LOLC Al-Falaah voted best Islamic leasing provider
View(s):LOLC Al-Falaah, the alternate financing unit of LOLC Finance, has once again cemented its legacy as a trailblazer in the Islamic finance landscape by being voted the “Best Islamic Leasing Provider (Global)” in the IFN Non-Banking Financial Institutions Poll 2024. This marks the third time in four years that Al-Falaah has achieved this No.1 position in this global accolade, underscoring its excellence as the most preferred alternate financial services provider, the company said in a media release.
The annual IFN Best NBFI Poll recognises industry-leading providers of Islamic financial services across global markets and varied sectors. This year, it attracted record-breaking participation from voters in Asia, the Middle East, Africa, Europe, and North America, highlighting the vibrant global Islamic finance sector.
This recognition comes as LOLC Al-Falaah operates within the framework of LOLC Finance PLC, which holds over 20 per cent of Sri Lanka’s NBFI asset portfolio and has a robust balance sheet exceeding Rs. 200 billion. Through its 213-strong branch network and a team of dedicated professionals, Al-Falaah ensures that its tailored solutions are accessible to all Sri Lankans, irrespective of background. As the second-largest alternate finance provider in the country, Al-Falaah commands a total asset base of over Rs. 35 billion, serving more than 65,000 active clients.
Reflecting on this achievement, Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, said, “This recognition is a testament to our steadfast focus on achieving excellence in every facet of our operations. From product innovation to customer care and social responsibility, we strive to set benchmarks that resonate with the needs and aspirations of our communities. Being voted the Best Islamic Leasing Provider is a humbling honour that inspires us to continue empowering lives and fostering economic stability through Shari’ah-compliant financial solutions.”
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