Amãna Bank Lead Banking Partner for IFFSA 2017

Monday, 23 October 2017 00:00 - - {{hitsCtrl.values.hits}}

For the second consecutive year Amãna Bank has come forward to sponsor the Islamic Finance Forum of South Asia (IFFSA) as its Lead Banking Partner. The second edition of this regional conference is scheduled to take place on 24 October at Ramada, Colombo and will discuss the opportunities and challenges on how the non-interest based banking industry can expand its footprint across the South Asian region, which has a large demand for Islamic Banking and Finance.

Amana Bank Senior Vice President Corporate and SME Banking M.M.S. Quvylidh handing over the cheque to UTO Group of Companies Group Executive Director Aakif Wahab

Commenting on this partnership, the bank’s Chief Executive Officer Mohamed Azmeer said, “As the pioneers of Islamic banking in Sri Lanka, we are honoured to once again partner with IFFSA as this would be an ideal platform to engage in learning knowledge and expertise to drive the industry forward. This forum would also give the opportunity for Sri Lanka to showcase its potential as a hub for Islamic Banking and finance for the entire region.”

Other than the representation from the Sri Lankan Islamic Banking and Finance industry, the forum would also witness representatives from India, Pakistan, Bangladesh and Maldives. The forum will address key topics such as leveraging the potential that a $ 500 million market offers, fin-tech and its impact on the IBF industry, rediscovering the essence of Islamic Banking, the role of non-banking finance institutions in complementing mainstream banks and funding infrastructure and SMEs via IBF instruments.

Amãna Bank is the country’s first Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based banking model. With the mission of Enabling Growth and Enriching Lives, the bank reaches out to its customers through a growing network of 28 branches and 4000+ ATM access points and has introduced an array of customer conveniences such as Internet and Mobile Banking, Debit Card with SMS alerts, Online Account Opening, 365 Day Banking, Saturday Banking, Extended Banking Hours, 24x7 Cash Deposit Machines and Banking Units Exclusively for Ladies.

Fitch Ratings, in October 2017, affirmed the bank’s National Long Term Rating of BB(lka) with a Stable Outlook. The bank was recognised as the Best ‘Up-and-Comer’ Islamic Bank of the World by ‘Global Finance Magazine’ at the 18th Annual World’s Best Banks Award Ceremony held in Washington DC, USA. The bank was also bestowed the coveted title ‘Islamic Finance Entity of the Year’ at the inaugural Islamic Finance Forum of South Asia Awards Ceremony.