CLC Islamic Finance expands its reach through new Service Centers

December 18, 2020 December 18, 2020

Assistant General Manager (A.G.M) Negombo Region, Pradeep Madurasinghe handing over a gift to a customer during the opening of Madurankuliya Super Dealer Point

CLC Islamic Finance, the Islamic Banking Division (IBD) of Commercial Leasing and Finance, continuously recognized as an award winning institution at local and South Asian regional levels, has rolled out its island-wide customer outreach initiative with 06 new dedicated customer service centers, called ‘Dedicated Islamic Finance Super Dealer Points (SDPs)’.

Established at strategic locations across the island, SDPs are dedicated one-stop destinations that serve the Islamic financing needs of customers. SDPs will also engage as customer touch points in towns where branches are not located to serve the customers.

The new dedicated Islamic Finance service centers are located at Katuwanwila (Polonnaruwa district), Madurankuliya (Puttalam district) and Madawala (Kandy district). In addition, CLC Islamic Finance has established 04 more SDPs at Akkarapaththu (Ampara), Oddamavady (Batticaloa), Kinniya and Muthur (Trincomalee).

“The addition of Super Dealer Points further strengthens our branch network enabling us to target specific customer segments and empower them with our wide range of products. These SDPs are part of our expansion plans to reach untapped regions and introduce customer centric, profit driven solutions to Islamic finance customers. We are planning to build further on the SDP concept and establish more SDP centers to better serve our island-wide customer base” said Ilsam Awfer, Head of the Islamic Business Division.

CLC Islamic Finance, a leading Islamic Finance solution provider in Sri Lanka and South Asia is home to innovative and ethical Islamic Banking solutions. It has a range of financial services on offer – including Profit Sharing Investments (Mudharabah), Term Investments (Wakala Investments), Islamic Leasing (Ijarah), Trade Finance (Murabaha), Property/Working Capital Finance (Diminishing Musharaka), Import Finance (Musawamah) and Working Capital Finance (Wakala Finance).

The Islamic Business Division (IBD) of CLC commenced its operations in 2015 as an Islamic Finance Window under the regulatory license of Commercial Leasing and Finance PLC., by the Monetary Board of the Central Bank of Sri Lanka (CBSL). Apart from the special certification received by the CBSL, CLC Islamic Finance is also approved by 03 members advisory board which consists of Ash-Shaikh Shafique Jakhura (Chairman), Ash-Shaikh Murshid Mulaffer (Member) and Ash-Shaikh Fazil Farook (Member). It has already appointed more than 30 trained professionals as dedicated Islamic Finance marketers to serve Islamic Finance products to customers across the country by conducting various workshops, awareness campaigns and training programmes.

CLC Islamic Finance has become a force to reckon within the Islamic Banking and Finance industry. It is a dedicated business unit set up under the Commercial Leasing and Finance Regulatory license to implement Alternate Finance solutions. During the five years of its operations, CLC Islamic Finance has ranked among the top five players offering Islamic Finance in the country and bagged several awards under its name. The company has a balance sheet of Rs. 4Bn in assets and more than Rs. 2Bn as public investments in the form of Mudharabah and Wakala Investments. CLC Islamic Finance is currently the highest profit payer among Islamic Banking and Finance Industry with a pool of quality assets with the lowest NPL ratios in the industry.

More information about the Islamic banking solutions can be found at www.clc.lk and customers can get in touch with the CLC Islamic Finance for any inquiries via IBD@clc.lk.