Business
Lolc Al-Falaah voted Best Islamic Leasing Provider at ifn Global Poll 2024
LOLC Al-Falaah, the alternate financing unit of LOLC Finance, has once again cemented its legacy as a trailblazer in the Islamic finance landscape by being voted the “Best Islamic Leasing Provider (Global)” in the IFN Non-Banking Financial Institutions Poll 2024. This marks the third time in four years that Al-Falaah has achieved this No.1 position in this global accolade, underscoring its excellence as the most preferred alternate financial services provider.
The annual IFN Best NBFI Poll recognizes industry-leading providers of Islamic financial services across global markets and varied sectors. This year, it attracted record-breaking participation from voters in Asia, the Middle East, Africa, Europe, and North America, highlighting the vibrant global Islamic finance sector. The global winners of various categories listed in the IFN-NBFI Global Poll were announced on the 17th of November 2024, with the prestigious awarding ceremonies set to take place in Dubai, United Arab Emirates, and Kuala Lumpur, Malaysia, in mid-February 2025.
LOLC Al-Falaah’s innovative product portfolio, which spans nine key offerings—including investment instruments, leasing, trade finance, and real estate finance—continues to redefine industry standards. Notably, Al-Falaah pioneered Sri Lanka’s first Wadi’ah gold storage facility, providing a Shari’ah-compliant alternative to conventional gold loans, a portfolio that has surpassed an impressive LKR 2 billion this year. The company’s unwavering commitment to innovation, financial inclusivity, and exceptional customer care has resonated deeply with its clientele, earning it both local and global acclaim.
This recognition comes as LOLC Al-Falaah operates within the formidable framework of LOLC Finance PLC, which holds over 20% of Sri Lanka’s NBFI asset portfolio and boasts a robust balance sheet exceeding Rs. 200 billion. Through its 213-strong branch network and a team of dedicated professionals, Al-Falaah ensures that its tailored solutions are accessible to all Sri Lankans, irrespective of background. As the second-largest alternate finance provider in the country, Al-Falaah commands a total asset base of over Rs. 35 billion, serving more than 65,000 active clients.
Reflecting on this achievement, Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, shared, “This recognition is a testament to our steadfast focus on achieving excellence in every facet of our operations. From product innovation to customer care and social responsibility, we strive to set benchmarks that resonate with the needs and aspirations of our communities. Being voted the Best Islamic Leasing Provider is a humbling honour that inspires us to continue empowering lives and fostering economic stability through Shari’ah-compliant financial solutions.”
Adding to this, Shafin Iqbal, Manager, Institutional Marketing at LOLC Al-Falaah, expressed, “In the highly competitive and fast-paced industry, receiving a global award is a true testament to the creativity and the innovative impact of the brand’s communication efforts. LOLC Al-Falaah winning the prestigious IFN Award for the ‘Best Leasing Provider, Global’ category recognizes its approach in connecting with various stakeholders across multiple regions and also takes a closer look at the well-executed marketing communication strategies and cross-functional collaboration that led to this remarkable achievement. This win reflects the trust and loyalty of our customers and the support of our communities, whose voices have driven us to this pinnacle of success.”
LOLC Al-Falaah’s enduring success is a powerful affirmation of its comprehensive approach, combining exceptional financial performance with deep-rooted ethical values. This latest recognition not only celebrates its achievements but also reinforces its vision of driving sustained growth and inclusivity, ensuring a brighter future for all Sri Lankans.
Business
SLEIS 2026 to examine Sri Lanka’s energy transition and its implications
Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.
The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.
Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.
The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).
Business
A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem
The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.
Establishment of the New Advisory Committee
To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:
• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.
• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.
• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.
New Trustee Appointment
Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.
A Vision for the Future
“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.
Business
Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community
Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.
The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.
Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.
-
News7 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Features7 days agoWhy the spelling Sri Lankan names in English vary
-
Features7 days agoThree bands, a new identity: Sri Lankan wolf snake recognised as distinct species
-
Business7 days agoSLIIT holds largest-ever convocation
-
News7 days agoVehicle prices drop by up to Rs. 1 mn, says importers’ body
-
News7 days agoGovt monitors reported Saudi death sentence – Foreign Ministry
-
Business7 days agoLanka’s famed beach shack battles demolition
-
Business7 days agoAll-new Bolero MaXX Pik-Up unveiled in Lanka
