BANKING

Amana Bank receives ‘Best Islamic Bank in Sri Lanka accolade

Amana Bank was adjudged the Best Islamic Banking Service Provider in Sri Lanka at the Islamic Finance News (IFN) poll.

Commenting on this global accolade, Faizal Salieh said “It is indeed an honour to have won this international award and to be recognized as the best Islamic bank in Sri Lanka.

Over the course of last year we were able to achieve many milestones, of which commencing commercial banking operations was the most significant. I would like to sincerely thank all our employees, customers and stakeholders for supporting the growth of the bank which enabled us emerge winners at the Islamic Finance News poll.”

Amana Bank is Sri Lanka's first Licensed Commercial Bank to operate in complete harmony with the principles of Islamic Banking.

Guided by its principles, Amana Bank presents a new way forward enriched with Honour, Humanity, Stability and Uniquen-ess.

While being the pioneer and market leader in Islamic Banking in Sri Lanka, the Bank is focused on capitalizing on the growing market potential for this unique banking concept among all communities in the country.

Faizal Salieh, MD/CEO of Amana Bank, received the accolade from Andrew Morgan, Managing Director of the Malaysia-based REDMoney Group at the IFN Award Ceremony held in Dubai.

The IFN poll, held for the seventh consecutive year takes an unbiased, transparent and all-encompassing approach in selecting the best Islamic banking service providers in the world.

Deutsche Bank rejuvenates board

Deutsche Bank, Germany's biggest bank, named three new board members on Friday as part of a generational change being ushered in by incoming co-chief executives Juergen Fitschen and Anshu Jain.

Deutsche Bank said in a statement that its supervisory board had appointed Stephan Leithner, Stuart Lewis and Henry Ritchotte to the management board with effect from June 1.

Lewis, a 46-year-old Scotsman, has been appointed to the key strategic position of chief risk officer, replacing Hugo Baenziger, a 56-year-old Swiss national.

Leithner, a 45-year-old Austrian, will be head of human resources, legal and compliance, and Ritchotte, a 48-year-old American, will be chief operating officer.

All three come from Deutsche Bank's investment banking arm which has been headed up until now by Anshu Jain.

According to media reports, chief executives Jain and Fitschen -- who will jointly replace Josef Ackermann after he steps down at the end of May -- had wanted one of Jain's aides, William Broeksmit, to the post. But according to Spiegel Online, the financial sector watchdog BaFin objected because the US national had too little management experience.

Neither Deutsche Bank nor BaFin were willing to comment on the report.

Current board members Baenziger and Hermann-Josef Lamberti are leaving on May 31, the statement said.

In a statement, supervisory board chief Clemens Boersig thanked Lamberti and Baenziger “for their outstanding contributions to the bank over many years” and welcomed the three new member as “a new generation of management talent.” Ackermann, 64, is stepping down after 10 years at the helm of Germany's biggest bank.

APF