With the emergence of Islamic Financing around the world, LOLC Finance focused its attention towards Shari'ah Compliant Financing and brought a new facet to the financial services industry of Sri Lanka. Driven by the goal of playing a more active role in developing this sector, we established a dedicated Islamic Business Unit in an effort to ensure that all products and services are handled in accordance with Shari'ah concepts, guaranteeing consistency with Islamic principles at all times.
Al-Falaah, our Islamic Business Unit has strived to take Islamic Financing to greater heights, extending its portfolio to offer a number of profit-sharing investment options to not only the Muslim community but the entire nation at large. We have so far developed 7 main products under our product portfolio: Mudharabah - Profit Sharing Investments – Savings, Wakala – Long Term Investments, Ijarah - Leasing, Murabaha - Trade Financing, Diminishing Musharakah - Property & Project Financing, Musawamah - Import Finance and Wakala - Business and Working Capital Finance.
Our range of Shari'ah-compliant financial services and rewards are tailored to meet life's different needs and recognize what's important to you. As the first finance company registered under the Central Bank of Sri Lanka to be granted approval to extend Shari'ah Compliant deposit accounts, we have in place, an In-House Shari'ah Supervisory Board comprising a local and international blend of eminent scholars and industry leading practitioners of Islamic Finance, who provide advice, guidance and constantly monitor and audit all aspects of the operations. The guiding principles of the Islamic Business Unit ensures that cooperation, trust, honesty and openness are maintained at all times with regard to all transacting parties.
We are relentless in our commitment to providing the best financial solutions and strive to add value to our products to meet the needs of our customers.
We are relentless in our commitment to providing the best financial solutions and with this, we strive to add value to our products with the aim to meet the needs of our customers.