Amãna Bank expands reach by joining LankaPay network

Towards providing its customers with greater convenience and access, Amãna Bank recently joined the LankaPay Common ATM Switch (CAS), reaching yet another significant milestone in the bank’s journey. Since the initiation in 2013 under the guidance and approval of Central Bank of Sri Lanka, LankaPay Common ATM Network has grown to become Sri Lanka’s largest common ATM betwork connecting almost 98% of the total number of ATMs in the country with the participation of 22 member banks and financial institutions. With the partnership with LankaPay, Amãna Bank customers will enjoy the convenience of accessing their accounts via 3500+ ATMs island wide. 

Commenting on this partnership, Amãna Bank Chief Executive Officer Mohamed Azmeer said, “We are honoured to join the LankaPay CAS network as it is a national initiative to provide wider and affordable access to all banking customers. Such partnerships reflect our commitment towards enhancing customer convenience and reach. We are thankful for LankaPay for establishing a platform from which both customers and banks will benefit.”

While commending Amãna Bank for their forward looking approach, LankaClear Ltd. General Manager/CEO Channa de Silva said, “We are elated to welcome Amãna Bank, who is the pioneer in Islamic Banking, to LankaPay CAS. This is a true service enhancement to all their customers who will now have access to almost 98% of all ATMs in the country. As the operator of the Trusted National Payment Network of Sri Lanka, we consider this partnership to be of great significance in furtherance of our vision towards harnessing financial inclusivity as we expand our services to over 180,000 customers of Amãna Bank.”

CAS is an integral part of LankaPay – Trusted National Payment Network, which also operates National Cheque Clearing, Sri Lanka Interbank Payment and Common Electronic Fund Transfer networks. The other members of the LankaPay CAS network through which customers can withdraw funds include People’s Bank, Bank Of Ceylon, Hatton National Bank, Seylan Bank, NDB Bank, Union Bank, Regional Development Bank, Commercial Bank, Cargills Bank, Habib Bank, Standard Chartered Bank, Sampath Bank, Pan Asia Bank, Nations Trust Bank, DFCC Bank, Public Bank, National Savings Bank, HDFC Bank, MCB Bank, Axis Bank and Commercial Credit and Finance. 

The launch of LankaPay Common ATM Network marked a significant milestone in the country’s banking sector through common usage of resources generating greater economies of scale whilst enhancing customer convenience.

Amãna Bank is Sri Lanka’s first and only Licensed Commercial Bank in Sri Lanka to conduct all its operations under the principles of the non-interest based Islamic banking model and is listed on the Diri Savi Board of the Colombo Stock Exchange. Fitch Ratings, in October 2015, affirmed the Bank’s National Long Term Rating of BB(lka) with a Stable Outlook. The bank was recognised as the Best ‘Up-and-Comer’ Islamic Bank of the World by ‘Global Finance Magazine’ at the 18th Annual World’s Best Banks Award Ceremony 2014 held in Washington DC, USA. 

Powered by the stability and support of its strategic shareholders including, Bank Islam Malaysia Berhad, AB Bank in Bangladesh and The Islamic Development Bank based in Saudi Arabia, Amãna Bank is making strong inroads within the Sri Lankan banking industry and is focused on capitalising the growing market potential for its unique banking model across the country.