Testifying its commitment of staying true to the ethos of the non-interest based banking model, Amana Bank was bestowed the maiden Gold Award for ‘Spirit of Islamic Finance’ at the recently concluded SLIBFI Awards organized by UTO EduConsult and independently adjudicated by KPMG Sri Lanka.
In tribute to its commitment to the people friendly banking principles, Amana Bank has emerged as a pioneer, embodying the true essence of ethical banking. The Bank’s unwavering dedication to the welfare of its customers has brought it to the forefront of the industry, fostering financial inclusion, sustainability, and significant contributions to society, truly exemplifying the Spirit of Islamic Finance.
Sharing his thoughts on this achievement, Amana Bank’s Managing Director/CEO Mohamed Azmeer said, “Receiving the inaugural Gold Award for ‘Spirit of Islamic Finance’ is an honour for Amana Bank. This recognition reaffirms our steadfast commitment to upholding the principles of our banking model and our dedication to fostering financial well-being for all. We believe that true success in banking is not just measured by financial gains but by the positive impact we create in people’s lives. This award is a testament to the hard work and dedication of the entire Amana Bank team, and it motivates us to continue our journey of responsible and ethical banking, making a meaningful difference in the industry and society at large.”
Amana Bank does not profit from late payment fees or penalties. This approach reflects the Bank’s genuine intent to support its customers during times of financial challenge. Further through its award winning Gold Certificate Financing solution Amana Bank has ensured financial inclusivity, reaching out to many unbanked and under-banked customers.
A key aspect of Amana Bank’s outreach is its proactive initiative to enhance public awareness about its unique banking model. The establishment of a dedicated ‘Knowledge Marketing’ department underscores the Bank’s resolve to demystify any misconceptions held by the public and highlight its differentiating features and benefits compared to conventional interest based banking. Through various public awareness programs, Amana Bank has effectively engaged with the public and increased financial literacy. Moreover, to clarify many misconceptions and portray the benefits, Amana Bank has introduced an engaging series of informative animated videos, widely promoted through digital platforms. With versions available in all three languages, the Bank’s commitment to promoting the Spirit of Islamic Finance was evident in its inclusive approach to disseminating knowledge.
Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks continued to be recognized amongst the Top 100 Strongest Islamic Bank’s in the World by The Asian Banker.
Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.
Image Caption: Amana Bank Managing Director/CEO Mohamed Azmeer receiving the award from KPMG Principal – Head of Tax & Regulatory Suresh Perera