AMANA BANK RECOGNISED AS SOUTH ASIA’S ‘BANK OF THE DECADE’ AT IFFSA AWARDS

Amana Bank was recently honoured with the prestigious title of ‘Bank of the Decade’ at the 10th Islamic Finance Forum of South Asia (IFFSA) Awards held in Colombo, reaffirming its position as the pioneer and leader in the region’s non-interest-based Islamic banking and finance industry.

Recognising outstanding institutions from Sri Lanka, Pakistan, the Maldives, Bangladesh and India, the IFFSA Awards has become a premier platform celebrating excellence and innovation within South Asia’s Islamic finance landscape. The accolade for ‘Bank of the Decade’ stands as a testament to Amana Bank’s consistent growth, resilience, and commitment to advancing people friendly and development focussed banking model over the past decade.

Adding to its achievements, the Bank also received the prestigious ‘Social Upliftment Project of the Decade’ award for its flagship CSR initiative OrphanCare. The project, founded on the principle of preventing a ‘second abandonment’ when orphans leave institutional care at the age of 18, ensures that every enrolled child receives financial assistance and continued support for a secure transition into adult life. All enrolments adhere to Article 2 of the United Nations Convention on the Rights of the Child, ensuring equal care and opportunity without discrimination based on religion, race, ethnicity or gender. Notably, Amana Bank bears all administrative and operational costs of the initiative, enabling every rupee donated to go directly into the accounts of the orphans.

In recognition of its continued efforts in promoting financial literacy and inclusion, Amana Bank was also awarded the ‘Social Upliftment Project of the Year 2024’ for its Knowledge Marketing and Financial Literacy programmes. These initiatives were designed to empower individuals and communities with essential financial management skills, particularly focusing on underbanked segments, entrepreneurs, women and youth, thereby contributing to long-term socio-economic empowerment.

The Bank’s in-house Sharia Advisor, Ash-Sheik Nazhan Naurooz, was also recognised with the newly introduced ‘Best Sharia Scholar Award 2025’, highlighting his invaluable contribution to maintaining Sharia compliance and fostering awareness on Islamic finance principles across the industry.

Further underscoring its responsible banking practices, Amana Bank once again secured the Gold Award for ESG (Environmental, Social and Governance) excellence, reaffirming its commitment to sustainability, ethical governance, and community wellbeing.

Reflecting on these accolades, Amana Bank’s Managing Director/CEO Mohamed Azmeer stated, “Being recognised as the Bank of the Decade is not just an honour, but also a validation of our unwavering commitment to deliver financial services that are both people friendly and development focussed. These awards inspire us to continue driving inclusive growth, uplifting communities, and promoting a value-based banking model that truly makes a difference in line with our mission of enabling growth and enriching lives.”

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks was recognized amongst the Top 25 Strongest Islamic Bank’s in the World by The Asian Banker. 

Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.