Posted by: ISLAMIC FINANCE SRI LANKA on: November 30, 2009
30th November 2009
Institute of Business Studies will be commencing the Islamic Banking & Finance course that leads to Post Graduate Diploma (PGD) – (6 months) at – IIBI (UK) and MSc in Islamic Finance (1 year) Durham University (UK).
The course will cover Concepts & Principles of Islamic Economics (Diploma Level) & Islamic Finance (Advanced Deiploma level) of – ABE (UK).
Entry requirements:
A/L 2 passes, O/L with experience, ABE Certificate Level
Duration : 6 months (Part time)
* ABE - UK
The Association of Business Executives is an International Examining Body and provider of Business and Management qualifications, leading onto Degree and Masters Routes. ABE has ‘Awarding Body’ status in the United Kingdom and is also recognized in many other countries worldwide.
* IIBI -UK -
Institute of Islamic Banking & Insurance is one of the World’s leading independent academic and research organizations solely dedicated to the promotion and implementation of Islamic Finance.
Institute of Business Studies
# 67, Kawdana Road, Dehiwela
# 524/1/1 Peradeniya Road, Kandy
email: info@ibslanka.com
Posted by: ISLAMIC FINANCE SRI LANKA on: November 12, 2009
12th November 2009
Source: http://www.peacemuslims.org/Ceylinco_Kathankudy_branch_owes_ Rs128_mn_to_depositors-20-1315.html
Thursday, 05 November 2009
“The Ceylinco Profit Sharing Investment Company’s Kaathankudy branch alone has 1727 customers and a total of over Rs. 73 million in fixed deposits and over Rs. 55 million has been deposited in savings accounts.” This was disclosed at a press conference held by disappointed depositors from Kattankudy by Quaazi Judge Mr. M.M.M. Mahroof Careem who is also a customer of Ceylinco Profit Sharing.
Mr. Mahroof Careem was speaking at a media conference organized by the Kaathankudy Mosques Federation recently on behalf of the customers who had deposited their money in Ceylinco Profit Sharing. The media conference was held in the Mosques Federation headquarters.
“The President who declared there is no minority in this country should find a solution for those people who have been affected by the Ceylinco Profit Sharing Investment Company.We are well aware that the majority community’s problem in the Golden Key scam has been resolved. Similarly, the minority who was defrauded by Ceylinco also needs to be shown compassion and their grievances also resolved by the President” added Mr. Mahrof Careem.
Speaking further Mr. Mahroof Careem added that public companies have placed their deposits in Ceylinco for a monthly income. Political leaders and Ministers are duty bound to work together and ensure the hard-earned money of the poor people are returned to them rightfully.
Kaathankudy Health Officer Mr. M.S.M. Jafeer, another customer of Ceylinco stated that they had taken this issue to Western Province Governor Alavi Moulana, Minister A.H.M. Fowzie, SLMC Leader Mr. Rauff Hakeem and many government officials. But no progress has been made in this regard.
“Two of the depositors who were swindled by Ceylinco have died and many have lost their health over this distress. So far the Central Bank has taken no proper action against this. The Central Bank should find a solution and come forward to help us.
“Depositors from Kalmunai, Akkaraipattu, Sammanthurai and Oddamavadi who are also in similar plight have joined hands with us in our struggle. In this, 2% of Tamil depositors’ money is also included in the Kaathankudy branch.”
“We have complained this matter to the CID and we will continue our struggle. We call upon the All Ceylon Jamiyyathul Ulama also to intervene and help us resolve this serious issue”, Mr. Jafeer concluded.
Posted by: ISLAMIC FINANCE SRI LANKA on: November 3, 2009
03rd November 2009
Insha Allah the latest issue of ‘Islamic Finance Today’ Magazine will be released next week.
Editor Mr. Asiff Hussein states that the negotiations are underway to take this magazine to the Global market.
May Almighty Allah make it a success.
Posted by: ISLAMIC FINANCE SRI LANKA on: October 30, 2009
30th October 2009
Amana Investments that received provisional licence to open a commercial bank was supposed to commence banking operations in October. However, due to certain constraints, things did not work according the plan. They have requested permission from Central Bank to extend the period. Their Malaysian investors also were in Sri Lanka recently. It is also learnt that the aditional capital is coming from Kuwaiti investors. Insha Allah Amana Bank, the first Islamic Bank in Sri Lanka may open the doors in January 2010.
As we all know ‘every thing in the hands of Almighty Allah.’
Therefore please include in your prayers that May Almighty Allah make things easier for them.
Posted by: ISLAMIC FINANCE SRI LANKA on: June 25, 2009
Amana Investments has received the provisional Licence to
commence banking operation. At present Amana is raising
capital of Rupees 2.5 billion, by private placement. Each
share has been priced at Rs. 5/- with a minimum investment
of 1000 shares.
Insha Allah the bank will be launched towards October 2009.
Once opened it will be the first fully fledged Islamic Bank
in Sri Lanka.
Posted by: ISLAMIC FINANCE SRI LANKA on: August 27, 2009
‘Islamic Finance Today’ is a Quarterly Magazine published by
Pioneer Publications – Sri Lanka. Since launch of its first Issue
in September 2006, it has published many articles on Islamic Finance.
Listed below are the titles of the articles. Previous issues of the
magazines could be purchased from Pioneer Publications subject to
availability.
Posted by: ISLAMIC FINANCE SRI LANKA on: November 30, 2009
30th November 2009
CLOSING DATE: 08th December 2009
Locations: Kalmunai, Kattankudi, Oddamawadi, Polonnaruwa, Anuradhapura, Matara, Kochchikade and Ratnapura
Work area: to market the company’s complete range of Islamic financial products including lending facilities and Deposit mobilisation in the above mentioned regions.
Requirements:
Below 30 years,
minimum 1-3 years experience in Banking and/or a similar nature of work,
A/L in one sitting, Degreee, Professional qualification such as CIM or a Diploma in Islamic Banking & Fiannce -added advantage.
Experience in credit appraisals/evaluations is essential.
Computer literacy and possession of a valid Driving license
Locations: Kalmunai, Oddamawadi, Akurana
Work area:
handling of cash transactions, assisting in operations activities, accepting and banking cash/cheques, maintaining the petty cash float and preparing daily collection summaries.
Requirements:
Below 30 years, A/L, Experience in similar capacity in a financial institution added advantage.
* Preference is given to individuals who can converse fluently in English, Sinhala & Tamil.
Send complete resume along with the contact details of two non-related referees to reach LOLC
1) by post to (Mark the post applied for, on the left hand corner of the envelope)
The Manager – Human Resources
LOLC AL-FALAAH -Islamic Business Unit
LOLC Group
Recruitment Centre,
No.100/1, Sri Jayawardenepura Mawatha
Rajagiriya
2) or you send your CV by email to : careers@lankaorix.com (mark the post applied in the subject line)
3) or you apply online at - www.topjobs.lk/lolc
Further details: Sunday Observer – 29th November 2009
LOLC Al-Falah Islamic Business Unit is a dedicated, separate, business unit set-up within the regulatory framework of Lanka ORIX Finance Company Ltd (LOFC). LOFC is a wholly owned subsidiary of Lanka ORIX Leasing Company PLC (LOLC) and is registered by the Monetary Board of the Central Bank of Sri Lanka as an authorised Deposit taking institution.
Click here to read other articles on LOLC -AL FALAAH – http://azharseylan.wordpress.com/category/lolc-al-falaah/
Posted by: ISLAMIC FINANCE SRI LANKA on: November 11, 2009
11th November 2009
by N M M.Mifly (Naleemy) Senior Assessor (IRD)
Sri Lanka has been devastated for the last three decades by the ruthless war. The Lion’s share of the budget had to be diverted to combat terrorism. No major developments were carried out.
The commitment, sacrifice, patriotism and above all the able political leadership prevailed over the challenges and betrayals. The motherland Sri Lanka was lucky enough to be liberated from terrorism. It is the bounden duty of every patriotic citizen of the country to do his/her best to rebuild the country which lags behind other similar countries by at least 30 years.
Huge investment is indispensable for the reconstruction of the country that is destroyed by the war. Sadly, the global economic meltdown hinders the flow of investment. The irony is that the conventional financial institutions as well contributed to the world economic crisis.
Click here to Download the full article Islamic finance and reconstruction of Sri Lanka
Posted by: ISLAMIC FINANCE SRI LANKA on: November 3, 2009
03rd November 2009
We have seen many changes taking place at First Global. Mr. M.H.M. Faizer, who assumed duties as a strategic advisor couple of months ago has ended his service.
The Deputy CEO Mr. S.H.M. Faraaz who joined First Global recently is in the process of addressing the operational issues. The new capital infusion is expected towards early January 2010 to facilitate obtaining Finance Company Licence to comply with the regulatory issues.
Mr. Faraaz has about 20 years banking experience. When he was at Seylan Bank had an opportunity to serve in Oman. He also worked for Thomas Cook before joining Amana Investments. Mr. Faraaz has following qualfications in his profile. MBA,BBA,AMABE,DIBM,DHRM,DIM,PGDIIB.
He has a big task on his shoulder to streamline the process to facilitate obtianing the regulatory approvals.
Posted by: ISLAMIC FINANCE SRI LANKA on: October 13, 2009
A presentation made at the 2nd International Conference & Exhibition on Islamic Banking and Finance – Lahore, Pakistan. 25th August, 2008 by Muhammad Ikram Thowfeek
