News Read More

LOLC Al-Falaah bags multiple accolades at SLIBFI 2019/20

Reaffirming its status as Sri Lanka’s most awarded Alternate Financial services brand, LOLC Al-Falaah won multiple awards at the 9th Sri Lanka Islamic Banking & Finance Industry (SLIBFI) awards which was held virtually for the first time.

LOLC Al-Falaah won the ‘Gold’ award for ‘Leasing Company of the year’ with a ‘Silver’ award for ‘Window of the year’ and a ‘Bronze’ award for ‘Entity of the year’ for the financial year 2019/20. Furthermore, the company’s ‘Mudharabah super saver’ account introduced earlier in the year won a ‘Merit’ award for the category of ‘Product of the year for 2019/20’. Another key accolade under the category ‘Rising Islamic Finance Personality of the year for financial year 2019/20 was awarded to LOLC Al-Falaah’s In-house Scholar Advisor, Ash-Shaikh Ubaidullah Iqbal.

Held for the ninth consecutive year, the SLIBFI awards are the most prestigious awards organised within the Alternate Financial services industry of Sri Lanka to recognise individuals and institutions that made significant contributions to the industry during the 2019/20 financial year. UTO EduConsult organises the SLIBFI Awards in conjunction with KPMG, whose key role is to ensure an impartial evaluation process. An independent panel of judges of repute, under the guidance of KPMG, also assists in the final adjudications. The SLIBFI Awards take into consideration the performances of licensed commercial banks, finance institutions, insurance providers, capital market funds, and education institutes.

Commenting on the achievements, Mr. Shiraz Refai, Deputy General Manager of LOLC Al-Falaah said, “We are truly pleased with these multiple wins, this year too. This could not have been possible without the continued patronage and support of our valued customers, all stakeholders and the dedication of our talented staff across the LOLC Finance branch network for their untiring dedication and effort which has propelled LOLC Al-Falaah to become the most trusted brand in Sri Lanka for Alternate Financial services. Our commitment is emphasised further, as the SLIBFI recognition for ‘Upcoming Young Industry Talent’ was secured by one of our very own”.

Mr. Krishan Thilakaratne, LOLC Group Head of Alternate Finance said, “I believe that LOLC AL-Falaah’s winning streak is purely due to the trust and confidence that our customers have placed in us. Added with our talent pool to build strengthened relationships with all stakeholders, LOLC Al-Falaah will continue to be a household name as always”.

LOLC Al-Falaah, with over a decade of experience in the Alternate Finance landscape of Sri Lanka, functions directly under the auspices of LOLC Finance PLC, which is Sri Lanka’s largest non-banking financial institution (NBFI). LOLC Finance which is a regulated Finance Company of the Central Bank of Sri Lanka (CBSL) is rated [SL] A with stable outlook by ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd.

Krishan Thilakaratne, LOLC Group Head of Islamic Finance

Shiraz Refai, Deputy General Manager of LOLC Al-Falaah