‘CLC - Islamic Finance’ wins Gold at the 6th SLIBFI Awards
The Islamic Business Division (IBD) of Commercial Leasing & Finance PLC (CLC), the newest addition to the Islamic Banking and Finance Industry has won the Gold Award for the ‘Emerging Islamic Finance Entity of the Year 2016’. This award was bestowed upon CLC’s Islamic Banking division, at the 6th Sri Lankan Islamic Banking and Finance Industry Awards (SLIBFI) 2016 which was held in Colombo recently. CLCIslamic Finance successfully completed its first year in operations in August 2016 with a remarkable financial performance.
In-House Shari’ah Advisor of CLCIslamic Finance, Ash-Shaikh Zaid Nooramith was awarded with the Gold Award for ‘Rising Islamic Finance Personality of the Year 2016’ as the first scholar to receive such recognition.
Commercial Leasing and Finance PLC (CLC), commenced Islamic Finance in August 2015 to offer a complete Shari’ah compliant product range to its’ customers.
IBD formed a Shari’ah Supervisory Board with locally and internationally recognised 03 Scholars namely AshShaikh Fazil Farook (Chairman), AshShaikh Murshid Mulaffar (Member) and Ash-Shaikh / Mufthi Shafique Jakhura (Member) to ensure the compliancy in each transaction. Further, the business unit marked its segregation clearly to make the operation fully Shar’ah compliant and acceptable. IBD was commenced with a fully-fledged product range to serve all customer requirements such as, Profit Sharing Investments and Saving Accounts (Mudharabah), Term Investments (Wakala-Investments), Leasing (Ijarah), Trade Finance (Murabaha), Property and Working Capital Finance (D. Musharakah), Business and Working Capital Finance (Wakala-Lending).
Today, CLC-IBD has become a dynamic player in the Islamic Banking and Finance industry offering a complete range of Alternate finance through more than 60+ CLC Branches island wide with 03 dedicated Islamic Finance Service Centers at Eastern Province.
Within a short span of time, CLC-IBD was able to gain the trust and recognition among the Customers and the Islamic Banking and Finance Industry in Sri Lanka. CLC-IBD was able to reach its’ target customer base through a complete product range, customer first approach. Furthermore, all CLC staff members were aptly trained to cater to the discerning requirements of the customers seeking a superior level of Alternate Finance solutions.