People’s Leasing & Finance PLC Makes a Triumphant Return at the SLIBFI Awards 2023/24, Securing Three Major Category Wins

PLC Al-Safa has once again demonstrated its leadership in the Islamic finance sector by securing three prestigious accolades at the Sri Lanka Islamic Banking and Finance Industry (SLIBFI) Awards 2023/24. This recognition is reflective of the company’s ongoing commitment to innovation and excellence in providing shariah-compliant financial solutions in Sri Lanka.

At the SLIBFI Awards 2023/24, PLC Al-Safa’s Chief Manager of Islamic Finance & Digital Products, Fazmil Mowlana, received the Gold Award for Transformative Leadership, acknowledging his significant contributions to advancing Islamic finance in Sri Lanka among all the leading banks and NBFIs. Additionally, PLC Al-Safa received the Bronze Award for Islamic Finance Entity of the Year, and was also honoured with the Islamic Finance Product of the Year – Merit Award for its innovative Wadi’ah Gold Safekeeping product, further solidifying its status as a trusted leader in the industry.

Commenting on the achievement, Mr Mowlana said, “Winning these awards is a reflection of the collective effort and unwavering dedication of the entire PLC Al-Safa team. We remain committed to providing innovative, customer-focused solutions that align with shariah values, and these accolades inspire us to continue pushing the boundaries of what is possible in Islamic finance. Our goal is to not only maintain our pioneering position but also to set new benchmarks in the industry, ensuring that our clients receive the best possible financial solutions that are both shariah-compliant and forward-thinking. This will allow us to provide our customers with more value-added benefits in alternate financing.”

The SLIBFI Awards, organised by UTO EduConsult for the 13th consecutive year, is the most prestigious awards programme in Sri Lanka’s Islamic banking and finance industry, highlighting outstanding performances within the sector. Applicants for the SLIBFI Awards undergo a rigorous review process, where they are assessed based on audited financial data, together with several other metrics and KPIs, and each entry is evaluated by an independent panel of judges comprised of industry experts. The awards celebrate innovation, excellence, and the significant contributions of institutions and individuals towards the growth and development of Islamic finance in Sri Lanka.

Chief Executive Officer of People's Leasing & Finance PLC, Mr Sanjeewa Bandaranayake added, "We are honoured to receive these awards, which highlight the dedication and hard work of our team. This recognition reaffirms our commitment to serving all communities in Sri Lanka, and underscores PLC’s dedication to being an inclusive, multicultural organisation that supports all Sri Lankans."

As the first full-service non-banking Islamic finance provider in Sri Lanka, PLC Al-Safa, a unit of People’s Leasing & Finance PLC, has been offering reliable and trustworthy shariah-compliant products and services since 2005. Over the past two decades, the company has built a reputation for high-quality, customer-centric services, serving Sri Lankans seeking comprehensive shariah-compliant alternative financial solutions.

PLC Al-Safa has consistently pushed the boundaries of innovation within the framework of Islamic finance, strengthening its Shariah Supervisory Board to ensure that all products, services, and processes not only comply with shariah principles but also offer maximum value, flexibility, and innovation. The company’s robust digital infrastructure and nationwide presence, with access points at over 50 PLC branches Islandwide, provide customers with 24/7 access to its comprehensive range of financial services, further cementing its position as a leader in the industry.

Accordingly, PLC Al-Safa’s success at the SLIBFI Awards 2023/24 is a clear indication of its enduring influence and leadership within the Islamic finance sector. The company’s achievements at this year’s awards not only reflect its ongoing dedication to excellence but also its vision for the bright future of Islamic finance in Sri Lanka.

Chief Executive Officer of People's Leasing & Finance PLC, Mr Sanjeewa Bandaranayake

Photo Caption: Subash Chandra Bowse, Country Director for Sri Lanka and the Maldives BPC, presenting an award to Mr. Fazmil Mowlana, CM of Islamic Finance and Digital Products; Mr. Muzni Munas, Operations Manager at Park Street Al-Safa; Mrs. Safra Firdhouse, and Mrs. Inul Munthas from the Central Islamic Unit.