Mudharabah Savings from LBF
Al Salaamah, the fast-expanding Islamic Finance unit of trailblazing
financier LB Finance, has yet again introduced a financial product that
is both profit yielding and honourable.
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Ravi Yatawela General Manager, LB
Finance accepting the first Mudharabah Savings account from
a customer. |
Al Salaamah launched Mudharabah Savings in a recent development, with
regular accounts and special accounts for senior citizens and minors.
As a first in the local Islamic Finance sector, the seniors' account
rewards customers over 55 years a higher profit ratio.
Managing Director of LB Sumith Adhihetty expressed his pleasure with
the advance of the Islamic Finance unit, "We are very happy to see the
rapid progress of Al Salaamah over a short period of time.
They have been able to cater to the specific customer demands in a
consistent and efficient manner. As a result, we have been able to
improve on capacity and provide more dedicated staff members to the
branches", he enthused.
Al Salaamah services are available at LB Finance branches across its
islandwide branch network, as well as at dedicated standalone centres in
the network. Customers can also access their Mudharabah Savings accounts
conveniently using their LB Finance ATM cards.
As with its every operation, the Mudharabah Savings accounts too come
under the guidance of the experienced Shari 'a Council.
All decisions are made in compliance with the council's guidelines
and advice, closely liaising with them on all protocols, remark by the
Head of Islamic Finance Zakir Saly.
In addition to Islamic Finance, the LB Finance portfolio includes
Fixed Deposit, Leasing, Hire Purchase, Savings Accounts, Margin Trading,
Factoring and Gold Loans.
The customized financial solutions are easily accessible across its
well-developed branch network, coupled with warm customer service and
trademark efficiency.
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