Report topic: Marketing strategies of Al-Arafah Islami Bank Limited

Literature Review:

With a view to increasing transactions of Western Union, Al-Arafah Islami Bank Limited
executed promotional campaigns in Ramadan 2023, where every customer of Western Union
was given an umbrella during this campaign. In order to increase remittance volume, the division
has a plan to launch more promotional campaigns in 2024.

People living and working abroad remit their hard-earned money through Al-Arafah Islami Bank
Limited, to increase bank remittance and deposit ratio raise the standard of foreign remittance
customer services also maintain continuous touch with existing & prospective remittance clients.

All the people related to a bank in the society AIBL celebrated “Remittance Service Month -
2023” from 13 July 2023. Al-Arafah Islami Bank Ltd provided a 1% cash incentive against
account credit remittance with the bank which will 20 obtained by AIBL through the exchange
house with whom the bank has drawing arrangements.

AIBL has provided BDT 72.89lac as an additional 1% cash incentive with account credit
remittance with AIBL. 19842 new remittance accounts have been opened in the service month
(annual report, 2022). AIBL- BPMD (Business Promotion and Marketing Division) also
designed and developed different marketing tools, gift items, leaflets, and brochures for different
branches to maintain marketing relationships with current and old customers.

Al-Arafah Islami Bank Limited also provides a desk calendar, telephone index, and slip pad to
regular customers. Each morning AIBL senior managers sit for a meeting for marketing
planning. They target clients according to proper marketing research.