LOLC Al-Falaah wins multiple golds at Sri Lanka Islamic Banking and Financial Institution Awards

LOLC Al-Falaah was felicitated with two prominent awards within the Islamic Banking and Finance services sector in Sri Lanka, at the 11th edition of the SLIBFI (Sri Lanka Islamic Banking and Financial Institution) awards. 
Securing the Gold award for ‘Leasing Company of the Year’ and Gold award for ‘Window of the Year’ were significant, as LOLC Al-Falaah have won these awards consecutively over the years.  

Whilst receiving the Bronze award for ‘Entity of the Year’, an innovative product option ‘Wakalah Speed-Draft’ launched earlier in the year secured the Bronze award for ‘Product of the Year’. With the newest additions, Al-Falaah reaffirms the trust placed in them persistently, as the ‘Most awarded Alternate Financial services provider in Sri Lanka. 

Commenting on the remarkable achievement Director/ Chief Executive Officer of LOLC Finance PLC, Krishan Thilakaratne said, “These constant awards we receive reinstates that LOLC Al-Falaah is ahead of the curve in terms of market leadership, innovation and trust, under the umbrella of the largest NBFI in the country, LOLC Finance.  We compete even with other banks because of its sound portfolio quality which is 100 percent asset backed. Our non-performing loans too are the lowest in the industry which reflects the credit quality and professional management of our finances”. 

Also commenting, Shiraz Refai, Head of Alternate Financial Services, LOLC Finance said, “Our commitment to ensuring our Customers financial needs are tailor-made to modern-day complex requirements, together with emphasis on determination and attention-to-detail, customer care service offered by LOLC Finance staff are the key reasons that we were honoured by these multiple awards.” 

LOLC Al-Falaah functions directly under the auspices of LOLC Finance PLC, with a total network of 210 branches, and an active customer base of over 600,000, a total lending portfolio amounting to over Rs.200 billion, coupled with a deposit base of over Rs.180 billion. LOLC Finance which is a Regulated Finance Company of the Central Bank of Sri Lanka (CBSL) is rated [SL] A STABLE by ICRA Lanka Limited.