Amana Bank secures BBB+ rating from Lanka Rating Agency

From left: Amana Bank Managing Director/Chief Executive Officer Mohamed Azmeer and Lanka Rating Agency Chief Executive Officer Dr. Kenneth De Zilwa 

Amana Bank PLC, Sri Lanka’s pioneering fully-fledged non-interest-based Islamic banking institution, having Islamic Development Bank Group as the principal shareholder, has been awarded a BBB+ rating by Lanka Rating Agency Ltd, affirming the bank’s strong financial position in the Sri Lankan banking sector. 
Lanka Rating Agency is a credit rating agency duly regulated by the Securities and Exchange Commission of Sri Lanka.
“This rating achievement comes at a time when the bank is affirming its position as a trusted and resilient financial institution. It not only reflects our financial strength and sustainable growth but also opens new opportunities to further expand our footprint and enhance our offerings, paving the way for greater value creation for all our stakeholders,” stated Amana Bank Chairman Asgi Akbarally.
Amana Bank Managing Director/Chief Executive Officer Mohamed Azmeer added, “We are honoured to receive yet another investment-grade rating, this time from Lanka Rating Agency, which underscores the bank’s stability and resilience. This recognition reflects our strong performance across key metrics and our ability to set new industry benchmarks. These ratings further strengthen our position and pave the way for future growth and expansion.”
Lanka Rating Agency Chief Executive Officer Dr. Kenneth De Zilwa commented, “The BBB+ rating assigned to Amana Bank reflects the bank’s stable market position, adequate capitalisation and its successful operation of the non-interest-based Islamic banking model in Sri Lanka. The bank’s strategic alignment with Islamic Development Bank adds significant institutional strength and demonstrates its access to international Islamic banking expertise.”