CLC-Islamic Finance, the Islamic Business Division of Commercial Leasing and Finance PLC. (CLC) won at the recently concluded annual awards ceremony of the Sri Lanka Islamic Banking and Finance Industry (SLIBFI), capturing gold and winning the Islamic Leasing Company of the Year, as well as a silver accolade for the Islamic Finance Window/Unit of the year.
The SLIBFI awards are one of the most prestigious awards within the Islamic banking and finance sphere, and present an opportunity for all institutions that offer Islamic finance to be recognised for their achievements. SLIBFI and their members comprise of banks, finance institutions, insurance providers, capital market funds, and education institutes.
The annual awards are overseen and adjudicated by KPMG Sri Lanka Chartered Accountants, as well as the Chartered Institute of Marketers (CIM) Sri Lanka.
CLC-Islamic Finance was awarded the best Islamic Leasing company of the Year and they picked up the silver award for the Islamic Finance Window/Unit of the year. The judges took into consideration many factors before awarding these prestigious honours, including the balance sheet growth for the last financial year, number of activities taken place by the financial institutions, distribution network, product development, efforts were made to promote the concept to the public.
During the financial year 2017/18, CLC Islamic Finance recorded a 44% growth in execution with a portfolio close to Rs. 4 Billion and income growth of 88% compared to FY 2016/17.
Ilsam Awfer, Head of Islamic Business Division of Commercial Leasing & Finance PLC, said: “Our main focus is educating customers on this concept, clarify their doubts in Islamic Finance and make them the ambassadors to spread this concept among the society. There are many individuals in the society who does not have a clear idea about Islamic Finance though the concept is originated in Sri Lanka Two decades back”.
With this intention, CLC-Islamic Finance conducted more than 25 awareness programmes during last financial year island-wide.
Commercial Leasing and Finance PLC (CLC), a member of the LOLC Group.
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