The National Pension Authority (NPA) is set to introduce an “Islamic version” of its universal pension scheme to increase its acceptance and uptake among Muslims.
This initiative aims to launch Islamic-compliant versions for all four existing categories of the Universal Pension Scheme, namely:
- Probash (for Bangladeshis abroad),
- Progoti, (for those working in privately owned/non-government Institutions)
- Shurokkha (for the self-employed)
- Somota (for the self-employed living below the poverty line)
To facilitate the development, an international consultant has been appointed with funding from the Asian Development Bank (ADB), reported United News of Bangladesh, a news agency. The consultant has been tasked with planning the implementation of Islamic versions across all four NPA schemes.