LB Finance installs new Sharia Supervisory Board

LB Finance Al Salamah, the Islamic Banking Unit of LB Finance PLC, recently installed a new Sharia Supervisory Board as a part of the many enhancements done by the company to offer its customers the best possible service.

The newly-appointed board comprises distinguished and well-respected scholars who also sit on Sharia boards of many other banks and finance companies in Sri Lanka. This includes: Ash-Sheikh Fazil Farook (Chairman), Ash-Sheikh Murshid Mulaffer, Ash-Sheikh Muhammed Huzaifa.

Established in 2010 to cater to the growing need for Sharia compliant financial services in the local market, LB Finance Al Salamah is a 100% independent unit engaging in a wide range of financial services including Mudharabah investments – both fixed deposits and savings, leasing, Murabaha financing and much more. While the savings account is offered with ATM facilities, the entire process is computerised to ensure greater convenience.

In a short time, LB Finance Al Salamah has become one of the most successful financial units catering to this niche market. The unit operates from Maradana and is also present in strategic locations across Sri Lanka.