Upcoming Services (IOESF)
Islamic Overseas Employment Support Fund (IOESF)
A large number of skilled and unskilled workers in Bangladesh secure legitimate overseas employment opportunities but cannot afford the migration costs. The IOESF aims to provide interest-free, Shariah-compliant financial assistance (based on Qard-Hasan and Murabaha models) to legally documented migrant workers.
This initiative helps them avoid debt traps, high-interest loans, and middlemen, allowing them to travel abroad through legal and ethical means.
Target Beneficiaries
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Legally documented workers with passport, visa, and BMET approval.
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Young men and women from low- and middle-income families.
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Initial target countries: UAE, Saudi Arabia, Oman, Qatar, and Malaysia.
Financial Framework (Shariah-Compliant Models)
Each worker may receive up to BDT 200,000–300,000 as a non-interest loan, with a nominal administrative charge.
The project may cover visa, ticket, and training costs and recover them through contractual repayment.
Repayment will be deducted in installments from workers’ salaries, in coordination with employers or labor ministries in host countries.
Vision Statement
When one worker goes abroad, a family changes.
But when he goes debt-free and interest-free — the entire society transforms.”
Expected Impact
✅ Increase in legal overseas employment opportunities.
✅ Promotion of social justice through interest-free financing.
✅ Alignment with the Government and MoEWOE Vision 2041.
✅ Growth in foreign currency inflow.
Implementation & Partner Institutions
In Bangladesh:
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Ministry of Expatriates’ Welfare and Overseas Employment (MoEWOE)
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BMET
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Probashi Kallyan Bank / BOESL
In Host Countries:
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Labor Ministries of UAE, Saudi Arabia, Oman, Qatar, and Malaysia
Pilot Plan (6 Months)
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Workers: 500 (UAE and Saudi Arabia)
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Loan Amount: BDT 250,000 per worker
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Repayment: 12 monthly installments, starting two months after employment
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Funding Sources: Zakat, Waqf, CSR funds, and partnerships with Islamic banks