Amana Bank joins Central Bank of Malaysia’s Global Forum on Islamic Economics and Finance

Amana Bank recently participated in the Global Forum on Islamic Economics and Finance (GFIEF) 2024, held in Kuala Lumpur under the esteemed patronage of the Ministry of Finance Malaysia. The forum was organized by the Central Bank of Malaysia (Bank Negara) in collaboration with the Securities Commission Malaysia, the Islamic Development Bank, the Islamic Financial Services Board, and the World Bank Group.

Themed “Shaping a Resilient Global Islamic Economy Through Values-Based Reforms”, GFIEF 2024 gathered policymakers, business leaders, and financial service providers from around the world. The event facilitated discussions, exchanges of best practices and collaborations focusing on how Islamic economics and finance can play a pivotal role in promoting shared prosperity and equity.

Representing Amana Bank, Managing Director/CEO, Mohamed Azmeer, attended the forum to establish and strengthen business relations and partnerships with representatives and stakeholders from the international business community. During the forum, Azmeer exchanged valuable insights, shared success stories, and highlighted best practices in Sri Lanka’s banking operations. The forum also provided a platform for countries to demonstrate on how they optimised on Sukuks (Alternative Bonds) towards championing renewable energy, infrastructure development and transport projects, thereby contributing towards economic prosperity.

Speaking on Amana Bank’s participation at GFIEF 2024, Mohamed Azmeer stated, “This forum highlighted the significant impact of Islamic Economics and Finance on the overall financial landscape and provided an opportunity to exchange ideas and best practices. It was inspiring to hear success stories from Malaysia, the Philippines, and Indonesia on their progressive use of alternative bonds, or Sukuks, to achieve economic prosperity. Additionally, the forum provided Amana Bank with the opportunity to showcase its success story in growing Islamic Finance in a non-Muslim majority country”

Further Azmeer added “Amana Bank’s active participation in GFIEF 2024 underscores its dedication to enhancing economic growth and promoting the values of Islamic finance. The Bank remains committed to driving positive change and contributing to the resilient and equitable development of the Sri Lankan economy.”

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 50 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.