Amãna Bank’s Gold Certificate financing offers up to Rs. 70,000 in emergency cash

Monday, 8 March 2021 00:07 - - {{hitsCtrl.values.hits}}

With the aim of helping those affected by the COVID-19 pandemic towards the Government’s Restart Sri Lanka initiative, Amãna Bank’s Gold Certificate Financing now facilitates an increased amount in emergency cash, where customers can obtain up to Rs. 70,000 per 22 karat Gold Sovereign by pledging their Gold Safekeeping Certificate.

Introduced as a non-interest-based alternative for conventional pawning, Amãna Bank’s award-winning Gold Certificate Financing solution is aligned with the Bank’s strategic focus on reaching out to the un-Banked under-banked segments of the market. It is also aligned with economic needs of the country to facilitate convenient credit at the grass root levels to help fund agriculture and other small industries.

Customers pledging their Gold Safekeeping Certificate can obtain a zero-cost loan with a credit period of up to 12 months, where at maturity the customer is required to only pay the borrowed loan amount without any additional payments. To further understand this financing solution, customers are invited to watch an infomercial video available on bit.ly/AB_EmergencyCash.

Commenting on the product solution the Bank’s Head of Retail Advances Ramakrishnan Kirubakaran said, “During these unprecedented times many are facing difficulties and as a people-friendly bank we understand their predicament for which we have increased our Gold Certificate Financing Emergency Cash amount to benefit their emergency financial requirements.”

Amãna Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest-based people-friendly banking model.

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries.