Colombo
Seylan Bank has won the coveted Gold Award for ‘Emerging Entity of the Year’ at the Sri Lanka Islamic Banking and Finance Industry (SLIBFI) Awards 2020.
The SLIBFI Awards are the premium awards for Islamic Finance in Sri Lanka, setting the competitive benchmark for the industry.
Seylan Bank’s Islamic Banking Unit commenced operations in 2018 under the bank’s strategic vision to cater for the niche market segment of clients, looking for Islamic banking solutions and services. The unit has achieved significant growth in income level, and assets and liabilities base.
During the year 2020, the Islamic Banking unit achieved over 100 percent growth in the top line, while the assets and liability books grew by a similar level for the same period.
M. Z. Sameer Mohamed, Head of Islamic Banking Unit, Seylan Bank commenting on winning the award said, “Islamic Banking is an alternative banking system practised around the world alongside conventional banking and has a growing clientele in Sri Lanka. .—The Island
