IDB signed an agreement with the Islami Bank Foundation (IBF) on 13 May 2008 for the implementation of the Fael Khair Agro-Inputs Program and IBF has received an amount of US$ 4.5 million as first tranche from IDB. Operating from 28 Unit Offices in the SIDR affected 12 districts of Bangladesh; IBF has disbursed the whole amount and is now recycling the fund.
Followed by another tranche, IDB and IBF signed another agreement on 26 July 2009 for the second tranche amounting to US$ 4.5 million.
The agreement between the IBF and the IDB has been extended by one additional year, thereby now ending on 25 July 2013.
Up to June 2012 IBF has disbursed BDT 2,961 million to 49,287 beneficiaries in 23 Upazillas of 12 districts with an overall recovery rate of 99.70%.