Amãna Bank completes 10 years of banking in Sri Lanka
View(s):Amãna Bank, Sri Lanka’s one and only licensed commercial bank to fully operate on non-interest based banking principles, has successfully completed 10 years of banking operations.
Having commenced its journey on 1 August 2011, Amana Bank has witnessed strong progress, which was primarily fuelled by the growing support and confidence of it valued customers, which today counts over 380,000, the bank said in a media release.
Within these 10 years, the bank has reached Rs. 100 billion in total assets, while growing its franchise to 32 branches, 19 Self Banking Centres, 5000+ ATMs and 850+ deposit points through collaborations with LankaPay and Pay&Go, offering a wide range of product and service solutions.
“Over the years through performing constantly, the bank has built a strong track record of profitability and dividends, for which progress the bank has been recognised as the ‘Best Up and Coming Islamic Bank of the World’ by Global Finance Magazine USA and the ‘Fastest Growing Retail Bank in Sri Lanka’ by Global Banking and Finance Awards UK,” the release said.
It said Amãna Bank has predominantly served the SME sector which is the backbone of the Sri Lankan economy, where its people-friendly banking model forms a strong strategic fit. Going beyond that, the bank’s core business operations and CSR activities are well aligned towards Sustainable Banking initiatives as advocated by the United Nations Sustainable Development Goals (UNSDG).
Commenting on the milestone, the bank’s current Chairman Asgi Akbarally said: “From a humble beginning in 2011, Amãna Bank today has emerged as a fast growing institution steadily progressing towards making a strong impact within the local banking industry serving all Sri Lankans. This journey would not have been possible if not for the support of our stakeholders, for whom I extend my heartfelt gratitude including the regulators, strategic shareholders, fellow Board of Directors, employees well led by the CEO and Management Committee and most of all our valued customers.”
Sharing his views, the bank’s visionary Founder Chairman Osman Kassim, who retired last August upon completing the mandatory serving period as a Board of Director in a licensed commercial bank, said: “Amãna Bank has always been a dream and a passion for me which will continue to strongly echo in my heart. Amongst many purposeful initiatives I have pursued during my 40+ entrepreneurial years, I regard Amãna Bank as one of the most challenging initiatives while noting that it is also the one which has brought the most satisfaction and happiness to me.”