Dhaka, July 16 -- Bangladesh's National Pension Authority (NPA) is set to introduce an "Islamic version" of its universal pension scheme to increase its acceptance and uptake among the devout Muslims.

This initiative aims to launch Islamic compliant versions for all four existing schemes: Probash, Progoti, Shurokkha, and Somota.

To facilitate this, an international consultant has already been appointed with funding from the Asian Development Bank (ADB).

In addition to the Islamic versions, the authority is also exploring the inclusion of insurance benefits within the schemes and plans to bring bank employees, staff, and MPO-enlisted teachers and employees under the pension scheme's umbrella.

Sources within the NPA indicate that a sign...