NDB felicitated at International Finance Awards 2021

• Only Sri Lankan bank to win two awards

National Development Bank PLC (NDB) was awarded Best Islamic Finance Bank – Sri Lanka 2021 and the Best Project and Infrastructure Finance Bank – Sri Lanka 2021, at the International Finance Awards 2021.

Launched in 2014 as the Islamic window of Sri Lanka’s NDB, NDB Shareek has grown to be one of the country’s largest Islamic banking platforms.

NDB’s Shareek Islamic banking caters to an array of diverse customers across industries and value chains. Its products are tailor-made to fulfil the requirements of individuals, SMEs as well as corporates for the purposes of housing, project financing for hydropower generation, poultry, solar and manufacturing.

All facilities that are offered to customers are carefully evaluated to ensure the end use of funds is according to the Sharia principles.

The Mudharabah deposits offer attractive returns from small to high-net-worth individuals. In line with the bank’s strategic thrust towards empowering women, NDB has hitherto tapped an unbanked segment in Islamic finance through mobilising deposits from women through the Araliaya proposition. These accounts offer bundled facilities, including insurance services, cards and a range of other benefits. It is currently the only Islamic banking product in the Sri Lankan market designed exclusively for women. 

The bank has also expanded its privilege banking proposition to its Islamic finance customers, through NDB Shareek - a holistic proposition targeted at fulfilling both the investment and funding requirements of high-net-worth individuals. Shareek offers tailor-made solutions combined with excellent customer service and a network of islandwide customer contact points. NDB Shareek Islamic banking services are available through all business centres of NDB, ranging from corporate banking, project financing, business banking, privilege banking for high-net-worth customers and retail banking.

In the year 2020, NDB Shareek, the Islamic banking unit of NDB, was awarded the prestigious Islamic Bank of the Year – Sri Lanka 2020 by the globally renowned Financial Times’ publication, ‘The Banker’ amid strong competition from domestic as well as regional and global competitors.