CLC launches Islamic Finance

26 August 2015 03:23 am

Embarking on another revolutionary financial service provision, Commercial Leasing and Finance PLC recently introduced ‘CLC Islamic Finance’ with the purpose of meeting the financial needs of many existing and potential customers within the Sri Lankan community.

Hoping to create an influential trademark parented by CLC, this specialized  Islamic Business Division (IBD) will function as an Alternative Finance solutions provider under the Commercial Leasing and Finance regulatory license implementing Shari’ah compliance Finance solutions. This unit will be monitored by a three member Shari’ah Supervisory Board that represents eminent Islamic Finance scholars from Sri Lanka and overseas. 

Expressing his idea on this new launch, the CEO of CLC Krishan Thilakaratne said: “Sri Lanka, though geographically a relatively small nation, has one of the fastest growing economies and it is home to a multi-cultural community. Therefore as a financial service provider we are aware of the growing needs of people and their diverse expectations. We have always provided innovative financial solutions and now we are driven to provide specific financial solutions for the benefit of our existing customers and our potential customers”. 

Adding further, Thilakaratne mentioned, “I am confident that the newly launched Islamic Business Division will add greater value to CLC by offering Islamic Finance solutions from our entire branch network to satisfy all financial requirements of our valued customers”.

CLC, with a history of 27 years, is one of the top brands in the non-banking financial industry. The company has equity over Rs. 10 billion coupled with an ICRA (A-) rating. Through a 59 branch network island wide, CLC continues to spread its influence and steadily expands its business activities by providing innovative financial solutions.