Upay Signs Strategic Partnership with Al-Arafah Islami Bank in Bangladesh

Upay, the digital financial services subsidiary of United Commercial Bank PLC, signed a partnership agreement with Al-Arafah Islami Bank PLC to expand digital financial services across Bangladesh. Under the deal, customers will receive international remittances directly into their upay wallets. The partnership also enables Add Money and Fund Transfer services between Al-Arafah Islami Bank's Islamic Wallet and upay.

Customers will gain access to Shari'ah-compliant Islamic DPS services through the integration. Financial terms were not disclosed. The agreement connects a mobile financial services platform with an Islamic banking institution to broaden digital access in Bangladesh.