Al-Falaah, the Islamic Business Unitof LOLC Finance PLC has been recognized globally on multiple occasions for the financial year 2016/17 by winning several awards at globally recognised award presentations.
Al-Falaah secured the ‘IFN Deal of the Year for Sukuk (Alternate option for Securitization)’ at the ‘IFN Deals of the Year for 2016’ awards ceremony held on the 28th of February 2017at the Ritz Carlton, DIFC Dubai UAE.
This was the first year that Al-Falaah was eligible to compete for the subject category, as it developed a signature financial instrument that can be offered as an alternate format for the conventional securitization product. This award is significant not only by its own right;it signifies innovation, industry value addition, raising local standards and international benchmarking.
Krishan Thilakaratne, LOLC Group Head of Islamic Finance said, “We are excited to accept these accolades which adds to our list of global recognitions in the Islamic Finance space locally as well as internationally.”
Shiraz Refai, Deputy General Manager, Al-Falaah Islamic Business Unit of LOLC Finance said, “Securing the IFN Deal of the Year 2016 is both a first for us as well as the Islamic Finance industry in Sri Lanka. Being recognized under the IFN Global Best Banks Polls is always phenomenal to Team Al-Falaah.”