Business
LOLC AL-Falaah wins Gold at slibfi awards four years in a row
LOLC Al-Falaah, Sri Lanka’s most awarded Alternate Financial Services brand, has once again proven its dominance in the Islamic Banking and Finance sector by winning four prestigious awards at the 12th edition of the SLIBFI (Sri Lanka Islamic Banking and Financial Industry) awards. The awarding ceremony, held on July 20, 2023, at Shangri-La Hotel, Colombo, recognized the outstanding contributions of LOLC Al-Falaah within the Islamic financial services sector of the country.
At the significant event, Al-Falaah achieved a remarkable feat by receiving multiple accolades. The brand was honoured with the Gold award for Islamic Finance Non-Banking Financial Institute (NBFI) Entity of the Year, where in previous years the category availability for NBFI was the recognition for the ‘Islamic Leasing Company of the Year’ award. Impressively, this marks the fourth consecutive year that Al-Falaah has secured this esteemed title in the NBFI category.
Additionally, it also secured the Silver award for Islamic Finance Window/Unit of the Year, and the Bronze award for Islamic Finance Entity of the Year. In a notable addition to its already impressive list of achievements, LOLC Al-Falaah’s very own Ash-Shaikh Fazil Mohamed was honoured this year with the highly esteemed ‘Rising Personality of the Year’ award.
The SLIBFI awards, initiated by UTO EduConsult (UTO), aim to recognize the remarkable efforts made by the Islamic Banking and Financial sector in Sri Lanka. A panel of reputed judges evaluates the initial screening of the applications and profiles, in a three-tier process, based on audited financial data from the year under consideration and forward to the independent adjudicators KPMG, Sri Lanka to review the submissions and determine the final winners.
LOLC Al-Falaah has been a trendsetter in Sri Lanka’s non-interest based financial services landscape. It stands as the first licensed NBFI to offer a comprehensive 360-degree Islamic Finance product portfolio since its inception, making it a pioneer in the country’s Alternative Financial Services sector. LOLC Al-Falaah operates under the umbrella of LOLC Holdings PLC, Sri Lanka’s largest and most diversified multinational conglomerate, with a presence in 25 countries across Asia and Africa. As a Strategic Business Unit (SBU) of LOLC Finance PLC (LOFC), the brand dominates the alternate financial services segment in Sri Lanka.
Commenting on the achievement, Shiraz Refai, Head of Alternate Financial Services at LOLC Finance, highlighted the key factors contributing to the success of LOLC Al-Falaah. He said, “Our achievements stem from a robust and compliant business model, an extensive range of products, and the strong brand presence of LOLC. Leveraging advanced technological platforms has been instrumental in revolutionizing LOLC Al-Falaah and gaining consistent recognition and accolades, both within Sri Lanka and on the global stage. The recognition received at the 12th SLIBFI Awards reaffirms LOLC Al-Falaah’s position as a leading force in the Alternate Finance services sector, and it is undoubtedly an inspiration to the entire industry.”
Ilsam Awfer, Chief Manager of Alternate Financial Services at LOLC Finance PLC, expressed his sincere gratitude to the brand’s esteemed customers and stakeholders, stating, “We are humbled and grateful for the trust and support our valued customers and stakeholders have shown us during our 15-year journey. I would like to commend the dedication shown by our committed staff members. At LOLC Al-Falaah, our unwavering commitment has been on providing services that meet our customers’ essential business needs while offering them a sense of spiritual comfort.”
LOLC Al-Falaah has demonstrated exceptional performance in the past financial year, with significant growth in various key metrics. Total assets experienced a remarkable 29% increase, customer deposits grew by an impressive 83%, revenue surged by an outstanding 97%, and profit before tax rose by a notable 33% when compared to the previous financial year. Operating through 200 branches strategically located across the country, LOLC Al-Falaah ensures accessibility for its customers. The brand also offers the convenience of reaching investments and savings accounts through LOLC Real-Time Internet Banking and its Digital Banking App, iPay.
Business
HNB Assurance Elevates ‘Liya Harasara’ 2026 with Unmatched Benefits to Honor the Spirit of Womanhood
HNB Assurance PLC launched the 2026 edition of Liya Harasara, its flagship annual initiative dedicated to celebrating and empowering women in line with International Women’s Day. Recognized as one of the most anticipated campaigns of the year, Liya Harasara continues to evolve, delivering meaningful protection and exclusive privileges designed to support women in every stage of life.
This year’s edition introduces the most rewarding benefits in the history of the initiative. Women who sign up for eligible Regular Premium Life Insurance policies will receive a Free Life Cover of up to Rs. 2 Million for one year, along with a Free Critical Illness Benefit of up to Rs. 500,000, providing enhanced financial security and reassurance when it matters most. Additionally, female policyholders are also entitled to pregnancy related hospitalization cash benefit for Life Insurance Policies with in-force Hospitalization Benefit, for a maximum of three days per annum.
Commenting on the significance of this year’s campaign, Lasitha Wimalarathne, Executive Director / CEO of HNB Assurance, stated: “As we mark our 25th year as a trusted life insurer, we wanted Liya Harasara 2026 to reflect the strength of the journey that brought us here. For 25 years, women have been at the heart of our story, as leaders, advisors, customers and changemakers. This special edition is our way of honoring that partnership and reaffirming our commitment to protecting their aspirations for the future. When women progress, families prosper and communities thrive and we are proud to stand by them with meaningful protection and lasting assurance.”
Sharing his thoughts, Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer of HNB Assurance, added, “Liya Harasara has grown into more than just an annual campaign, it is a tribute to the Spirit of Womanhood, to resilience, ambition and strength. The 2026 edition has been thoughtfully enhanced to deliver greater value and deeper impact, ensuring women receive protection that truly supports their ambitions and wellbeing. We remain committed to creating solutions that empower confidence and provide peace of mind, enabling women to focus on achieving their goals without compromise.”
Business
Seven decades of sartorial excellence: The legacy of Linton Master Tailors in Kandy
In the 1950s, Linton Wimalasena Udagagedara served as the tailoring instructor at the rehabilitation unit of the Bogambara Prison. Known affectionately by all as “Linton Master,” he laid the foundation for a legacy that would eventually redefine men’s fashion in the hill capital.
In 1958, Linton Master ventured into private business by renting a small shop in Trincomalee Street, Kandy, under the name “Linton Master Tailors.”
Supported by a handful of employees and the unwavering strength of his wife, Srima Alwala, the business began its humble journey. In those early days, Linton Master would travel from Kandy to Pettah, Colombo, walking miles to handpick high-quality fabrics at affordable prices. Though the initial years were a struggle, he never compromised on quality.
Due to his commitment to superior craftsmanship and impeccable finishing, “Linton Master’s Shop” in Trincomalee Street soon became a household name across the Kandy region. By the 1970s, the thriving business moved to Yatinuwara Veediya. As the enterprise grew, Linton Master eventually purchased the rented building and the adjacent premises. In the 1990s, the brand reached its zenith, becoming a hallmark of excellence.
Following the passing of Linton Master in 2009, the business transitioned into a new era. Today, it stands proud at the same familiar location in Yatinuwara Veediya, rebranded as “Linton & Sons Master Tailors.” His legacy is carried forward by his children; while one son manages a printing press and a daughter runs a bridal wear brand under the Linton name, his son Nidarshana Udagagedara has significantly expanded the core tailoring business.
Today, Kandy is home to three main institutions bearing the prestigious Linton brand. Linton & Sons Master Tailors, now employing around 20 skilled professionals, is a nationally recognized name. Known for their international standards, it is said that anyone who gets a full suit tailored at Linton & Sons invariably returns for their second.
The business that once started with fabric handpicked from Pettah now utilizes world-renowned international brands. Linton & Sons is currently the only tailor shop in Kandy that creates garments using prestigious fabrics such as Raymonds, Pacific Gold, Medici, and Macone.
Current Chairman Nidarshana Udagagedara notes that they serve a loyal customer base, with complete groom’s suit packages ranging from Rs. 30,000 to Rs. 90,000. With a highly experienced team, they now offer an exclusive one-day service, allowing customers to have bespoke designs created to their exact specifications in record time.
Spanning seven decades, the Linton lineage, which has brought fame to Kandy, has now successfully expanded from the second generation to the third, ensuring that the master’s stitch continues to define elegance for years to come.
By S.K. Samaranayake
Business
LANKATILES Captivates Architect 2026 with a Spectacular Celebration of Fine Living
At the prestigious Architect 2026 Exhibition, LANKATILES unveiled an immersive Concept Studio of contemporary design, where every surface spoke in allusive ways of exquisite craftsmanship and architectural vision.
Among a host of outstanding participants, the Concept Studio was recognized with two of the exhibition’s highest accolades: Overall Best Stall and Best Trade Stall Displaying Local Products. This is a resounding testament to five decades of trust, quality, and innovation.
The Concept Studio was thoughtfully zoned to evoke the ambiance of curated interiors and sophisticated entryways, unveiling the latest designs introduced to the market. Visitors were guided through a seamless spatial journey, beginning with the Living Zone, where expansive surfaces harmonized durability with refined design to elevate everyday living. The Kitchen Ambience Zone presented a contemporary culinary environment enriched with elegant finishes, demonstrating how functionality and elevated aesthetics coexist in modern homes.
The experience continued into the Bedroom Zone, an intimate and serene setting curated with soothing palettes and luxurious surfaces to create a tranquil retreat defined by comfort and understated elegance. Complementing this was the Bathware Zone — a sanctuary of calm showcasing precision-crafted porcelain surfaces that seamlessly blended purity of form with superior performance, redefining modern bathroom sophistication.
Extending beyond interiors, the Poolside Zone highlighted elegant outdoor settings framed by resilient, high-performance tiles, where aesthetic excellence met enduring strength in expressive interpretations of contemporary luxury. Featuring the latest Mosaic designs alongside the grand large-format tile series, Majestica, each zone illustrated how LANKATILES transforms raw materials into architectural poetry, reinforcing its leadership in innovation and design excellence.
Another defining feature of the Concept Studio was the AI-powered Tile Visualizer; an advanced digital interface designed to offer architects and homeowners an intelligent and immersive visualization experience that redefines the way interiors are selected and conceptualized. Within minutes, users can upload an image of their dream space and instantly explore precisely matched tile designs and colour palettes tailored to their aesthetic preferences.
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