Opportunities for Further Growth of Sri Lanka’s Islamic Banking and Islamic Capital Market
  • IN ASSOCIATION WITH

Date: 21st October 2014 Venue: Cinnamon Grand, Colombo

Sponsors & Partners

IN ASSOCIATION WITH

Amana Bank

Website: www.amanabank.lk/index.php/en/

Amana Bank is the pioneer and market leader of the Islamic banking industry in Sri Lanka.

The journey to establish Sri Lanka’s first licensed commercial bank to operate fully on the principles of Islamic banking began in 1997. Introducing crucial changes to the Banking Act in 2005 to permit Islamic banking products in Sri Lanka was a significant achievement in this journey. Following this Amana Bank was licenced by the Central Bank of Sri Lanka to carry out Shariah compliant banking and the bank commenced operations on the 1st August 2011.

Today the bank operates with a reach of 24 strategically located branches while providing access to 600 plus ATMs across the island and offers the full spectrum of consumer banking, SME banking, corporate banking, trade finance and treasury services with a wide array of products and services catering to the varying needs of customers.

Guided by strong principles and values, Amana Bank offers a new way forward in banking in Sri Lanka with its unique Islamic banking proposition with open doors to all communities irrespective of class, creed or ethnicity.

The bank is powered by the stability and support of its institutional strategic shareholders such as Bank Islam Malaysia, the IDB and AB Bank in Bangladesh as well as local giants Akbar Brothers and Expolanka Holdings.

MULTILATERAL STRATEGIC PARTNER

The Islamic Corporation for the Development of the Private Sector (ICD)

Website: www.icd-ps.org

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group.

The ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to governments and private companies and encouraging cross-border investments.

The ICD has an authorized capital of US$4 billion. Currently, the shareholders of the ICD are the IDB (50%), 53 Islamic countries (30%) and five public financial institutions (20%).

ICD mandate and objectives

The ICD fosters sustainable economic growth in its 53 member countries by:

  • Financing private sector investment
  • Mobilizing capital in the international financial markets, and
  • Providing advisory services to business and governments. 

The ICD selects the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports, etc. The ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and to enhance the role of the market economy. The ICD operates to complement the activities of the IDB in member countries.

The ICD is rated ‘AA/FQ’ by Fitch Ratings, ‘Aa3/P-1’ by Moody’s Investors Service and ‘A+’ by Standard & Poor’s.

FOR MORE INFORMATION

Tel: (966-12) 6361400; (966-12) 6441644

Fax: (966-12) 644 4427

Email: [email protected]

Website: www.icd-ps.org

ASSOCIATE PARTNERS

Al-Falaah, Islamic Business Unit of LOLC Finance PLC.

Website: www.lolcfinance.com

Al-Falaah, Islamic Business Unit of LOLC Finance

Al-Falaah, the Islamic business unit of LOLC Finance was established in 2007 and functions directly under the auspices of LOLC Finance which is one of Sri Lanka’s largest non-banking financial institutions. LOLC Finance is a regulated finance company of the Central Bank of Sri Lanka and is rated ‘(SL) A’ with a stable outlook by ICRA Lanka; a wholly-owned subsidiary of ICRA and an associate of Moody’s Investors Service.

Al-Falaah offers 360-degree financial solutions under the concepts of Mudarabah/profit sharing investments; Wakalah/term deposits; Ijarah/leasing; Murabahah/trade finance; Musawwamah/import finance; diminishing Musharakah/property and project finance; and Wakalah lending/business and working capital finance from its 100+ LOLC Finance branches and six dedicated Al-Falaah centers island-wide.

Al-Falaah clinched the top Gold award for being adjudged the ‘Islamic Finance Entity of the Year 2014’ at the 4th Sri Lanka Islamic Banking & Finance Industry Awards as well as Gold awards for the ‘Social Upliftment – (CSR)’ category in multiple years.

Al-Falaah has also been recognized globally on several occasions over the years. Its most recent was when it won an award at REDmoney’s Islamic Finance news (IFN) Best Banks Poll 2014 where it was adjudged as the runners-up in the category of ‘Best Islamic Bank by Country – Sri Lanka’. Al-Falaah was further ranked 3rd in the ‘Best Islamic Leasing Provider’ category in 2014 and runners-up in the same category in 2015, becoming the only Sri Lankan financial institution to gain recognition for the region in those two years.

Amana Takaful Life

Website: www.takaful.lk

Amana Takaful, the pioneer and only fully-fledged Takaful operator in Sri Lanka, since its inception 15 years ago, has been able to gain considerable ground in a market dominated by conventional insurers. The company has captured an admirable market share and acceptance among Muslims and non-Muslims alike in a very competitive market within this period. Amana Takaful is listed in the Colombo Stock Exchange and provides life and general insurance solutions to both corporates and individuals.

The countries only Takaful operator, Amana Takaful is committed to serve all segments of the society through its extensive branch network in the country. The company recently also announced a 15% ‘surplus’ payment to its non-claimant general policy holders upholding the true spirit of the Takaful concept.

Amana Takaful Maldives

Website: www.takaful.mv

Amana Takaful Maldives has been in operation since 2003 and is a fully-fledged licensed general insurance company in the Maldives. Currently we stand proud as the only publicly quoted insurance company offering Shariah compliant stock in the Maldives listed in the Maldives Stock Exchange (MSE).

The commitment of our staff to provide the highest levels of service, in line with an outstanding portfolio of Takaful insurance solutions, has helped us build a robust business based on trust and reliability. The relationships we have developed with our clients, over the years, stand to bear testament to this.

Amana Capital

Website: Information to be updated soon.

Amana Capital is Sri Lanka’s first only fully Shariah compliant investment bank. We provide a full range of advisory services including debt structuring, mergers and acquisitions, capital structuring and company valuations. We are also Sri Lanka’s largest Shariah compliant fund manager and we offer customized private wealth management solutions to high net worth individuals and fund management and investment advisory services to corporates.

Our in-depth understanding of market dynamics and sound technical expertise drive informed advice to clients. ACL’s fund management team provides advice on multi-asset class portfolios and consists of personnel with exposure to local and international capital markets.

Amana Global

Website: www.amanaglobal.com

We leverage specialist insight and financial acumen to deliver a breadth of services including customized sustainable financial advisory services on debt and equity financing, wealth management and corporate advisory sought after by corporates as well as high net worth individuals.

Unbound by geography, we seek opportunities in attractive markets where businesses, institutions and individuals can create and achieve financial value. In doing so, we source cross border expertise and research through our network to unleash limitless possibilities.

In light of growing interest in Shariah compliant finance, we are committed to enhance industry knowledge through shared learning, developing innovative financial solutions and opening channels to enable enterprise.

Islamic Banking Intelligence

Website: islamicbankingintelligence.com

EXECUTIVE PARTNERS

Deutsche Bank

Website: https://www.db.com/index_e.htm

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 74 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.

Emirates NBD Group

Website: www.emiratesnbd.com/en/

Emirates NBD Group

Emirates NBD is a leading banking group in the region. As at the 31st December 2016, total assets were AED448 billion (equivalent to approximately US$121.94 billion). The group has a leading retail banking franchise in the UAE with more than 219 branches and over 1,012 ATMs and CDMs in the UAE and overseas. It is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, global markets and treasury, investment banking, private banking, asset management and brokerage operations.

The group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the UK and representative offices in India, China and Indonesia.

The group is an active participant and supporter of the UAE’s main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.

Emirates NBD Capital

Emirates NBD Capital (EmCap) is the investment banking subsidiary of the Emirates NBD Group, licensed to operate in the Dubai International Financial Center. EmCap comprises an experienced team of professionals combining an international perspective with in-depth regional knowledge spanning debt capital markets (DCM), syndicated/club loans, financial advisory, equity capital markets and project finance. The DCM franchise of Emirates NBD is a leading bond and Sukuk house globally and has helped issuers raise approximately US$60 billion in capital market issuances since 2013. The product suite includes Sukuk (rated and unrated), conventional bonds, subordinated structures and private placement transactions.

IdealRatings

Website: www.idealratings.com/

IdealRatings was incorporated in 2006 in San Francisco with a corporate objective to provide SRI/ESG and Shariah compliant solutions to ethical investors and enable them to identify such instruments across different asset classes in the global market. IdealRatings serves clients in over 30 countries with a range of capital market solutions including:

  • Equities – A web-based platform covering over 40,000 stocks, where fund managers can screen equities using different, custom-built ESG/SRI/Responsible Investments and Shariah rulebooks or guidelines. This solution caters to different purification calculation methodologies with a comprehensive set of reports for fund managers to manage their portfolio. 
  • REITs – Global coverage of all listed REITs that could be screened in accordance with different standard Shariah rulebooks or guidelines. 
  • Indexes – Co-branded and jointly marketed by FTSE-Russell Indexes and a separate series with Thomson Reuters for the global markets, designed for fund management and investment benchmarking. In addition, IdealRatings is able to provide custom-built indexes for the fund management industry. 
  • Sukuk – A unique solution which includes the global Sukuk and a pioneering Sukuk-screening solution that enables fund managers to customize their Sukuk selection in accordance to their Shariah rulebook, guidelines or investment preference, and 
  • Brokerage – The solution provides broking houses the ability to screen global equity markets, a technical analysis of the markets and equities, buy/sell/hold recommendations and purification amounts.

 

 

Richard Pieris Arpico Finance

Website: www.rpfinancelk.com/

Richard Pieris Finance (RPFL) is a finance company licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No.41 of 2011 and it is a subsidiary of Richard Pieris & Company, one of the largest and most successful diversified business conglomerate established in 1932 and listed in the Colombo Stock Exchange in 1951. The group has currently more than 30,000 employees. Its main business sectors include retail, plantations, tyre, plastics, rubber, export and other services including stock brokering, insurance and other financial services.

RPC Group has actively been involved in the finance sector during its long history. To further strengthen the financial services sector of the group as well as to harness the opportunities of the post-conflict era, the group launched RPFL on the 5th September 2012, however business operations commenced in April 2013. The Islamic financing arm of the RPFL commenced operations in July 2013 and offers a wide range of Islamic financial products and services; the Islamic finance unit has been branded as ’ARIJ’.

Russell Indexes

Website: www.russell.com/indexes/

Russell Indexes offers a comprehensive family of global equity indexes that give investors and fund managers a more precise view of the markets, provides a basis for investments, benchmarks and track performance of distinct segments consistently. The resulting index methodology produced the broad-market Russell 3000® Index for the US market and a series for the global markets. Russell Indexes also pioneered the Value, Style, Growth, Stability and Theme-based Indexes. Russell Indexes has partnered with IdealRatings to co-brand the Islamic index series for the global markets. The Islamic indexes are supervised and audited by the Shariah Supervisory Board.

Russell Indexes calculates more than 700,000 benchmarks daily, covering 98% of the investable market globally, 83 countries and more than 10,000 securities. Approximately US$5.2 trillion in assets is benchmarked to the Russell Indexes.

LANYARDS SPONSOR

World Vest Base

Website: www.wvb.com

World Vest Base provides a broad range of informational products directed at institutional investors, universities, bankers, analysts, tax and audit practitioners, government agencies and asset managers, M&A, private capital, equity and fixed income markets.

The company’s latest offering includes the WVB Shariah Compliance Ratings which is a relational database of financial, statistical and market information on active and inactive global companies.

The database covers 153 countries with over 44,600 active listed companies and 30,000 inactive companies. This covers approximately 99% of all listed companies and a global market capitalization of almost 100%.

WVB data is based on the country of incorporation. It describes a company as a legal entity, not individual issues or listings and offers complete documents with indexed financial transparency to the data.

For more information, visit www.wvb.com

LEAD MEDIA PARTNER

Islamic Finance news

Website: www.islamicfinancenews.com

Islamic Finance news is the industry's leading, capital markets focused, e-newsletter bringing you unrivalled editorial coverage every week on the global Islamic financial market.

This weekly newsletter provides insightful and intelligent editorial coverage from around the world helping you keep ahead. In addition to a comprehensive weekly review of all the stories from around the globe, interviews, forums, market statistics and data, key industry practitioners contribute via non-biased, educational and up-to-date country and sector reports, giving you a firsthand knowledge and understanding of the Islamic finance markets and instruments from an experts' point of view.

For a trial subscription, please contact +603 2162 7800 or email [email protected]

STRATEGIC MEDIA PARTNERS

Business Islamica

Website: businessislamica.com/

Launched in November 2006, Business Islamica is the first monthly magazine of its kind in the UAE, specifically covering all aspects of Islamic business and finance, both regionally and internationally.

The magazine’s objective is to spearhead awareness initiatives, heighten knowledge of its core principles and practices, as well as to feature the latest developments in this industry.

Our editorial covers interviews with key industry leaders, case studies, and includes features on a wide range of topics such as; Islamic Banking, Wealth Management, Takaful (Islamic Insurance), Islamic Retail Finance, Marketing and Branding of Shari’ah-Compliant products, Regulatory Issues, Islamic Business Challenges and Risk Management.

Capital Business

Website: www.capitalbusiness.me

Capital Business Magazine is a B2B English monthly publication focusing on business best practices and is a publication accredited by the Dubai International Financial Centre (DIFC). It enjoys a sizable footprint in the Middle East on the strength of feature articles contributed by certified financial and business experts, as well as coverage of a broad spectrum of topics including banking, IT, oil & gas, real estate and construction, human capital, risk management, corporate finance and cash management, corporate governance, investments, IPOs, tools of trade and more.

MEDIA PARTNERS

Voices of Leaders

Website: voicesofleaders.com

Voices of Leaders (VL) is a global business network for top executives and companies to Meet, Share and Grow locally, regionally and internationally.

The data-driven business profiles allow you to Meet top executives across a wide variety of industries, sectors and countries. Share your business needs among members looking for specific business opportunities and Grow your business network at a local and international level, while increasing the possibility of creating synergies, and finding partners and investors.

VL is committed to giving leaders from around the world a voice and in response to the demands of the digital age, VL produces interactive ebooks on the countries visited and the networking events it covers.

WORLD CSR DAY

Website: www.worldcsrday.com

The WORLD CSR DAY is guided by Leaders.... Leaders who believe in the value of Sustainable CSR; that which is built in the fabric of business - making it a reality. Leaders produce Leaders will be a common thread uniting nations and people who take CSR more responsibly. They also believe that CSR is a tool to the Development of the Future. Leaders, Professionals, CSR Practitioners, CEOs, Sustainability Experts and Media honchos in different parts of the world will help in spreading the message of World CSR Day. Let’s Unite the World with the Spirit & Energy for conscious CSR. (www.worldcsrday.com)

 

 

 


IN ASSOCIATION WITH

Amana Bank

MULTILATERAL STRATEGIC PARTNER

The Islamic Corporation for the Development of the Private Sector (ICD)

ASSOCIATE PARTNERS

Al-Falaah, Islamic Business Unit of LOLC Finance PLC.
Amana Takaful Life
Amana Takaful Maldives
Amana Capital
Amana Global
Islamic Banking Intelligence

EXECUTIVE PARTNERS

Deutsche Bank
Emirates NBD Group
IdealRatings
Richard Pieris Arpico Finance
Russell Indexes

LANYARDS SPONSOR

World Vest Base

LEAD MEDIA PARTNER

Islamic Finance news

STRATEGIC MEDIA PARTNERS

Business Islamica
Capital Business

MEDIA PARTNERS

Blassys
Echelon
Eyes of Riyadh
Financial Bridges
Inovatif Media Asia
Voices of Leaders
WORLD CSR DAY