Amãna Bank named Islamic Finance Entity of the Year

Amãna Bank’s VP Operations and SME Banking M.M.S Quvylidh receiving the Gold Award for Islamic Finance Entity of the Year from KPMG Managing Partner Reyaz Mihular

Amãna Bank’s Chief Risk Officer Ajmal Naleer receiving the Gold Award for Islamic Finance Deal of the Year from judging panel member Omar Kayaam

Amãna Bank’s VP – Retail Banking and Marketing  Siddeeque Akbar receiving the Silver Award for Islamic Finance Product of the Year  from Judging Panel Member Omar Kayaam

Amãna Bank was awarded the Gold Award for the Islamic Finance Entity of the Year at the recently concluded inaugural Islamic Finance Forum of South Asia (IFFSA) Awards Night, cementing its leadership status in the non-interest-based banking and finance industry in Sri Lanka.  

Held for the first time at an international level, this award ceremony succeeds the previously held annual Sri Lanka Islamic Banking and Finance Industry Awards, which Amãna Bank triumphed at by winning many accolades.   The ceremony also recognised the performance of industry practitioners from other South Asian countries including India, Pakistan, Bangladesh and the Maldives. The award-winners were selected by a distinguished panel of judges with the assistance of KPMG Sri Lanka. In addition to winning the Gold for Islamic Finance Entity of the Year in Sri Lanka, Amãna Bank was also presented the Gold Award for Islamic Finance Deal of the Year and the Silver Award for Islamic Finance Product of the Year for its innovative Flexi Term Investment account. Commenting on the accolades, the bank’s Chief Executive Officer Mohamed Azmeer said: “It is a great privilege to be awarded the Islamic Finance Entity of the Year along with the other accolades. These awards recognise and reflect the bank’s vision of being the admired leader in providing equitable finance solutions and pledging to develop this emerging industry. It is this focus which has resulted in the exceptional growth we have witnessed at Amãna Bank which in turn has brought this honour to us.” Amãna Bank is the first licensed commercial bank in Sri Lanka to operate in complete harmony with 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 on the growing market potential for its unique banking model across the country.