Al-Falaah, the Islamic Business Unit (IBU) of Lanka ORIX Finance PLC (LOFC), bagged the prestigious Silver award in the ‘Financials – Diversified Services’ category at the 2011 League of American Communications Professionals (LACP), Vision Awards.
Al-Falaah won this award for their 2010/2011 Annual Review titled “Values Generate Value”. This winning report was also placed among the Top 25 Sri Lankan Annual Reports for the year in review.
At a gala, felicitation ceremony organised by Smart Media Pvt. Ltd. – The Annual Report Company, Krishan Thilakaratne, Chief Executive Officer of Al-Falaah, received this prestigious award from Chief Guest, Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka.
Speaking about this significant win, Thilakaratne said: “Al-Falaah’s win at the 2011 LACP Vision Awards is not only a tremendous achievement for this young business unit, but a tremendous honour for the LOLC Group as well. Al-Falaah has become a notable trend setter in the Sri Lankan Islamic Financial sector, capturing the hearts of its customers through its innovative, personalised and most importantly, Shari’ah compliant financial product offering. Through our island wide, strategic foot print, we have made available our broad based Islamic Financial Services to individuals and businesses of all segments.” During the previous years, Al-Falaah bagged consecutive Bronze Awards for their annual reviews for 2008/09 and 2009/10, and this year’s award has proven that Al-Falaah is on steady rise to fame.
Al-Falaah has obtained special approval to function within the regulatory framework of LOFC – a Registered Finance Company under the Monetary Board of the Central Bank of Sri Lanka. All Islamic financial activities of Al-Falaah are supervised by a dedicated Shari’ah Supervisory Board (SSB) chaired by industry leading local and international eminent Shari’ah scholars.