Global Recognition for LOLC Al-Falaah; Wins Deal of the Year. - 01 Mar 2017

LOLC Securities Limited (LOSEC), the stockbroking company of the diversified conglomerate - the LOLC Group, recently conducted a workshop on Capital Market and Mobile App Awareness. The workshop was organised in collaboration with the Securities & Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) with the objective of creating awareness on Capital Market and Online Trading through the new Mobile App. The programme was held recently at the Sri Lanka Institute of Information Technology (SLIIT) in Malabe.

About 300 undergraduates took part in the Capital Market and Mobile App Awareness Workshop which was held with the participation of senior officials and representatives from LOLC Securities, the SEC and the CSE. The Workshop covered a range of key topics including the benefits of investing in Capital Market instruments, how to make use of Online Trading facilities in the Capital Market as well as the regulatory aspects relevant to the Capital Market of Sri Lanka.

Commenting about the Workshop, Mr. Sriyan Gurusinghe, Managing Director / Chief Executive Officer of LOLC Securities Limited said, This joint workshop is a timely initiative. In an age when technology is developing rapidly with constant innovation, we need to create awareness that investors can now manage their investments with great ease, anytime and from anywhere. This Mobile Trading App offers live streaming prices, charts, latest news on stock trading and much more.

During the workshop, LOLC Securities donated a real time Market Viewer Monitor Screen to SLIIT in order to facilitate and display live market streaming at the SLIIT University premises. The main objective of this donation is to provide real time updates on the Capital Market as well as expand and broad base exposure for the Capital Market among all stakeholders in order to build a sustainable relationship between both institutions.

This workshop, the first of its kind in Sri Lanka was conducted by a stockbroking firm in collaboration with a Private University with representation from all stakeholders in the Capital Market of Sri Lanka.

Established in 2011, and now a fully owned subsidiary of the LOLC Group, LOLC Securities has been built for excellence in all its dimensions, keeping in mind the assurance sought by discerning investors. LOSECs investment advice is backed strongly by an in-house advanced, award winning research team of highly qualified analysts. The market reports compiled by LOLC Securities are detailed and analytical and offer valuable insights into market and economic trends and statistics.

Al-Falaah, the Islamic Business Unit of LOLC Finance PLC has been recognized globally on multiple occasions for the financial year 2016/17 by winning several awards at globally recognised award presentations.

Al-Falaah secured the IFN Deal of the Year for Sukuk (Alternate option for Securitization) at the IFN Deals of the Year for 2016 awards ceremony held on the 28th of February 2017 at the Ritz Carlton, DIFC Dubai U.A.E. This was the first year that Al-Falaah was eligible to compete for the subject category, as it developed a signature financial instrument that can be offered as an alternate format for the conventional securitization product.

This award is significant not only by its own right; it signifies innovation, industry value addition, raising local standards and international benchmarking. It is the first-time a Sri Lankan entity won an award in the global-category having qualified for an entry competed by global banking & financial institution giants. The adjudication and evaluation was done by an independent panel appointed by IFN/Redmoney with weightages given in recognition of the specific underlying transactions which created history in specific markets as first time transactions or ground-breaking transactions.

Further, LOLC Al-Falaah, was also recognized at the Islamic Finance News, Global Poll, IFN-Best Banks Awards 2016 for the fourth consecutive year. With over 26,000 overall votes for all categories, the global Islamic finance fraternity has voted Al-Falaah, Islamic Business Unit of LOLC Finance PLC to be amongst the top of global industry giants. The recognitions received of the two nominated categories are Best Islamic Leasing Provider, Runner Up where LOLC Al-Falaah has moved up from 3rd Place in 2015 and maintained the position of Best Islamic Bank Sri Lanka, Runner Up for 2016 as well.

Commenting on these prestigious wins, Mr. Krishan Thilakaratne, LOLC Group Head of Islamic Finance said, We are excited to accept these accolades which adds to our list of global recognitions in the Islamic Finance space locally as well as internationally. This is a true demonstration of our robust and innovative approach as an industry trendsetter, focussed on developing financial tools that cater to the growing needs of the industry.

Also sharing his thoughts, Mr. Shiraz Refai, Deputy General Manager, Al-Falaah Islamic Business Unit of LOLC Finance said, Securing the IFN Deal of the Year 2016 is both a first for us as well as the Islamic Finance industry in Sri Lanka. Being recognized under the IFN Global Best Banks Polls is always phenomenal to Team Al-Falaah. It is a significant milestone and accomplishment for the financial year 2016/17 and we are elated that LOLC Al-Falaahs deliberations to the industry is accepted by our stakeholders and also clearly signifies our continued commitment for innovation, compliance and customized financial solutions on offer.

Adding to its bucket list of Global recognitions, LOLC Al-Falaah also secured two prestigious awards at the Global Banking & Finance Review (GBFR) Awards 2016 - United Kingdom, by being crowned the Best Islamic SME Leasing and Finance Company and the Most Innovative Islamic Investment Product (Wakala) in Sri Lanka for 2016. This is Al-Falaahs first win at the GBFR which is created to recognize companies of all sizes that are prominent in particular areas of expertise and procure excellence within the global financial community.

LOLC Al-Falaah, which is in its 10th year in operation, functions directly under the auspices of LOLC Finance PLC, which is one of Sri Lankas largest non-banking financial institutions (NBFIs). LOLC Finance which is a regulated Finance Company of the Central Bank of Sri Lanka (CBSL) is rated [SL] A with stable outlook by ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd. (an associate of Moodys Investors Service).

Mr. Krishan Thilakaratne, Group Head of Islamic Finance, LOLC and Mr. Shiraz Refai, Deputy General Manager, Al-Falaah, Islamic Business Unit of LOLC Finance PLC together with Andrew Morgan, Managing Director & Publisher of REDmoney Sdn Bhd
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