship on Al-Arafah. She has completed her H.S.C from Govt. M.M
College,Jashore. She has completed her S.S.C from Govt. Girls’ High
School,Jashore. Her internship area is about Al-Arafah Islami Bank app.
 Acknowledgement

Firstly, I would like to give thanks to my Almighty Allah for giving me the ability
to complete the report within the specified time. I am also very thankful to my
honorable teacher and supervisor, Ruhul Amin, for his precious advice and
guidelines on how to complete my internship report in an appropriate manner.
Salahuddin Ahmed, AVP & Branch Manager
Md Abu Syed, Senior Principal Officer
Md Rajibul Islam, Principal Officer
Md. Moniruzzaman, Executive Officer
Rajia Sultana, Officer

Finally, I am grateful to all the people who support me by providing the necessary
information to prepare this report properly.
 Letter of Submission

28th February, 2023

Ruhul Amin
Assistant Professor
Department of Management
Jashore University of Science & Technology
Jashore-7408.
Subject: Submission of internship report on “Al-Arafah Islami Bank app;
Diffusion, Challenges and Opportunities.”
Dear Sir,
This is my pleasure to submit an internship report on the “Al-Arafah Islami Bank
app: diffusion, challenges, and opportunities” as a requirement of the internship
program. It was a great opportunity for me to acquire knowledge and experience as
to the general banking functions and procedures of Al-Arafah Islami Bank Limited.
I am hopeful that this knowledge and experience will be helpful in my future life.
May I, therefore, pray and hope that you would be kind enough to accept my attempt
and oblige me thereby?Sincerely yours

___________________________
Syeda Sadia Afrin
Student ID No. : 172102
BBA (Major in Management)
Department of Management
Jashore University of Science & Technology
 Letter of Approval

This is to certify that Syeda Sadia Afrin, a student of the BBA program under the
Department of Management at Jashore University of Science and Technology, has
completed the internship report under my supervision. She has completed the report
titled “Al-Arafah Islami Bank App: Diffusion, Challenges, and Opportunities” as a
requirement for obtaining a BBA degree. She has completed the report by herself.
She has been permitted to submit the report.

___________________________
Assist. Prof. Ruhul Amin
Department of Management
Jashore University of Science & Technology
 Disclaimer

This internship report is submitted as a requirement for the Bachelor of Business

Administration. I am Syeda Sadia Afrin, thereby declaring that the work presented
in this report, “Al-Arafah Islami Bank App: Diffusion, Challenges, and
Opportunities,” has been written by me and has not been previously submitted to
any other university, college, or organization for any academic purpose.

___________________________
Syeda Sadia Afrin
Student ID No. : 172102
BBA (Major in Management)
Department of Management
Jashore University of Science & Technology
 Executive Summary

Operating banking activities over the Internet via a mobile app is the great
achievement of modern banking systems. Using these mobile apps, clients can
perform banking activities without going to the branch physically. This report aims
at expressing the diffusion, challenges, and opportunities of Al-Arafah Islami Bank
Limited. The data and information in this report were collected from primary and
secondary sources, such as physical observation of the branch, conversation with the
officers and clients, banking websites, annual reports, articles, and the handbook of
Al-Arafah Islami Bank. The findings of the study show the challenges, opportunities,
and diffusion of the mobile banking app named Al-Arafah Islami Bank. This report
will help others acquire knowledge and information about the banking operation and
performance using the mobile app.

Key words: Al-Arafah Islami Bank app, Diffusion, AIBL.

 Table of Contents

Chapter One: Introduction

1.1. Background of the Study ...................................................................................................................... 14
1.2. Context ................................................................................................................................................. 14
1.3. Statement of problem.......................................................................................................................... 14
1.4. Scope of the study ............................................................................................................................... 15
1.5. Objective of the study .......................................................................................................................... 15
1.6. Limitations of the Study ....................................................................................................................... 16
1.7. Data and Methodology ........................................................................................................................ 16
1.8. Key Definitions ..................................................................................................................................... 17
1.9. Significance of the Study ...................................................................................................................... 18

Chapter Two: Literature Review and Company Profile

2.1. Literature Review ................................................................................................................................. 20
2.2 Definition of Islami Bank ....................................................................................................................... 20
2.3. Background of AIBL .............................................................................................................................. 21
2.4. Company Profile ................................................................................................................................... 23
2.5. Vision of AIBL ....................................................................................................................................... 24
2.6. Mission of AIBL..................................................................................................................................... 24
2.7.Core Values of AIBL ............................................................................................................................... 24
2.8. Commitments of AIBL .......................................................................................................................... 25
2.9. Achievement of AIBL ............................................................................................................................ 25
2.10. Special Features of Al-Arafah Islami Bank Ltd. .................................................................................. 26
2.11. Trend of Operating Profit of AIBL ...................................................................................................... 27
2.12 Economic Value-Added statement ..................................................................................................... 28
2.13. Organization Structure of AIBL (JASHORE BRANCH) .......................................................................... 29
2.14. AIBL departmentalization .................................................................................................................. 30
2.15. Functions of AIBL ............................................................................................................................... 31
2.16. Description Table of AIBL app ............................................................................................................ 33
Chapter Three: Project Work
3.1. Job at Al-Arafah Islami Bank Limited ................................................................................................... 35
3.2. Job description of Internship program ................................................................................................ 35
3.3. Al-Arafah Islami bank mobile app ................................................................................................... 35
3.4. Benefits of AIBL mobile app ............................................................................................................ 35
3.5. Strategies to increase the users of AIBL mobile app ........................................................................... 36

Chapter Four: Analysis and Findings

4.1. User level analysis of AIBL mobile app with Other Competitors ......................................................... 38
4.2. Survey Analysis of AIBL mobile app ..................................................................................................... 39
4.3. Challenges of AIBL mobile app ............................................................................................................. 41
4.4. Opportunities of AIBL Mobile App ....................................................................................................... 42
4.5. Key Findings ......................................................................................................................................... 42

Chapter Five: Conclusion, Recommendation and Implication

5.1. Conclusion ............................................................................................................................................ 45
5.2. Recommendation................................................................................................................................. 45
5.3. Implication ........................................................................................................................................... 46

Chapter Six: Learning From Internship Program

6.1. Leaning from Internship Program ........................................................................................................ 48

References .................................................................................................................................................. 50
Attachment…………………………………………………………………………………………………………………………………………51
 List of Tables and Graphs

Figure 1. Sources of data .......................................................................................17

Figure 2. opening financial information table ....................................................22
Figure 3. Company Profile Table .........................................................................23
Figure 4. Trend of Operating profit of AIBL bar chart ....................................27
Figure 5. Economic Value-Added statement .......................................................28
Figure 6. : Economic value added pie chart ........................................................28
Figure 7. Organizational structure of ALBL (Jashore Branch) .......................29
Figure 8. Functions of AIBL .................................................................................31
Figure 9. User level analysis of AIBL mobile app with Other Competitors bar
chart.........................................................................................................................38
Chapter One: Introduction
 1.1. Background of the Study

As a part of the Bachelor of Business Administration, the department of management

at Jashore University of Science and Technology assigned the students to complete
an internship program in any commercial organization. I started the internship
program at Al-Arafah Islami Bank Limited. My internship program started on
December 1, 2022, and ended on February 28, 2023. I was familiar with the general
banking, investment, and foreign exchange operations of AIBL at the Jashore
branch. I worked here according to the guidelines of my supervisor, Ruhul Amin,
assistant professor of the Department of Management at Jashore University of
Science and Technology. After that, I started to collect data and information for
completing my report.

1.2. Context

As part of the Bachelor of Business Administration program at Jashore University

of Science and Technology, the management department told the students to do an
internship at any business. I started the internship program at Al-Arafah Islami Bank
Limited. My internship program started on December 1, 2022, and ended on
February 28, 2023. I was familiar with the general banking, investment, and foreign
exchange operations of AIBL at the Jashore branch. I worked here according to the
guidelines of my supervisor, Ruhul Amin, assistant professor of the Department of
Management at Jashore University of Science and Technology. After that, I started
to collect data and information for completing my report.

1.3. Statement of problem

AIBL has changed the traditional banking systems and taken the modern banking
system using the internet recently. It provides the banking services using the internet
by mobile app. It is totally new for the customers and many people who operate their
banking activities physically. Most of the people are unknown about this app and
they are unable to use it. It is too much difficult for the illiterate people to use the
mobile app and unfortunately most of the rural people in Bangladesh are illiterate.
Besides this many branches like Jashore branch has no separate desk for operating
modern banking activities. It is a great problem for the clients.
 1.4. Scope of the study

In my internship period, I worked all the departments of AIBL at Jashore branch. I

have tried to learn the activities of all sectors. I worked at the department of general
banking, Investment, foreign exchange. I have to try to learn all regular activities. I
have learned them from the employees of the bank. This report has been contained
with six sections. The first section is about the introduction such as; background of
AIBL, context, Statement of problem ect. In addition, the next sections are about the
project work, key findings and analysis, conclusion, recommendation and
implications and learning from internship program.

1.5. Objective of the study

The fundamental objective of the report is to provide a critical analysis of AL-

Arafah Islami bank mobile app. The objective is divided into two categories.
Academic objective:
• To fulfill the requirements of BBA program.
• To gather the experience of working in an organization.
• To improve working and communicating skill.
• To learn the organizational rules, regulations and cultures.

Specific objective:
• To examine the diffusion of Al- Arafah Islami Bank Mobile App.
• To examine the challenges of Al-Arafah Islami Bank Mobile App.
• To examine the opportunities of A-Arafah Islami Bank Mobile App.
 1.6. Limitations of the Study

I can find some limitation of the study as an intern during my internship period.
Those limitations are following below:

• The time period of internship is only three months. It is not enough to gather proper
information and develop skills.
• Unavailability of recent information about modern activities.
• Higher security system of the bank because of the safety of the clients and bank.
Because of this it is difficult to collect information.
• The business of the bank employees is also a major limitation. Because of this it is
not always possible to learn the activities from them freely.
• Limited space or desk is one of the main limitations of an intern to work.
• Lack of proper feedback from the clients is also a major limitation.

1.7. Data and Methodology

The study is of the descriptive variety. This report's data was gathered from a variety
of sources. Those sources are primarily primary and secondary sources.
 Sources of data

Primary Sources:
Secondary Sources:
Face to face conversation with
employees Annual reports of AIBL
Face to face conversation with Websites of AIBL
clients Departmental handbooks
Coustomer survey Articles & Journals

Figure 1. Sources of data

1.8. Key Definitions

Islamic Bank:
According to OIC, “Islamic bank is a financial institution whose statues, rules and
procedures expressly state its commitment to the principles if Islamic Shariah and to
the banning of the receipt and payment of interest on any of its operations.”

Internet Banking:
Internet banking is a method of banking in which transactions are made
electronically by using the internet.

Mobile App:
A mobile app is a software program created for use on portable wireless computing
devices, such as smartphones and tablets, to carry out various tasks.
 1.9. Significance of the Study

Now we live in the modern era. As a result, the internet controls every activity. For
this reason, this study is very significant for different parties, such as the
government, students, researchers, ICT policymakers, etc. This study will depict
modern banking activities through the use of a mobile app., researchers, and
policymakers will benefit from this study. I hope this report will be very effective
and helpful for my career and also for others.
Chapter Two: Literature Review
and Company Profile
 2.1. Literature Review

The AIBL mobile app is an internet based service. Customers can transfer fund, pay
the credit bill and inquiry balance by it. It is a part of modern banking services.
People can use it from anywhere in the world via the internet.
Now it has become very popular because of its benefits. Especially the people of
young generation are very much interested about this rather than the traditional way.
It is time saving for the customers because anyone can make transactions through it
from anywhere in the world. But in traditional way customers must have to visit to
the Bank physically. Because of this, it is not only time saving but also cost saving.
It is also so easy to make transactions via the AIBL mobile app.
Besides this, there are also some risks and challenges. Information theft is one of the
great risks among them. Many hackers can steal user information. Most of the people
in Bangladesh are familiar with the traditional banking system. Most of them are
unknown about the AIBL mobile app. In fact the internet service in Bangladesh is
also not good to every area in Bangladesh. Those are the big challenges for the AIBL
mobile app.

2.2 Definition of Islami Bank

Islami Bank is a financial institution whose statutes, rules and procedures expressly
state its commitment to the principles of Islamic Shariah and to the banning of the
receipt and payment of interest on any of its operations.
-Provided by OIC
 2.3. Background of AIBL

Alhamdulillah. Islam is a full way of life that Allah (swt) has provided. Its primary
objective is to achieve welfare and prosperity in this life as well as release and
success in the next. Al Arafah Islami Bank Limited's voyage is intended to liberate
the earth and the hereafter in the manner advised by Rasulullah (PBUH) according
to the way of life provided by Almighty Allah. The public limited company Al
Arafah Islami Bank Limited was established on June 18, 1995, with the motto "A
unique mix of Shari'ah and modern banking." With the opening of the Motijheel
branch in the capital on September 17, 1995, the bank's official operations got
underway. A full-fledged Islamic bank with 100 percent domestic ownership is
called Al-Arafah Islami Bank Limited. It is a premier commercial bank in
Bangladesh that is founded on Islamic Shari'ah. The current tagline "Always
Shari'ah" has no counterpart in the true service category than Al Arafah Islami Bank
Ltd. Al Arafah Islami Bank Limited is committed to putting into practice the noble
objective of offering all citizens of the nation banking services that are compliant
with Shari'ah. All of its banking operations follow Shariah law and are fully interest-
free. With the obligation of making a significant contribution to the national
economy and socioeconomic development, it is advancing successfully.
Alhamdulillah. For the effective accomplishment of this goal, Al Arafah Islami Bank
Limited has a team of qualified human resources in addition to the bank's clever
management authority, which combines efficiency and accuracy.
The bank's founders and directors are a number of well-known Christian
entrepreneurs. A. Z. M. Shamsul Alam, the organization's founding chairman, is a
prominent Islamic economist, writer, and former secretary of the People's Republic
of Bangladesh government. This bank has been created thanks to the efforts of
others. Additionally, all of this bank's banking operations are carried out entirely
interest-free, and an effective Shari’ah Supervisory Committee, which is led by
renowned academics, lawyers, and economists, oversees them all. .
 Subject Opening (As 31.12.1995) As on (31.12.1995)

Authorized Capital 100.00 Cr. 1,500.00 Cr.

Paid up Capital 10.12 Cr. 1,064.90 Cr.

Statutory Reverse --- 1,064.90 Cr.

Total Equity 10.12 Cr. 2,402.55 Cr.

Number of Branches 05 201

Number of Employees 54 4247

Deposit 20.14 Cr. 38,088.52 Cr.

Investment 1.24 Cr. 33,609.60 Cr.

Source: Finance and Accounts Division (FAD)

Figure 2. opening financial information table

 2.4. Company Profile

Name of the company Al-Arafah Islami bank Limited

Nature of Business A public limited company

registered in Bangladesh on 18th
June 1995, under the companies
ACT 1994 and enlisted in Dhaka
Stock Exchange Ltd &
Chittagong Stock Exchange Ltd.

Registered office Head office, Al-Arafah Tower,

63, Purana Paltan, Dhaka_1100,
Bangladesh.

SWIFT Code ALARBDDH

E-mail mailto:info@aibl.com.bd

Webpage http://www.al-arafahbank.com

Auditors Hoda Vasi Chowdhury Chartered

Accountant BMTC Bhaban
Level-8, 7-9, Kawran bazaar, Dhaka-
1100 Siful Shamsul Alam
Chartered Accountant
ParamountHeights, Level-6 (Box
Culvert Road) 65, 2/1 Purana Paltan
Dhaka-1100.
Source: Al-ArafaIslami Bank Limited

Figure 3. Company Profile Table

 2.5. Vision of AIBL

To lead Islami banking in Bangladesh and greatly advance the development of the
national economy.

2.6. Mission of AIBL

• Obtaining Allah's satisfaction in this life and the next.

• The growth of Islamic banking practices. providing top-notch financial services
while utilizing cutting-edge technology.
• Customer service that is quick and effective.
• Upholding a strict code of business ethics.
Growth that is balanced.
• Consistent and competitive return on equity for shareholders.
• Competitively priced, innovative banking. • Find and keep talented human
resources.
• Offering the Employees attractive remuneration packages.
• A strong dedication to the expansion of the national economy.
• Expanding the funding of SMEs and microbusinesses.

2.7.Core Values of AIBL

* The guiding principles of our culture serve as the basis for the AIBL ideals, which
are subsequently brought to life in our actions and attitudes. Our values set us apart
from others and are founded on the following five core notions: * Excellence: There
are many options available to clients in the market where AIBL operates, which is
getting more competitive.
* Integrity: Trust is essential for AIBL success. Society as a whole expects us to act
in a way that upholds high moral standards and professional standards. * Focus on
the customer: AIBL must completely comprehend the needs of their clients and
modify our products and services to satisfy those needs.
* Meritocracy: AIBL adheres to the principle of providing opportunities and
advantages to its employees based only on their performance.
* Progression: AIBL is committed to the advancement of society through the use of
cutting-edge business practices, inventive new products, and cutting-edge
manufacturing techniques.

2.8. Commitments of AIBL

• To maintain our position as a leading Islami Bank in Bangladesh, ours is a modern,

customer-focused Islamic banking model with consistent growth in both deposit
mobilization and quality investment.
• To provide financial services to corporate clients, small and medium-sized
businesses, and retail customers with a personal touch through our offices all across
the nation.
• To always coordinate our business ambitions with the clients' dynamic industrial
business needs.
• To provide goods and services that are valuable to the clients.
• To operate under a well established risk tolerance threshold.

2.9. Achievement of AIBL

Already, as a contribution of this bank in the field of Islamic finance and banking,
in 2012 and 2013 based on the CAMELS rating of financial institutions, in view of
its ability to demonstrate capital adequacy, strong asset protection, efficient
management, achieving unexpected profits, preserving liquidity and market
sensitivity, Al- Arafah Islami Bank Limited has been awarded the 'Best Rated Bank
2012' award by the economic weekly 'The Industry'. Also, in recognition of
contribution to Shari'ah based banking in 2013, 2014 and 2015, Institute of Cost and
Management Accountants of Bangladesh (ICMAB) Al-Arafah Islami Bank Link
was awarded 'Best Corporate Award, 2013' in the Private Commercial Bank (Islamic
Operation) category. Awarded 'Best Corporate Award 2014' and 'Best Corporate
Award 2015'. Al-Arafah Islami Bank Ltd. has received ICICI Bank's 'Excellent
Bank Award' for outstanding success in foreign trade in the financial year 2015-
2016. Moreover, the bank's contribution to Islamic economics and banking has
demonstrated its ability to achieve capital adequacy, strong asset protection, efficient
management, windfall profitability and market sensitivity through Moody's rating of
international standards of financial institutions. This is the first time that any
Bangladeshi Islamic Bank has achieved Moody's rating. In addition, in 2018, the
Institute of Cost and Management Accountants of Bangladesh (ICMAB) awarded
Al-Arafah Islami Bank Limited with the 'Best Corporate Award' in recognition of
its unique contribution to Shari'ah-based banking.

2.10. Special Features of Al-Arafah Islami Bank Ltd.

• All activities of the bank are conducted according to Islamic Shariah where profit
is the legal alternative to interest. • The bank’s investment policy follows different
modes approved by Islamic shariah based on the Qur’an & Sunnah.
• The bank is dedicated to developing a banking system that prioritizes social
welfare, economic improvement for those with low incomes, and the creation of
employment possibilities. • According to the need and demand of the society and the
country as a whole the bank invests money to different ‘Halal’ business. The bank
participates in different activities aiming at creating jobs, implementing
development projects of the government and creating infrastructure.
• The bank is dedicated to creating a financial system that promotes social justice
and an equal distribution of wealth. Through a microcredit program and the funding
of SME's, it is dedicated to bringing about change in the undeveloped rural areas in
order to ensure the balanced socioeconomic growth of the nation.
• The depositors are partners in the bank's investment revenue, according to the
Mudaraba system. The Mudaraba depositors receive a share of the investment
revenue that amounts to about 70%.
•To improve customer services while promoting institutional harmony and the
brotherhood, peace, and fraternity that are important to Islam. The bank supports
both commercial and charitable endeavors. These include the AIBL English Medium
Madrasah, the AIBL library, and the Al-Arafah Islami Bank Foundation Kidney
Dialysis facility that the Bank uses.

2.11. Trend of Operating Profit of AIBL

Trend of Operating Profit

900

800

700

600

500

400

300

200

100

-100

-200

Operating Profit Growth (Amt)

Source: Business Development Conference Paper 2023

Figure 4. Trend of Operating profit of AIBL bar chart

 2.12 Economic Value-Added statement

Particulars 2021 2020

Shareholders’ Equity 25,900.33 25,455.85
Total Income 27,696.18 29,986.74
Total Expenses 20,202.04 23,298.97
Corporate Charge 2,712.12 2,228.06
Capital Charge 1,597.35 1,597.35
Economy Value Addition 3,184.67 2,862.36
(BDT in million)

Figure 5. Economic Value-Added statement

Economic Value-Added statemment

Capital Charge
3%
Corporate Tax
5%

Total Income Total Income

Total Expenses
39% 53% Total Expenses
Corporate Tax
Capital Charge

Source: Annual report of AIBL 2021

Figure 6. : Economic value added pie chart

*Capital Charge = Paid up Capital x Percentage of Dividend

 2.13. Organization Structure of AIBL (JASHORE
BRANCH)
Assistant Vice President

Sr. Principal Officer

Principal Officer
Principal Officer Principal Officer

Senior officer Senior officer Senior officer Senior officer

Officer Officer Officer Officer Officer

Probationary Officer Probationary Officer Probationary Officer Probationary Officer

Probationary Officer

Asst. Officer Grade ∣ Asst. Officer Grade ∣ Asst. Officer Grade ∣ Asst. Officer Grade ∣ Asst. Officer Grade ∣

Asst. Officer Grade ∥ Asst. Officer Grade ∥ Asst. Officer Grade ∥ Asst. Officer Grade ∥

Asst. Officer Grade III Asst. Officer Grade III Asst. Officer Grade III Asst. Officer Grade III

Figure 7. Organizational structure of ALBL (Jashore Branch)

 2.14. AIBL departmentalization

The business is set up like a "Pyramid." The managing director is the leader. He is
supported by two Deputy Managing Directors, each in charge of three wings, and
one Additional Managing Director. Each wing has a number of departments and
divisions. The hierarchy's chain of command is unmistakably established. The
managing director is the immediate supervisor of the divisional and wing heads. The
activities of the several wings are described as follows:
Operations Wing: Under the direction of an Additional Managing Director, this
wing oversees all General Banking operations and branch management.
Investment Wing: Under the direction of a Deputy Managing Director, this wing
reviews investment requests received from various divisions, evaluates them, and
seeks the appropriate authority's permission. This division is in charge of keeping an
eye on the bank's investment portfolio.
Division of Audit: This division is in charge of the Bank's comprehensive audit and
inspection.
Division of Human Resources: This division is in charge of hiring, training,
posting, promoting, and compensating personnel.
Division of Financial Administration: This division is in charge of maintaining the
Bank's records and accounts.
Division of Establishment and Common Services: All Engineering and
Establishment Works,
 2.15. Functions of AIBL

Customers receive services from conventional and Islamic banks that are essentially
equivalent. Regarding methods of determining the incentive or the cost of the capital,
there are distinctions between the administration of incentives for depositors and
charging for capital investments. Like a typical bank, AIBL provides loan advances
and welcomes client deposits. The bank invests in both short-term and long-term
deposits. the three major types of jobs that AIBL performs.

1. General banking
2. Investment
3. Foreign Exchange

General
Banking

Banking

Foreign
Investment Exchange

Figure 8. Functions of AIBL

 General Banking
All commercial banks' general banking section has the biggest impact on the
industry. Mostly, the liability side. The General Banking division of AIBL operates
in the manner described below: One must complete an account opening form in order
to open an account. This document serves as a binding contract between the bank
and potential clients. The laws and guidelines If a customer wants to open various
sorts of accounts, the process of opening an account varies from customer to
customer. First and foremost, different types of customers, including individuals,
joint ventures, proprietorships, partnerships, private limited companies, public
limited companies, associations, clubs, societies, and trusts, among others, can open
their various types of accounts in accordance with the requirements listed below:
1. Al Wadiah Current Deposit (CD)
2. Mudaraba Savings Deposit (MSD)
3. Mudaraba Term Deposit (MTDR)
4. Monthly Installment Based Term Deposit (ITD)
5. Mudaraba Short Notice Deposit (SND)
6. Mudaraba Double Deposit (MDD)
7. Mudaraba Lakhpoti Deposit Scheme (LDS)
8. Mudaraba Millionaire Deposit Scheme (MMDS)
9. Mudaraba Kotipoti Deposit Scheme (MKDS)
10. Al-Arafah Monthly Hajj Deposit (MHD)
11. Pension Deposit Scheme (PDS)
12. Mudaraba Double Benefit Deposit Scheme (MDBDS)
And Continuing- Al-Arafah Termed Haj Deposit (THD), Monthly Installment Based
Marriage Savings Investment Scheme (MIS), Al-Arafah Savings Bond (ASB),
Foreign
Currency Deposit (FCD), Cash Waqf Deposit Scheme (CWD), Mudaraba (Special)
Pension Deposit Scheme (MSPDS).
 Investment
In conformity with The Shariah, AIBL invests its funds in a variety of ways with the
primary goal of eradicating poverty by creating jobs. The investing options for AIBL
are following below:

Bai-Modes: Bai-Murabaha, Bai-Istijrar, Bai-Muajjal, Bai Salam, Istisnaa and Bai-

As-Sarf.
Share-Modes: Mudaraba and Musharaka.
Ijara-Modes: Hire Purchase under Shirkatul Melk.

Foreign Exchange

Maintaining FC liquidity on behalf of the branches for imports, exports, remittances,

and other foreign exchange receipts and payments is the primary responsibility of
the foreign exchange desk.

2.16. Description Table of AIBL app

Name of the app Activities Benefits of the app Review rating

Activies

AL- Arafah Islami Fund Customers can operate 4.5 star amog 5 star
Bank App Transfer banking activities from and 732 reviews
any place in the world.
Credit-bill
Payment Easy transaction.

Balance inquiry
Time saving.
Chapter Three: Project work
 3.1. Job at Al-Arafah Islami Bank Limited

I had been working at Al-Arafah Islami Bank from December 1, 2022, to February
28, 2023. My branch was on M.K. Road, in Jashore. There were mainly two sectors
for internships: the general banking sector and the investment sector. I worked in
both of the sector in my internship period.

3.2. Job description of Internship program

My responsibilities include opening, updating, and closing accounts; scanning

documents; delivering checks; preparing deal sheets and other dealing documents;
dealing and communicating with customers; and other related works.

3.3. Al-Arafah Islami bank mobile app

The AIBL app is a software application through which customers can conduct
banking activities using the internet.

3.4. Benefits of AIBL mobile app

AIBL's mobile app is one of the most unique modern banking services. There are
many benefits to the AIBL mobile app. They are following these steps:
• Time saving:
Customers can make their transaction from any place in the world at any time. It
saves their time from physically visit.
• Easy transaction:
It is easy to make transaction by AIBL mobile app. If customers can register at it
he/she can easily use it.
• Cost saving:
It saves many institutions considerable money from their customers. It is a great
benefit for the customers.
• Clarity of financial information:
By this AIBL mobile app users can know about the financial information clearly.

3.5. Strategies to increase the users of AIBL mobile app

AIBL can follow some strategies to increase the number of users of its mobile app.
They are listed below:
• Increasing the publicity of the AIBL mobile app in every area of Bangladesh, both
urban and rural,
• Arranging IT related programs, fairs, and seminars more and more.
• Providing an IT related separate service desk for the customer so that they can get
this type of service easily
• Increasing customer involvement from traditional banking to modern banking
Chapter Four: Analysis and Findings
 4.1. User level analysis of AIBL mobile app with Other
Competitors

Users

500,000
100,000

100,000
50,000

50,000

50,000
AIBL I.BANKING SIBL NOW IBBL ISMART AGRANI SMART SJIBL.NET JANATA BANK
BANKING APP

Figure 9. User level analysis of AIBL mobile app with Other Competitors bar
chart

Currently, the AIBL mobile app has 50,000 users. Because AIBL just launched this
service, there aren't many users yet. Among all of them, IBBL has a sizable user base
for its mobile app. Both SIBL and AGRANI Bank have the same 100,000 customers.
The same 50,000 users are customers of AIBL, SJIBL, and JANATA bank AIBL,
with its sizable user base for its mobile app, is leading the market in terms of
customer numbers . AIBL's market dominance is further evidenced by its 50,000
customers compared to the 100,000 customers of SIBL and AGRANI Bank .
 4.2. Survey Analysis of AIBL mobile app

It is important to understand the customer opinion about AIBL mobile App. I use a
likert scale to conduct questionnaire surveys during the internship duration. Below
are some analysis of that:

Q1: AIBL mobile app helps me to save time.

Table 1:
Strongly Disagree 0 0%
Disagree 1 15%
Neutral 3 25%
Agree 12 50%
Strongly Agree 4 10%
Total Respondents 20 100%

Q2: AIBL mobile app helps me to save money.

Table 2:
Strongly Disagree 0 0%
Disagree 2 10%
Neutral 5 25%
Agree 10 50%
Strongly Agree 3 15%
Total Respondents 20 100%
Q3: Using AIBL mobile app is easy to me.
Table 3:
Strongly Disagree 0 5%
Disagree 0 15%
Neutral 5 25%
Agree 13 45%
Strongly Agree 2 10%
Total Respondents 20 100%

Q4: I am satisfied with the facilities of AIBL mobile app.

Table 4:
Strongly Disagree 3 15%
Disagree 6 30%
Neutral 7 35%
Agree 2 10%
Strongly Agree 2 10%
Total Respondents 20 100%

Q5: AIBL mobile app provides up to date and proper financial information
rapidly.
Table 5:
Strongly Disagree 1 5%
Disagree 2 10%
Neutral 8 30%
Agree 8 50%
Strongly Agree 1 5%
Total Respondents 20 100%
Q6: I am interested to use AIBL mobile app.
Table: 6
Strongly Disagree 1 5%
Disagree 4 10%
Neutral 8 30%
Agree 5 40%
Strongly Agree 2 15%
Total Respondents 20 100%

4.3. Challenges of AIBL mobile app

AIBL also faces some challenges for the AIBL mobile app service. The challenges
are following below:
 Lack of popularity:
Most of the people are unknown about the AIBL mobile app. They don’t know how
to use it.
 Information Theft:
There has a great chance to theft of information of the users by hackers. It is a big
challenge for AIBL.
 Poor internet service:
The internet service in Bangladesh is not good in every area, especially in rural areas.
It is also challenging for AIBL.
 Popularity of Competitors:
Popularity of competitor’s app is also a big challenge for AIBL mobile app.
Specially IBBL has a large number of user of its mobile app. It has 5,00,000 mobile
app user.
 4.4. Opportunities of AIBL Mobile App

Along with its difficulties, the ALBL mobile app also offers certain advantages.
The possibilities are as follows:
Unique Features:
The AIBL mobile app includes a lot of special features, which helps it become
popular with users.
Popularity among young people:
Young people, in particular, are extremely interested in modern banking systems
rather than conventional banking systems. One excellent opportunity for the AIBL
mobile app is this.
Good customer relations:
AIBL staff members consistently work to sustain positive customer relations. A
big chance exists for the AIBL mobile app as well.

4.5. Key Findings

After analyzing the overall data and information, some key findings have been
marked from the study. They are following here:

In Bangladesh, both the selection and public knowledge of i-banking are

expanding daily.
 The users are increasing every year. Especially young people are very interested
to conduct their banking activities through the mobile app.
AIBL is improving their internet based services day by day.
AIBL is trying to improving their modern banking services rather than the
traditional services.
Unawareness among the people in the main problem in Bangladesh in this sector.
They are not familiar with the mobile app services.
Security risk is one of the main challenges in this sector.
Transaction through mobile app is increasing every year.
AIBL is trying to improving their performance by training of the employees.
AIBL is well prepared to provide these services to the customer every time.
Chapter Five: Conclusion,
Recommendation and
Implication
 5.1. Conclusion

This study demonstrates the benefits of offering mobile app services. In this service,
AIBL is quite new. But thanks to its cutting-edge goods and services, it has earned
goodwill. Technological advancement has made this possible. The bank is making
effective and efficient efforts to keep up with this technological innovation. The
biggest issues, however, are public ignorance, substitute services, and security
threats. Internet-based services are expanding quickly these days. But not all areas
in Bangladesh have good internet service. Therefore, government should take action
to boost internet bandwidth so that everyone can use the mobile app to conduct their
banking activities and receive this service.

5.2. Recommendation

After working three months I find some lacking of AIBL. I think AIBL need to
consider these matters for improving their services. They are following below:

• To compete with the other competitors, it is imperative to offer more services.

Because its rivals offer a wide range of replacement services. • AIBL should provide
IT based training so that the employees can provide the better services.
• AIBL should arrange public awareness program because most of the people of
Bangladesh does not know about i banking.
• Minimizing the gap between the employees and the customer is must. It is very
important to increase the customer trust on the bank.
• There has no separate IT service desk at AIBL. It is a main barrier to provide better
services to the customers. The separate desk for these services must have to be
opened immediately.
• Improving the banking technology is compulsory now.
• Increasing the advertisement of AIBL Mobile app more and more.
• The management needs to act quickly to seize the chances that are available.
 5.3. Implication

The implication of using AIBL mobile app is positive in Bangladesh. Today’s world
is totally IT based. So, it is a great system to provide banking services rather than
the traditional services. The experts and policy makers hope that this will lead the
country’s economic growth. These services minimize the cost and save the time of
the people. Mainly young generation is very must interested about this. So, it is
possible to expand the mobile app services in Bangladesh. It can be opened a new
door for AIBL.
Chapter Six: Learning From
Internship
 6.1 Leaning from Internship Program

Gaining experience is the goal of the internship program. I worked as an intern at

Al-Arafah Islami Bank Limited. I have learned a lot in the past three months. These
are listed below :

I have learned about the Historical background of AIBL.

I have learned about the Shariah rules and regulations of Islam.
I have learned about the Islami economic system.
I have learned about the objectives, mission, and vision of AIBL.
I have learned about the difference between Islami bank and other commercial
banks.
I have learned about the different between interest and profit.
I have learned about the marketing strategy of AIBL.
I have learned about the deposit mode and scheme of AIBL.
I have learned about the investment mode and scheme of AIBL.
I have learned about the General banking, Investment and Foreign exchange
operations of AIBL.
I have learned about how to open current, savings and fixed deposit account.
I have learned about how to issue check, pay order and ATM card.
I have learned about how to open, update and close account.
 I have learned about how to prepare the deal sheet for investment.
I have learned about how to scan and print out a document.
I have learned about how to deal with different type of people.
I have learned about how to work with co-workers.
I have learned about how to follow and maintain the rules and regulations of
an organization.

I hope this report may show the guideline for the bank and also helpful for the
researchers and students. I have also gain a lot of knowledge from this internship
program. This real-world experience should be highly beneficial for achieving my
long-term objective.
References
AIBL. (2020,2021). Annual Report of AIBL.
AIBL. (2021). A Journal of Islamic Banking.
AIBL. (2023). Business develpoment conference .
AIBL. (n.d.). SHARIAH MANUEL.
http//www.al-arafahbank.com. (n.d.).
Kotler, P. (n.d.). Marketing Management.

Publications:
Several Booklets from AIBL.
Several Newsletters from AIBL.

Website:
http//www.al-arafahbank.com
Attachment:

Questionnaire (open-ended):
1. What do you know about Al-Arafah Islami bank mobile app?
2. Are you interested about using Al-Arafah Islami bank mobile app?
3. Do you know how to use Al-Arafah Islami bank mobile app?
4. Are you satisfied by the service of Al-Arafah Islami bank mobile app?
5. Do you have any objection about the service of Al- Arafah Islami bank mobile
app?
6. Do you have any suggestion about the service of Al-Arafah Islami bank mobile
app?