|
Amana takes Islamic Finance beyond traditional
market segment
In a ground-breaking move, Amana Investments have taken
their products and services beyond the traditional market
segment to some of Sri Lanka’s leading companies
in the corporate business sector.
Amana pioneered Islamic Financial Services in the country
as far back as 1997. It started off its business catering
exclusively to the mandatory financial requirements
of the Muslim community. Over the years has established
itself as a household brand name in the fields of Islamic
finance, insurance, fund management, asset management,
stock broking and corporate advisory services. The Group
today stands out as one that strives to uphold the principles
of Sharia in providing world class financial solutions
to its large base of customers on both sides of its
balance sheet.
Having established its business model as a viable system
of financing and with the growing awareness in the market
place about the strong ethical features of Islamic financial
solutions, Amana Investments has now reached out to
assist a number of corporate customers with its range
of Sharia-compliant financing products such as Working
Capital Finance on the principles of the Restricted
Mudaraba, Trade Finance on the principles of Murabaha
and Musawama and Structured Term Finance on the principles
of the Diminishing Musharaka.
The corporate customers now transacting business with
Amana include businesses engaged in agriculture and
agro-products, poultry, animal feed, FMCG, manufacturing
and construction. Amana’s Head of Business Facilities,
Shamil Kaleel, said “we are happy to have gone
beyond our traditional market segment and booked a number
of corporate business clients. It took a while to explain
to them the structure and benefits of Islamic financial
products. But once they saw the real value in our products
they were pleased to transact business with us.”
Commenting on the new initiative, Amana’s Managing
Director, Faizal Salieh, said “our corporate marketing
team has done well in taking our products and services
to the larger corporate market. When customers do realise
that we do not take off the umbrella when it begins
to rain, we have a strong relationship going.”
|
