AMANA BANK

Amana Bank’s Siddeeque Akbar appointed as President of AAFI

Amana Bank is honoured to announce the appointment of its Vice President Retail Banking & Marketing Siddeeque Akbar as the President of the Association of Alternative Financial Institutions (AAFI), testifying Siddeeque’s leadership and expertise within the non-interest based Islamic Banking domain. This appointment was made during the Association’s recent Annual General Meeting.

Siddeeque joined Amana Bank in its formative stages to set up the marketing function as the Senior Manager – Marketing & Corporate Communications, eventually being elevated to the position of Vice President – Retail Banking and Marketing. Prior to joining Amana Bank, Siddeeque has previously held the roles of Marketing Manager and Brand Manager serving across various industries including financial, telco and consumer electronics. Siddeeque also served as the Treasurer of the Sri Lanka Institute of Marketing.

Siddeeque has represented Amana Bank and the industry as a panellist and spoken in numerous local and international Islamic banking and finance forums, gaining respect within the industry for his expertise and knowledge, He was appointed to be the inaugural Vice President of AAFI in 2015. He also played an instrumental role in launching the Orphan Care trust, which he continues to serve as a key management member, supporting young adult orphans avoid a ‘second abandonment’.

Established in 2015, AAFI is represented by all major banks and financial institutions in the industry. With an objective to advance the Non-Interest based participatory banking and finance industry, AAFI is committed towards ensuring all Sri Lankans and the nation as a whole reap the benefits of this distinctive and unique banking and finance model through proactive engagement.

Commenting on his appointment Siddeeque Akbar said “I am honoured to have this opportunity to serve as the President of the Association of Alternative Financial Institutions. This association exemplifies the united commitment of our alternative banking community in promoting cooperation and propelling the growth of this unique model of banking & finance. I look forward to working with the esteemed committee and the industry to address industry challenges, promote knowledge sharing, and most of all facilitation all Sri Lankans irrespective of their faith towards enjoying the benefits of non-interest based banking. I am thankful to Amana Bank for providing the platform to build my knowledge, expertise and exposure in this industry ”

Apart from Siddeeque Akbar as the President, the AAFI Executive Council includes Suresh Perera (KPMG) as Vice President, Rifka Ziyard (KPMG) as Secretary, and Bahar Nayan (NDB) as Treasurer. Other members of the council include Hisham Ally (HNB) as Assistant Treasurer and Ilsam Awfer (LOFC) as Assistant Secretary. The founder President of the association was late Ravi Abeysuriya.

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 continued to be recognized amongst the Top 100 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.