LB Finance partners ADL Capital to expand Islamic Financial services
Monday, 27 October 2014 00:00
LB Finance PLC licensed by the Central Bank of Sri Lanka (CBSL) has earned a reputation for offering innovative product and services to the local financial industry. Many of the products on its portfolio are designed and structured to meet the needs of its clients spanning across the island. LB Finance’s Islamic Finance Unit ‘Al Salamah’ is one such strategic business unit of the company that offers a unique set of financial products and services to its customers.
Standing from left: ADL Capital Associate Director Azad Zaheed, ADL Capital Financial Analyst Thalha Ismail, ADL Capital Associate Director Sabri Abdul Cader, LB Finance Assistant General Manager, Credit & Operations Ainsley Motha, LB Finance Head of IT Chethana Kahandugoda, LB Finance Chief Financial Officer Hasitha Athapattu and LB Finance Head of Islamic Finance Zakir Saly
Assistant General Manager-Credit & Operations Ainsley Motha stated that the products offered by the Islamic Finance Unit are structured in a manner that complies with CBSL guidelines and is opened to all and is not specific to a particular market segment. He added, “LB Finance already manages huge portfolios of different Islamic finance products enjoying a substantial market share, we have been exploring the possibilities of expanding our Islamic Financial services further for a while now, however, in seeing that the demand for these products is on the increase in the recent times, we believe it is timely for the expansion to take place.” The Islamic Finance Unit has been in operations over the last four years.
ADL Capital Limited Associate Director Sabri Abdul Cader stated, “We are delighted to partner LB Finance in this endeavour. With the guidance and support from learned and reputed scholars, we are confident that LB Finance’s Al Salamah will deliver value and benefits to all its stakeholders going forward.”