Islamic financial services from CDB

Islamic Finance in Sri Lanka - 28th November 2012 Citizens Development Business Finance PLC (CDB) is planning to launch the company’s Sharia’h compliant Independent Finance Unit branded “CDB Meezan” very soon. ADL Capital Limited that has specialised in structuring turnkey Islamic Financing solutions to the local and overseas industry, has offered its services in setting...

Sri Lanka – Islamic Finance Country Report 2011

Islamic Finance in Sri Lanka You can download the Islamic Finance Country Report - Sri Lanka - 2011 compiled by KPMG . http://www.kpmg.com/LK/en/Documents/SriLankaIslamicFinanceCountryReport.pdf

CEYLINCO TAKAFUL CLAIMS ARE TO BE SETTLED?

Islamic Finance in Sri Lanka -November 26, 2012 Ceylinco Takaful Claims Source: Sunday Observer, November 25, 2012 (Page 105) Subsequent to the Financial crisis in Sri Lanka in 2008,specifically in the Ceylinco Group, The Insurance Board of Sri Lanka (IBSL), suspended activities of Ceylinco Takaful Ltd (CTL), with effect from 5th August 2009. Following is...

Amãna Takaful – records 26 % growth in 3-Q-12

ISLAMIC FINANCE IN SRI LANKA Amãna Takaful - records 26 % growth in 3-Q-12 Source: http://www.dailynews.lk/2012/11/20/bus05.asp   Amãna Takaful PLC (ATPLC), records an impressive growth of 26 % for the 9 months to September 2012, well above the industry's 12.2 %. The company's performance in terms of total Gross Written Premium (GWP) of Rs. 1,151.5...

Islamic finance: Challenges and opportunities

Sri Lanka Islamic Finance Islamic finance: Challenges and opportunities September 7, 2012 Source: http://www.ft.lk/2012/09/07/islamic-finance-challenges-and-opportunities/ By Devin Jayasundera With the country’s Islamic banking still at a low penetration level, experts point out that with the strategic position that Sri Lanka occupies in the region, it should make forays into Islamic capital market to reap full benefits...

Dialog dials Islamic finance for Rs. 51 b

Sri Lanka Islamic Finance Dialog dials Islamic finance for Rs. 51 b November 8, 2012 Source: http://www.ft.lk/2012/11/02/dialog-dials-islamic-finance-for-rs-51-b/ Dialog Axiata yesterday announced that its Board of Directors proposed the establishment of a Malaysian Ringgit denominated Islamic Medium Term Note Program under the Shariah principle of Murabahah of up to MYR 1.2 billion in nominal value (approximately...

Amana-Heraymila Shariah Fund Launched

Heraymila Capital (Pvt) Ltd. (HCL) and Amana Capital Ltd. (ACL) jointly launched the Amana-Heraymila Shariah Fund, a balanced unit trust fund that will invest in Shariah-compliant listed equity and income securities. The initial unit offer period is from November 12, 2012 till 4.30 p.m. on November 28, 2012 and a unit is priced at LKR...

Islamic banking assets in Sri Lanka to reach $ 1.5 billion

06th Nov 2012 by Indunil Hewage Sri Lankan Islamic banking assets would reach $ 1.5 billion from the present $ 250 million in coming years, says Amana Bank  Chief Executive officer Faizal Salieh. Of the country’s 21.5 million people, about 8 % are Muslim and there is a strong demand for Islamic financial products from...