'Al-Falaah Ladies' offers financial solutions for women

Al-Falaah, the Islamic Business Unit (IBU) of Lanka ORIX Finance PLC (LOFC) has reached yet another milestone by creating a window to the niche market of Ladies Financial Services through the launch of its latest brand "Al-Falaah Ladies".

For this purpose, a dedicated Business Unit, an innovation in the Islamic Financial Services sector - was set up at the main Al-Falaah centre located at LOLC head office premises, with a team of highly skilled professionals to manage the product and services exclusively.

"Al-Falaah Ladies" will offer comprehensive financial products and services aimed at offering women an opportunity to invest soundly, and to reap maximum benefits. Aptly titled "Blossom of Success", this unique product offers the highest profits on "Mudharabah Ladies" Savings and Fixed Deposits as well as tailor made credit facilities to suite the busy professional and also the self-employed.

The services are accessible through a network of over 60 LOFC branches and 5 dedicated Al-Falaah service centres located island wide. Plans are underway to further develop this exclusive ladies brand to offer a diverse range of innovative financial products and services with maximum benefits that demand the exclusive requirements of women.

"Mudharabah Ladies Savings Account" offers a profit sharing ratio of 42:58 (42% to the investor), and added benefits include a fully integrated Savings Passbook enabling unlimited deposits and withdrawals, Maestro linked ATM card with accessibility to 500+ ATMs island wide, and a Debit card with international accessibility.

"Mudharabah Ladies Fixed Deposits" provide investment options between 1 month to 60 months with profit returns on a monthly basis or at maturity. Profit sharing ratio is 62:38 (62% to the investor) at 12 months maturity.

Commenting, Mrs. Rohini Nanayakkara, Chairperson of the LOLC Group said, "This is a historic moment for Al-Falaah, Lanka ORIX Finance and the overall LOLC Group".

"During the past three decades, we have partnered with people from Micro and SME segments across the country irrespective of gender, ethnic, religious or class differences. We are proud to say, that our overall customer base constitutes an impressive number of women and women-entrepreneurs, which has been increasing substantially over the years."

"Al-Falaah Ladies" products are designed in accordance with Shari'ah principles of profit sharing and regulated by the Central Bank of Sri Lanka.