LOLC Al-Falaah’s scholarship seminars empower young minds of the future

LOLC Al-Falaah’s commitment to social upliftment and financial inclusion is integral to its journey. In a country where financial literacy remains a significant challenge, LOLC Al-Falaah has taken a pioneering step to bridge this gap through its innovative financial literacy and inclusivity social upliftment programs. 
These programmes uniquely blend the ethical principles of Islamic finance with practical financial management tools, fostering a deeper understanding on the principlesof Islamic economic philosophy. 
LOLC Al-Falaah recently conducted a series of Grade 5 Scholarship seminars in nine selected schools across the country as a part of its broader strategy in developing financial literacy and inclusivity. Students from Bandarawela, Polonnaruwa, Horowpathana, Chilaw, Puttalam, Welikanda, Welpothuwewa, Gampola, and Kahatowita benefitted from this initiative. 
The scholarship seminars, fully funded by LOLC Al-Falaah, offered students invaluable guidance from leading experienced teachers and lecturers in the locality, equipping them with the knowledge and insight needed to face the upcoming Grade 5 Scholarship Examinations with confidence.

Additionally, a series of impactful seminars aimed at promoting Minor Savings across selected Muslim schoolswere conductedto instil early savings habits in children. Early savings provide a financial safety net for future needs, enabling children to have a secure financial foundation as they grow into adulthood. 
These efforts emphasize the long-term benefits of consistent saving, such as financial independence and preparedness for unforeseen challenges.LOLC Al-Falaah staff conducted informative sessions on liability products, further reinforcing the value of financial planning and savings within the family unit.
Moreover, LOLC Al-Falaah also organized special Children’s Day events in schools located in Akurana and Galleto coincide with Milad-Un-Nab. The events included a series of school competitions that created a joyous and engaging atmosphere for the children.
In total, these initiatives reached 1,183 students across the nine schools, empowering the next generation with the tools to build strong financial foundations and a brighter future. Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, shared his thoughts on the success of the project, stating, “These initiatives reflect LOLC Al-Falaah’s unwavering commitment to empowering young minds by not only providing them with financial acumen, but also helping students prepare for the crucial Grade 5 Scholarship Examination, which serves as the first major milestone in their educational journey. 
By equipping them with the necessary tools and knowledge, we are ensuring that these students are set on a path to academic success while fostering a culture of saving and financial discipline from an early age, creating a financially empowered future generation.”