Reaffirming its leadership in Sri Lanka’s non-interest based Islamic banking and finance industry, Amana Bank secured three major accolades at the prestigious Islamic Finance News (IFN) Awards, including the coveted Best Bank in Sri Lanka award for the fifth consecutive year. Complementing this achievement, the Bank was also recognised as Best Retail Bank in Sri Lanka and most Innovative Bank in Sri Lanka, further underscoring the breadth of its performance across key areas of banking. These recognitions come amid growing competition in Sri Lanka’s Islamic banking and finance industry, which now comprises more than 15 institutions offering Islamic financial services.
Now in its 20th year, the IFN Awards, organised by Malaysia-based REDMoney Group, recognise leading institutions and landmark transactions across the global Islamic finance industry. Amana Bank Managing Director/CEO Mohamed Azmeer attended the gala awards ceremony held in Dubai to receive the accolades on behalf of the Bank.
The awards span major Islamic finance markets including Malaysia, the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Egypt, Pakistan, Bangladesh, Turkey, the United Kingdom, Indonesia and South Africa. Beyond recognising leading banks, the IFN Awards also honour outstanding Islamic finance deals across areas such as Sukuks, sustainability financing, syndicated financing, cross-border financing and social impact financing. At this year’s ceremony, awards were presented to sovereign entities recognising them for pioneering Sukuk issuance initiatives, leading global financial institutions such as Standard Chartered and HSBC, international rating agencies including S&P Global Ratings and Moody’s, as well as prominent Islamic banking institutions such as Al Rajhi Bank, Kuwait Finance House, Dubai Islamic Bank and Abu Dhabi Islamic Bank.
Commenting on the recognition, Managing Director/CEO Mohamed Azmeer said, “We are deeply honoured to once again be recognised as Sri Lanka’s Best Bank at the IFN Awards, and particularly proud to receive this recognition for the fifth consecutive year, alongside some of the world’s most prominent and respected institutions in the global Islamic finance industry. Being determined through a global industry poll makes these accolades especially meaningful, as they reflect the confidence and recognition Amana Bank has earned among stakeholders within the wider Islamic finance community. These achievements would not have been possible without the continued trust and confidence of our customers, shareholders, partners and other stakeholders, together with the dedication of our employees. We sincerely thank them for being an integral part of our journey and for inspiring us to continuously raise the standard of development focused people friendly banking model.”
Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange, with the Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a Supra-National, ‘AAA’ rated multilateral development financial institution with a membership of 57 countries.
Testifying to its position as a leading practitioner of the non-interest-based banking model, Amana Bank was recognized amongst the Top 50 Strongest Islamic Banks in the World by The Asian Banker. Amana Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.
