LB Finance installs new Sharia Supervisory Board

29 October 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

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LB Finance Al Salamah - the Islamic Banking Unit of LB Finance PLC, recently installed a new Sharia Supervisory Board as a part of the many enhancements done by the Company to offer its customers the best possible service.

The newly appointed Sharia Supervisory Board comprises distinguished scholars who also sit on the Sharia Boards of many other Banks and Finance companies in Sri Lanka. This includes; 

Ash-Sheikh Fazil Farook (Chairman), Ash-Sheikh Murshid Mulaffer and Ash-Sheikh Muhammed Huzaifa.

Established in 2010 to cater to the growing need for Sharia-compliant financial services in the local market, LB Finance Al Salamah is a 100 percent independent unit engaging in a wide range of financial services including Mudharabah investments- both Fixed Deposits and Savings, leasing, Murabaha financing and much more. While the Savings account is offered with ATM facilities the entire process is computerized to aensure greater convenience to its customers.

Within a very short time, LB Finance Al Salamah has become one of the most successful financial units catering to this niche market. The unit operates from Maradana, in the heart of Colombo while also being present in strategic locations across Sri Lanka including Kandy and the Eastern regions of Sri Lanka. The Company hopes to open more stand-alone units to cater to customers in Sri Lanka and hopes to introduce a range of new products including Trade Financing and Wakala Deposits in the near future.

LB Finance, the trail-blazer in Sri Lanka’s financial services industry is a licensed finance company approved by the Central Bank of Sri Lanka.
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