With the emergence of Alternate Financing around the world, LOLC Finance focused its attention towards alternative/participatory financing concepts and brought a new facet to the financial services industry of Sri Lanka. Driven by the goal of playing a more active role in developing this sector, we established a dedicated Alternate Financial Services Unit in an effort to ensure that all products and services are handled in accordance with these established concepts, guaranteeing consistency with Islamic principles at all times.
Al-Falaah, our Alternate Financial Services Unit has strived to take Alternate Financing to greater heights, extending its portfolio to offer a number of profit-sharing investment options to not only the Muslim community but the entire nation at large. We have so far developed 9 main products under our product portfolio: Mudharabah - Profit Sharing Investments – Savings, Wakala – Long Term Investments, Ijarah - Leasing, Murabaha - Trade Financing, Diminishing Musharakah - Property & Project Financing, Musawamah - Import Finance and Wakala - Business and Working Capital Finance, Wadi'ah Gold Storage, and Wakala Speed Draft.
Our range of Alternate Financial Services and rewards are tailored to meet life's different needs and recognize what's important to you. As the first finance company registered under the Central Bank of Sri Lanka to be granted approval to extend deposit accounts under this concept, we have in place, an In-house Advisor and a 3 member Supervisory Board comprising local and international blend of eminent scholars and industry leading practitioners of Alternate Finance, who provide advice, guidance and constantly monitor and audit all aspects of the operations. The guiding principles of Al-Falaah ensures that cooperation, trust, honesty and openness are maintained at all times with regard to all transacting parties.
We are relentless in our commitment to providing the best financial solutions and strive to add value to our products to meet the needs of our customers.
We are relentless in our commitment to providing the best financial solutions and with this, we strive to add value to our products with the aim to meet the needs of our customers.