Janashakthi Finance leads way in Islamic Finance excellence at IFFSA Awards

Janashakthi Finance Head of Alternative Finance Business Unit M. Jowfer Farook (left) receives the award. Branch Officer in Charge Mohammed Rizly Mohammed Rifaz is also present 

Acting Chief Executive Officer Sithambaram Sri Ganendran

Head of Channels Saminda Ratnayake

Marking a powerful moment of recognition on the regional stage, Janashakthi Finance PLC, formerly known as Orient Finance PLC and a subsidiary of JXG (Janashakthi Group), has secured a Merit Award at the 10th International Islamic Finance Forum South Asia (IFFSA) Awards 2025. The accolade, awarded in the highly competitive category of ‘Islamic NBFI Window/Unit of the Year 2024/2025’, positions Janashakthi’s Alternative Finance Business Unit (AFBU) as one of the most dynamic and forward-looking Islamic finance divisions in South Asia. More than just an industry nod, this achievement highlights Janashakthi Finance’s emergence as a purpose-led force in ethical and inclusive financial innovation. 

The AFBU was established in 2021 with a bold vision to deliver Shariah-compliant financial services that go beyond compliance and genuinely serve communities across all backgrounds. The unit was built to bridge the gap between faith-based finance and real-world financial empowerment. Since its inception, it has carved out a unique identity in Sri Lanka’s financial sector by staying true to Islamic finance principles while responding to modern financial needs with agility, compassion and innovation.

Winning at IFFSA, the region’s most respected platform for excellence in Islamic finance, marks a strategic milestone for the company. Competing against established players from across South Asia, Janashakthi Finance’s recognition endorses its credibility and elevates its reputation on a regional scale. It is a clear signal that Sri Lanka is not just participating in the Islamic finance movement, it is helping lead it.

At the heart of this success is a suite of products that reflect both commercial acumen and social responsibility. Among them, the Wakalah Term Investment stands out as a non-interest-based investment offering that combines ethical principles with attractive returns. In the vehicle leasing space, Janashakthi Ijarah delivers a Shariah-compliant leasing model with customised rental plans and seamless service. Meanwhile, Janashakthi Ijarah Tuk Leasing—a pioneering solution and the first of its kind in Sri Lanka brings accessible, flexible and ethical vehicle financing to three-wheeler drivers, enabling livelihoods and dignity through financial inclusion.

Janashakthi Finance PLC Acting Chief Executive Officer Sithambaram Sri Ganendran, described the award as a validation of the company’s deep commitment to purpose-driven finance. “This isn’t just a win for Janashakthi,” he said. “It’s a win for every entrepreneur, small business owner and community member who believes in finance as a force for good. It reflects our belief that innovation and ethics can and must go hand in hand.”

“Being recognised at the 10th IFFSA Awards 2025 truly highlights our leadership within the Islamic finance industry. Competing alongside peers from across South Asia not only validates our credibility but also positions Janashakthi Finance as a benchmark for innovation and trust in this evolving sector”, said Janashakthi Finance PLC Head of Channels Saminda Ratnayake.

Janashakthi Finance PLC Head of Alternative Finance Business Unit M. Jowfer Farook commented, “Receiving the Merit Award for the Islamic NBFI Window/Unit of the Year 2024/2025 is a proud reflection of our commitment to delivering tailored financial solutions that meet the diverse needs of our communities.”

The recognition also strengthens JXG’s (Janashakthi Group’s) brand as a trusted partner for investors and stakeholders who value governance, transparency and long-term impact. It highlights the power of a team that has not only executed a bold transformation following the rebranding from Orient Finance PLC, but has also defined a distinctive value proposition in a fast-evolving sector. The award from IFFSA is more than a trophy, it’s a statement. It tells the story of a company that has strategically repositioned itself in line with the future of finance, without compromising the integrity of its roots.