Arpico Finance partners with Adl Capital to offer Islamic financing

Monday, 28 April 2014 00:00 - - {{hitsCtrl.values.hits}}

Arpico Finance Company PLC, (AFC), one of Sri Lanka’s oldest finance company is the newest entrant into the growing domestic market of Islamic Financing with the launch of a dedicated Islamic Financing Unit – Al Jabal.

The unit will operate under the overall ambit of AFC and will offer a range of Shariah compliant products and services to its entire clientele. The unit was officially launched on 8 April and operates from a dedicated premises located at Orchard Building Complex, Colombo 6. The company hopes to introduce Islamic finance products and services for other branches shortly. AFC has been in the continuous search for new markets and geographical expansion, incorporating all major cities and townships into its network and thereby attracting a larger and vibrant customer base. The company’s entry into the domain of Islamic banking offers much promise for the growth of the company and beneficial for all stakeholders. The setting up of AFC’s Al Jabal was facilitated within record time, which is a reflection of the dynamism displayed by Arpico, supported by the expert guidance and supervision of Adl Capital Ltd., a company that specialises in the field of Islamic Finance Advisory, having been actively involved in structuring turnkey Islamic financing solutions to the local IBF industry. These include establishing fully fledged Islamic banking units and product structuring for licensed banks/registered finance companies/leasing companies. Adl Capital’s business advisory functions also includes structuring Shariah-compliant products for the capital and equity markets and offers Shariah-based financial advisory services to private businesses.