Amãna Bank marks 15 Years of Non-Interest Based, Development Focused People Friendly Banking

Amana Bank, Sri Lanka’s first and only licensed commercial bank operating entirely under the non-interest-based banking model, marked 15 years of operations on 1 August 2026. Since opening its doors in 2011, the Bank has made remarkable progress while successfully navigating some of the most challenging periods in the nation's recent history, driven by the growing trust, acceptance, and support of its customers. Today, the Bank serves over 500,000 customers through a growing network of more than 80 customer locations comprising branches and Self Banking Centres across the country. This remarkable growth reflects the Bank’s commitment towards enabling growth and enriching lives of its customers through the Bank’s development focused people-friendly approach to banking.

Building on this strong foundation, Amãna Bank has continued to deliver robust financial performance and sustainable growth, reinforcing its position as a key player in Sri Lanka’s banking sector. The Bank recently surpassed LKR 200 billion in total assets, becoming one of the fastest banks in the country to achieve this milestone. It has also consistently outpaced industry growth in both deposits and financing, while maintaining the strongest CASA ratio and being one of the lowest non-performing advances ratios in the sector. These achievements reflect the Bank’s ability to pursue sustainable growth without compromising portfolio quality, supported by a robust risk management framework, sound governance and a customer-centric culture. The Bank has also maintained a consistent track record of profitability while declaring successive dividends over the last 8 years.

As a Retail and SME-focused bank, Amãna Bank has played a pivotal role in supporting entrepreneurs, businesses and households. Through its unique asset-backed banking model, Amãna Bank channels financing directly towards the real sector of the economy, supporting productive economic activity, strengthening businesses and industries, creating employment, improving livelihoods, and contributing meaningfully to Sri Lanka's sustainable economic development.

A key milestone in the Bank's journey has been the continued confidence placed in it by the Islamic Development Bank (IsDB) Group, which remains Amãna Bank's main strategic shareholder through its private sector arm, Islamic Corporation of the Development of the Private Sector (ICD). Despite Sri Lanka not being a member state of the IsDB Group, its investment in Amãna Bank stands as a globally recognised success story, demonstrating how ethical, value-based banking can thrive in a diversified market while contributing meaningfully to national development.

Amãna Bank has received numerous local and international accolades in recognition of its progress; from being named the ‘Best Up and Coming Islamic Bank in the World’ by Global Finance Magazine USA during our formative years, to more recently being ranked amongst the ‘World’s Top 50 Strongest Islamic Banks’ by The Asian Banker and honoured as the ‘Most Impactful ICD Investee Company’ by the Islamic Development Bank Group amongst 30+ global investee companies. Reflecting its growing stature within Sri Lanka’s banking sector, the Bank was named ‘Sri Lanka’s Best Bank’ for the second consecutive year at the ICC Emerging Asia Banking Awards, adjudicated by PwC. Affirming its pioneering role and leadership within the Sri Lankan Islamic banking and finance ecosystem, the Bank has received multiple accolades, including recognition as the Bank of the Decade at the Islamic Finance Forum South Asia (IFFSA) Awards as well as multiple recognitions as Best Bank, Best Finance Entity and Best Finance Deals at both the IFFSA Awards and the Sri Lanka Islamic Banking and Finance Industry (SLIBFI) Awards.

Beyond banking, Amãna Bank's flagship community outreach initiative, OrphanCare, has continued to create a meaningful social impact. Inspired by the United Nations Sustainable Development Goal No 10 Reduced Inequalities and guided by Article 2 of the United Nations Convention on the Rights of the Child ensuring no form of discrimination, OrphanCare supports orphaned children across Sri Lanka in their journey towards financial independence after leaving institutional care, thereby helping save them from what would otherwise be a second abandonment. To date, the initiative has enrolled over 3,200 children from more than 90 orphanages across the island. Documenting the transformative impact it has had on the lives of its beneficiaries, OrphanCare recently published its inaugural Impact Report, which is available at www.orphancare.org.

Commenting on this milestone, Amãna Bank Chairman Asgi Akbarally said "As Amãna Bank marks its fifteenth anniversary, we do so with immense gratitude and a deep sense of purpose. This milestone reflects the trust placed in us by our customers, shareholders, employees and all our stakeholders. We are particularly proud that our growth has been achieved while remaining true to our founding principles of ethical banking, financial inclusion and sustainable development. Through periods of unprecedented economic and global challenges, we remained resilient, stood firmly by our customers and continued to contribute to Sri Lanka's progress. As we look to the future, we remain committed to creating lasting value for our customers, empowering communities and supporting the nation's economic aspirations.”

Sharing his thoughts, Managing Director/Chief Executive Officer Mohamed Azmeer stated: "Our fifteen-year journey stands as a testament to the enduring power of trust, resilience and a steadfast commitment to showcasing genuine care for all our stakeholders. Every milestone we have achieved—from serving over half a million customers and surpassing LKR 200 Billion in assets to delivering consistent financial performance—has been made possible through the unwavering support of our customers, guidance of our Board of Directors, wisdom of our Sharia Supervisiory Council and the dedication of our employees. On behalf of the Management of the Bank, I extend our sincere gratitude to each of them for their invaluable contribution to our fifteen-year journey. With the trust and confidence we have built over years we believe our most exciting chapters are still ahead. Guided by our mission of Enabling Growth and Enriching Lives, we remain committed to building a stronger institution that continues creating sustainable value for generations to come."

Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange, with the Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a Supra-National, ‘AAA’ rated multilateral development financial institution with a membership of 57 countries.

Testifying to its position as a leading practitioner of the non-interest-based banking model, Amana Bank was recognized amongst the Top 50 Strongest Islamic Banks in the World by The Asian Banker. Amana Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.

Image 01 Caption:Chairman - Asgi Akbarally

Image 02 Caption:Managing Director/CEO - Mohamed Azmeer

Image 03 Caption:Amana Bank – Corporate office