Amana Investments wins Global Islamic Banking Award

Friday, 4 March 2011 03:55 - - {{hitsCtrl.values.hits}}

For the second year running, Amana Investments won the ‘Best Islamic Bank in Sri Lanka’ Award for 2010 at the Global Islamic Finance News poll conducted by the Malaysia – based REDmoney Group.

The winning of this award for two consecutive years reflects Amana’s clear leadership position in the field of Islamic Finance in Sri Lanka.

The Islamic Finance news awards are the most transparent, definitive and competitive awards poll designed to honour the very best in the global Islamic finance industry. The Islamic Finance news survey prides itself on being the only comprehensive and unbiased guide to the leaders within the Islamic finance industry, as it is voted by the public.

In addition to organising the Islamic Finance news poll, The REDmoney Group publishes the leading and widely circulated Islamic Finance industry journal which captures the significant events and activities that take place in the field of Islamic financial services, worldwide.

Winners of the Islamic Finance news Poll received their prestigious awards at the Shangri La Hotel in Kuala Lumpur on February 24, 2011.

Receiving the award in Kuala Lumpur, Amana’s Head of Consumer Banking and Branch Operations, M.M.S Quvylidh, said: “It is indeed a privilege for us to have won this international award for the second time. Such awards truly reflect our prominence in the global Islamic finance industry. I would like to thank our staff and loyal customers for this achievement”

Amana Investment Limited pioneered Islamic Finance in the country and since its launch in 1997 has been working towards a commercial banking license. As a result of this pursuit The Monetary Board of the Central Bank of Sri Lanka with the approval of the Minister of Finance President Mahinda Rajapakse, conferred a commercial banking license on Amana Bank recently.

The assets and liabilities of Amana Investments will be appropriately acquired by Amana Bank which will commence business during the course of this year and will be Sri Lanka’s first licensed commercial bank to conduct all its business operations in complete harmony with the principles of Islamic Banking.