LOLC Al-Falaah Wadi’ah gold storage facility hits Rs. 3 b milestone
View(s):LOLC Al-Falaah, the Alternate Financial Services unit of LOLC Finance PLC, offers the ‘Wadi’ah Gold Storage Facility’, with alternative features to address conventional gold loan offerings.
Driven by consistent and progressive growth, Wadi’ah has achieved a remarkable milestone by surpassing a benevolent cash-advance portfolio exceeding Rs. 3 billion. This momentous achievement signifies the growing demand for ethical, transparent, and purpose-driven financial solutions in Sri Lanka’s evolving financial services landscape, the company said in a media release.
The Wadi’ah Gold Storage Facility allows customers to safely deposit their physical gold while receiving a valid storage certificate that clearly details the exact weight, quality, and value of the items stored. This transparency, coupled with LOLC’s robust infrastructure, has earned deep customer trust across a wide demographic—including SMEs and middle-to-lower-income segments who value both security and ethical financial conduct.
A key distinguishing feature of the Wadi’ah solution is its benevolent cash-advance facility, which allows depositors to access up to 90 per cent of the gold’s value, particularly during times of personal or economic hardship. This facility, offered without any compromise on ethics, provides critical liquidity to customers when they need it most—while maintaining the security of their stored assets.
Commenting on this significant achievement, Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, said: “This Rs. 3 billion milestone is not merely a number—it is a reflection of the deep trust our customers place in us and in the ethical framework we uphold. Our Wadi’ah Gold Storage Facility is built around dignity, security, and accessibility. It ensures that even the most underserved Sri Lankans can store and leverage their wealth without compromising their beliefs or risking unethical practices.”
Adding to this sentiment, Nishantha Jayasekara, Head of Gold Loans – LOLC Finance, remarked, “The consistent growth of the Wadi’ah Gold Storage Facility is a testament to LOLC’s commitment to innovation within responsible finance. Our customers are looking for more than just financial assistance—they seek assurance, transparency, and value.”
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!