LOLC Al-Falaah shines as South Asia’s Brand of the Year

Members of LOLC Al-Falaah, Alternate Financial Services (from left): Ladies Unit Executive Haneea Waajith, Institutional Marketing Manager Shafin Iqbal, Business Operations Executive Ilham Mohammed, Business Operations Associate Manager Fazil Mohamed, Alternate Financial Services Head Shiraz Refai, Regional Business Supervision Deputy Manager Imran Hameed, Regional Business Supervision Associate Manager Shazeen Hameed, Chief Manager Ilsam Awfer, and Corporate Branch Manager Hazim Huzair

LOLC Al-Falaah has announced its outstanding achievements in the realm of Islamic finance, clinching two distinguished Gold awards and two Silver awards at the Islamic Finance Forum for South Asia (IFFSA) Awards 2023. 

The pinnacle of the accolades is the “South Asia’s Brand of the Year” Gold award, followed by the “South Asia’s Islamic NBFI of the Year,” which has been secured for the third consecutive year. The Silverware was awarded for “Islamic Entity of the Year” and “Islamic Banking Window/Unit of the Year.”

The evaluation criteria were centred on LOLC Al-Falaah’s financial performance for the 2022/23 fiscal year, serving as compelling evidence of the business unit’s exceptional performance and customer satisfaction in the field of alternate financial services. 

LOLC Al-Falaah, has been recognised as an industry “trend-setter” since 2007. The business unit currently maintains a robust presence with over 210 LOLC Finance branches across the country, complemented by dedicated Al-Falaah service centres strategically located for enhanced accessibility. Additionally, customers can easily manage their investments and savings through ‘LOLC Real-Time’ Internet Banking and Sri Lanka’s fastest-growing lifestyle mobile banking application, ‘i-Pay’. The provision of hassle-free virtual registration further empowers account holders, affording them the convenience of international account access for seamless transactions.

LOLC Al-Falaah Alternate Financial Services Head Shiraz Refai said: “We are honoured to be the recipients of these esteemed awards repetitively from IFFSA over the years. These accomplishments serve as a resounding endorsement by our valued customers of our solid commitment to delivering innovative and tailor-made alternate financial solutions. These awards inspire us to continually push the boundaries. Moreover, it is a tribute to the tireless dedication of our exceptional team in upholding the highest standards of service excellence at LOLC Al-Falaah.”

Chief Manager Ilsam Awfer said: “Our success in receiving these accolades underscores our steadfast commitment to providing top-tier financial services that are firmly rooted in Islamic principles. It reflects our ongoing dedication to surpassing customer expectations and maintaining our reputation as a trustworthy and innovative alternate financial service provider. I would like to take this opportunity to thank our valued customers and stakeholders who are behind this success.”