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 [...]
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
Posted by: ISLAMIC FINANCE SRI LANKA on: October 1, 2009
01st October 2009
The Bank of Ceylon (BOC), State-owned commercial bank has introduced (Sharia’a) compliant banking under the brand of ‘BOC An-noor’. The essence of Sharia’a compliance has been ensured with a Sharia’a Supervisory Board (SSB) comprising of eminent Sharia’a scholars in the country, separate firewall to protect the serenity of the unit and by applying [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: October 1, 2009
01st October 2009
Peoples’s Leasing Company – Islamic Financial Services Unit, commenced in October 2005, entered the market three months later, and completed its third year of operations on a successful note.
The Islamic Financial Services Unit (IFSU) obtained Qard loan from People’s Leasing Head Office to commence its operation. According to the arrangements, loan funds would [...]
