Amana Bank has strengthened its position in Sri Lanka’s non-interest-based Islamic banking and finance sector after securing three major honours at the Islamic Finance News (IFN) Awards, including the Best Bank in Sri Lanka title for the fifth consecutive year.
The bank was also named Best Retail Bank in Sri Lanka and Most Innovative Bank in Sri Lanka, highlighting its performance across multiple areas of banking and financial services. The recognitions come as competition continues to grow within Sri Lanka’s Islamic banking and finance sector, which now includes more than 15 institutions providing Islamic financial services.
Organised by Malaysia-based REDmoney Group, the IFN Awards have reached their 20th year and are regarded as a major global recognition platform for institutions and transactions within the Islamic finance industry. Amana Bank Managing Director and CEO Mohamed Azmeer attended the awards ceremony in Dubai and accepted the accolades on behalf of the bank.
The IFN Awards cover key Islamic finance markets across the world, including Malaysia, the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman, Egypt, Pakistan, Bangladesh, Turkey, the United Kingdom, Indonesia and South Africa.
In addition to recognising leading Islamic financial institutions, the awards highlight significant transactions across areas such as Sukuk, sustainability financing, syndicated financing, cross-border financing and social impact financing.
The latest ceremony brought together a range of major players in the international financial sector. Recognition was given to sovereign entities for pioneering Sukuk initiatives, while leading global financial institutions including Standard Chartered and HSBC, international rating agencies such as S&P Global Ratings and Moody’s, and prominent Islamic banks including Al Rajhi Bank, Kuwait Finance House, Dubai Islamic Bank and Abu Dhabi Islamic Bank were also among the recognised organisations.
Commenting on the achievements, Mohamed Azmeer said the bank was honoured to once again receive the Best Bank in Sri Lanka recognition and was particularly proud of securing the award for the fifth consecutive year.
He noted that receiving recognition alongside prominent institutions from the global Islamic finance industry was especially significant, while highlighting that the IFN Awards are determined through a global industry poll.
According to Azmeer, the recognition reflects the confidence Amana Bank has built among stakeholders across the wider Islamic finance community. He also credited the bank’s customers, shareholders, partners, employees and other stakeholders for contributing to its continued progress.
The latest awards further add to Amana Bank’s growing list of international and industry recognitions for its non-interest-based banking model.
Amana Bank PLC operates as a standalone financial institution licensed by the Central Bank of Sri Lanka and is listed on the Colombo Stock Exchange. The Jeddah-based Islamic Development Bank Group is the bank’s principal shareholder.
The IsDB Group is a multilateral development financial institution with an AAA rating and membership comprising 57 countries.
Amana Bank has also been recognised among the Top 50 Strongest Islamic Banks in the World by The Asian Banker, further highlighting its presence within the global Islamic banking sector.
The bank operates without subsidiaries, associates or affiliated institutions, while maintaining a social impact partnership with OrphanCare, where it serves as the organisation’s Founding Sponsor.
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