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LOLC Al-Falaah secures ‘Best Islamic Leasing Provider – Global’ for the third consecutive year at IFN Awards 2022\

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Reaffirming its status as the most adorned Alternate Financial services brand in Sri Lanka, LOLC Al-Falaah emerged as the Best Islamic Leasing Provider, once again, in the annual Islamic Finance News-Non Banking Financial Institution (IFN-NBFI) Global Polls for 2022. LOLC Al-Falaah has brought glory to the organization by retaining this prestigious IFN-NBFI award for the 3rd consecutive year.

Maintaining consistency in its compliance, innovation and demand-based product offerings, has placed the brand on the spotlight over the years. Global winners of various categories listed in the IFN-NBFI Global Poll were announced on the 5th of December 2022. The prestigious awarding ceremony will take place in Dubai, United Arab Emirates in mid-January 2023.

The annual IFN Best NBFI Poll recognizes the industry leading providers of Islamic financial services across global markets and varied sectors, where votes are casted by readers of IFN, Islamic finance investors, issuers, banking & non-banking financial intermediaries with majority representation from Asia, the Middle East, Africa, Europe and North American regions. This annual global poll is known for their impartiality, independence and inclusiveness in honouring the most outstanding leaders in the global Islamic finance industry.

Speaking about this prestigious win, Head of Alternate Financial Services of LOLC Finance PLC, Shiraz Refai said, “LOLC Al-Falaah has re-established its brand strength yet again with another global level recognition. These constant achievements signify the success in our applications and practices beyond the shores of Sri Lanka in establishing the confidence of our overseas investors and customers. Our record of accomplishments, year after year, demonstrate our passion, persistent efforts and the global standards that we continue to uphold. We are extremely pleased with the results and take humble pride in representing Sri Lanka in a global platform.”

Also sharing his views, Ilsam Awfer, Chief Manager Alternate Financial Services of LOLC Finance said, “This is the third consecutive year that Al-Falaah was recognized at the top-tier ranks at the IFN-NBFI Global Poll. This achievement resembles our commitment towards developing Islamic Finance within Sri Lanka and adopting best practises to serve our valuable stakeholders. I would like to appreciate my team for their tireless efforts and contribution; further would like to thank the top management, members of the Scholarly Supervisory Board and our valued customers for their assistance and patronage. As a result, we have been able to pull through and record these impressive results, year-on-year, and this is a testament to that effort”.

LOLC AL-Falaah is the alternate financial services brand of LOLC Holdings PLC, Sri Lanka’s largest and most diversified multinational conglomerate with operations in 22 countries in Asia and Africa. 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 Bn, coupled with a deposit base of over Rs. 180 Bn. 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.



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Business

Cross-border supply chains seen as key to new business opportunities

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Dignitaries at the launching of the new dhal processing factory.

By Ifham Nizam

Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.

The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.

Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.

‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.

His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.

The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.

Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.

The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.

The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.

But the investment also has a distinctly local agricultural dimension.

Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.

That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.

Duckworth said this type of business partnership could generate benefits for both countries.

‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.

‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.

The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.

For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.

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Ideal Motors makes history with multiple workplace excellence accolades

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Representatives from Ideal Motors (Pvt) Ltd receive top organizational culture and workplace accolades at the Great Place to Work® 2026 awards ceremony.

HR-led transformation places people, culture and business performance at the heart of the organisation

Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.

Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.

The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.

At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.

These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.

Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.

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AAC takes seat belt safety message to Colombo motorists

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AAC staff distribute seat belt safety material to motorists on Galle Face Centre Road, Colombo.

The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.

AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.

The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.

AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.

The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.

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