Sri Lanka celebrates 25 years of Islamic banking and finance with top forum today

The Islamic banking and finance industry in Sri Lanka celebrates a very significant milestone – 25 years since its introduction, albeit informally, in February 1997. 

The evolution of the industry during these years has been nothing short of remarkable. In fact, the Sri Lankan IBF industry has been ranked amongst the top 15 in the world, in terms of its development. This is extremely commendable when one considers that the others that feature prominently in this exclusive list are mostly from the Middle Eastern region along with some of the Asian behemoths, such as Malaysia, Bangladesh, Indonesia et al. 

After a hiatus of two years during which the event was hosted on a virtual platform, the 14th SLIBFI Conference is expected to break new ground; to be held as a Physical or at least a Hybrid event for the very first time. This will enable foreign speakers to yet again feature as Sri Lanka celebrates a very momentous time in the annals of the IBF industry in Sri Lanka. In fact, the SLIBFI Conference will be the very first in a series of events to be held in the year 2022, commemorating 25 years of the IBF industry.

This year will also mark several other important milestones – the 15th anniversary of LOLC AL Falaah’s Alternative Finance Unit, the 10th anniversary of Amana Bank PLC and the 10th anniversary of HNB’s AL Najah. Thus, the year 2022 will be a memorable year for a multitude of reasons.

The event, scheduled for the 7 March 2022 at the Ramada, will feature many of the pioneers that were actively involved in the IBF industry from the very inception. 

The Chief Guest will be Amana Bank Plc Founder Chairman (retired) Osman Kassim widely regarded as the visionary behind the introduction to the local market. Despite challenges and obstacles, he persevered and many of the initiatives, including Takaful, could be attributed to his untiring efforts over a very long period of time.

A.I. Marikkar, who was the MD of Amana Investments when it commenced operations in February 1997, will be the Guest of Honour and will also address the delegates present at the conference.

The event will feature several other notable luminaries in the field of IBF. Panel discussions will feature several eminent personalities who have played pivotal roles and contributed in no small measure to the development of the industry. 

The first such discussion will comprise Amana Bank MD/CEO Mohamed Azmeer, Amana Takaful CEO Shehan Faisal, KPMG Sri Lanka Managing Partner Reyaz Mihular, Vidullanka MD/CEO Riyaz Sangani, LOLC Group Head of Alternative Financial Services Krishan Thilekeratne and NDB Bank AVP Amal Yapa.

KPMG Sri Lanka Principal Suresh Perera will moderate the panel discussion. 

Several other panel discussions will also follow, which would include representation from many institutions;  Amana Bank Vice President – Retail Banking and Marketing Siddeeque Akbar, HNB AGM- Head of Islamic Banking Hisham Ally,  Amana Takaful Senior Manager – Corporate Sales Thasleen Ammon, Commercial Leasing and Finance Chief Manager/Head of Islamic Business Division Ilsam Awfer, Richard Peirs Arpico Finance AGM – Branch Operation/Head of Islamic Finance Imruz Kamil, Seylan Bank Head of IBU Sameer Mohamed, LOLC DGM Alternate Financial Services Shiraz Refai,  Associated Motor Finance Head of Islamic Finance Recaz Rizvi, LOLC General Insurance Chief Manager/Head of Takaful Nadheer Siddeeq and Amana Bank Head of OrphanCare Azad Zaheed are some of the distinguished panellists who will also feature. 

The day’s proceedings will conclude with a live session on Zoom, which would involve experts in the field from countries as diverse as Maldives, India, Pakistan, South Africa and the USA. These sessions will be moderated by BDO Sri Lanka and Maldives Partner, Tax Services Sarah Afker, BankT&D Consulting Ltd., UK Senior Consultant Shiraz Sideek and Adl Capital Ltd. MD/CEO Ishrat Rauff. 

For more information, please contact the event organisers on 0773501246.