LOLC’s scholarship for excellent students among account holders
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LOLC Smart Champ Rewards
LOLC Finance is recognising the outstanding performance of its young account holders by rewarding students who excelled in the Grade 5 Scholarship Examination 2024. This annual initiative is aimed at children maintaining LOLC Smart Champ and Al-Falaah Junior Minor Mudharabah Savings accounts, two unique savings products tailored to nurture financial discipline from a young age.
Students who achieved the national cut-off marks received thoughtfully designed valuable gift packs to signify their academic victory. To be eligible for the reward, the account balance of the child’s Smart Champ or Al-Falaah Junior account was required to exceed Rs. 10,000 at the time of the results announcement on January 23, 2025. These gifts, distributed island-wide, symbolise both a celebration of academic achievement and a reinforcement of the value of consistent saving, the company said in a media release.
Commenting on this initiative, Terence Kaushalya, Assistant General Manager, Savings & Product Development of LOLC Finance said; “At LOLC Finance, we believe that instilling the value of saving in our children is one of the greatest investments we can make for the future of our nation. Through this initiative, we are not only rewarding success, but reinforcing habits that will last a lifetime.”
Further, understanding that the academic excellence should be cultivated with a long-term responsibility, LOLC Finance, through its Alternate Financial Services arm, LOLC Al-Falaah, has launched a series of Grade 5 Scholarship training seminars for the next batch of students, from June to July 2025.
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