Business
LOLC Al-Falaah Honoured ‘NBFI of the Decade’ at IFFSA 2025
LOLC Al-Falaah, the Alternate Financial Services unit of LOLC Finance PLC, was once again in the spotlight at the 10th Islamic Finance Forum of South Asia (IFFSA) Awards, held on 25th of September 2025 at the Shangri-La Hotel, Colombo. The brand emerged as one of the evening’s biggest winners, reaffirming its position as Sri Lanka’s most awarded and trusted Alternate Financial Services provider and also being recognised as a champion of financial inclusivity amongst other NBFIs in the South Asian region.
Among the prestigious accolades received, the most defining was the honorary recognition for ‘NBFI of the Decade Award’, a rare and historic achievement for any Non-Banking Financial Institution in Sri Lanka. This extraordinary honour, awarded amidst fierce competition from across South Asia, cements LOLC Al-Falaah’s reputation as an industry pioneer and leader that continues to set benchmarks in the region.
In addition to this landmark win, LOLC Al-Falaah secured the coveted Gold Award for ‘NBFI of the Year’, recognizing its excellence in operational performance, product innovation, customer-centricity, and its strong contribution to the Islamic finance ecosystem. Further demonstrating its strength and versatility, the company also received multiple accolades across diverse categories, including NBFI of the Year (Gold), Islamic Finance Entity of the Year (Silver), Window Unit of the Year (Silver), Product of the Year (Silver) for its innovative ‘Wakalah Future Cash Today’ (Factoring) solution, Digital Product/Fintech of the Year (Bronze) for iPay, and Social Upliftment Award (Silver) for its impactful community initiatives executed via the company’s charity fund.
Commenting on the significant victory, Mr. Montini Warnakula, Chief Operating Officer of LOLC Finance, stated, “These awards signify much more than industry recognition. They reflect the depth of innovation, collaboration, and resilience embedded within our teams. At LOLC Al-Falaah, we are focused on building solutions that not only meet customer needs but also anticipate the evolving financial landscape of tomorrow. This recognition motivates us to continue shaping a responsible and dynamic alternate financial services sector that delivers long-term value to customers, communities, and the nation at large.”
Adding further perspective onto this exceptional recognition, Mr. Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, stated, “Being recognized as the ‘‘NBFI of the Decade’ is not only a milestone for LOLC Al-Falaah, but also a defining moment for Sri Lanka’s entire alternate financial services industry. These accolades are a testament to the unbroken faith and trust our customers have placed in us over the years, and for that we remain deeply grateful. More than awards, these recognitions inspire us to push boundaries, adapt to paradigm shifts, and embrace revolutionary changes that continue to reshape the financial services landscape. As Sri Lanka’s most respected, reliable, and future-ready Alternate Financial Services provider, LOLC Al-Falaah remains committed to delivering innovative, sustainable, and impactful solutions to our valued customers while defending this honour with resilience and passion.”
As the Alternate Financial Services unit of one of Sri Lanka’s largest and most diversified NBFIs, LOLC Al-Falaah continues to shape the future of Islamic finance both locally and regionally.
Business
Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook
Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.
The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.
The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.
The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.
Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.
Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.
The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.
Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.
Business
Tata Group leads humanitarian education support initiative with DIMO and ChildFund
The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.
Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.
As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.
This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.
This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.
Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”
Business
NovaNest Properties launches Rainbow Apartments in Ratmalana
NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.
The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.
The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.
Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.
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