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 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 [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: September 24, 2009
24th September 2009
LOLC through its subsidiary Lanka ORIX Finance Company Ltd. established a dedicated Islamic Business Unit LOLC AL-Falaah in late 2007 in an effort to ensure this area of financing is handled in accordance with Sharia’a laws, thereby guaranteeing consistency with Islamic principles and concepts at all times.
“LOLC Al-falaah” recently introduced the country’s first [...]
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.
For enquiries, Please send an email to the [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: August 14, 2009
14th August 2009
Dow Jones Indexes, a leading global index provider, and Amana Securities Limited, a trading member of the Colombo Stock Exchange launched the Dow Jones Islamic Market (DJIM) AMANA Sri Lanka Index.
DJIM Amana Sri Lanka Index tracks the performance of Sri Lankan companies that comply with Sharia’a-based investment principles. As the pioneering and sole [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: August 12, 2009
18th August 2009
Amana Investments Limited shifted their Pettah branch to a spacious new premises ahead of commencing Banking activities.
The new branch at No.129 Main Street, Colombo 11, was opened by Mr. Faizel Saleh, CEO of Amana Investments at a simple ceremony.
The Pettah branch is headed by Senior Manager Mr. Rizah Ismail, who is an experienced banker.
Amana [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: August 11, 2009
11th August 2009
The First Global Knowledge Centre (FGKC) Limited recently became an accredited training centre of the Securities and Investment Institute (SII) of UK.
It offers its internationally recognized Islamic Finance Qualification (IFQ) in Sri Lanka, Pakistan, Bangladesh, the Maldives, and Qatar. First Global also has the rare distinction of being selected by the esteemed Abu [...]
Posted by: ISLAMIC FINANCE SRI LANKA on: August 7, 2009
Ceylinco Takaful Limited is the Second Takaful Company registered in Sri Lanka.
It was incorporated on 28th September 2005 and started operation on 16th May 2006.
It has been registered with the Insurance Board of Sri Lanka (IBSL) under regulation of
Insurance Industry Act No. 43 of 2000. The technical collaborator is SHIEKAN Insurance &
Reinsurance, Sudan who are the pioneer Takaful operator in the world.
Ceylinco Takaful is a member of Ceylinco Group, which is presently encountered with legal constrains.
