Amãna Bank powers inaugural Islamic Finance Forum of South Asia

Monday, 25 July 2016 00:00 - - {{hitsCtrl.values.hits}}

With an objective of promoting the growing non-interest based Islamic banking and finance industry in Sri Lanka and the region, Amãna Bank has come forward to sponsor the inaugural Islamic Finance Forum of South Asia (IFFSA) as its Lead Banking Partner. The event, which is to take place on 26 and 27 July at Ramada Colombo, will discuss the challenges and the potential for the region as a whole for the nascent concept which has firmly taken root in in Sri Lanka, Pakistan, Bangladesh and Maldives under regulatory supervision.

Commenting on the partnership, the bank’s Chief Executive Officer Mohamed Azmeer said, “As the pioneers of the Islamic Finance concept in Sri Lanka, Amãna Bank is honoured to partner the inaugural Islamic Finance Forum of South Asia, as it is an ideal platform to engage the industry in sharing their knowledge and expertise to drive the industry forward in the region. We look forward to the rich discussions which would take place at the conference and I am confident that the outcome will further strengthen and boost the industry. Further this forum will also give the opportunity for Sri Lanka to showcase its potential as a hub for Islamic Banking and Finance in South Asia.”

The forum’s key note address will be delivered by European Centre for International Political Economy Director Dr. Razeen Sally. With over 40 speakers taking part, the forum will address key topics such as Challenges and Opportunities for Islamic Finance in South Asia, Debt and Capital Market, Cross Border Opportunities, Banking for the Unbanked, Alternative Finance and New Product Development, and Advances in Technology and its impact on the industry. Showcasing its current status, country specific presentations from Sri Lanka, Pakistan, Maldives, and India will be also shared at the forum.

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 DiriSavi 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.