LOLC Al-Falaah, the alternate financing unit of LOLC Finance, has once again cemented its legacy as a trailblazer in the Islamic finance landscape by being voted the ‘Best Islamic Leasing Provider (Global)’ in the IFN Non-Banking Financial Institutions Poll 2024.
This marks the third time in four years that Al-Falaah has achieved this No.1 position in this global accolade, underscoring its excellence as the most preferred alternate financial services provider.
The annual IFN Best NBFI Poll recognises industry-leading providers of Islamic financial services across global markets and varied sectors. This year, it attracted record-breaking participation from voters in Asia, the Middle East, Africa, Europe and North America, highlighting the vibrant global Islamic finance sector.
The global winners of various categories listed in the IFN-NBFI Global Poll were announced on November 17, with the awarding ceremonies set to take place in Dubai, United Arab Emirates and Kuala Lumpur, Malaysia, in mid-February 2025.
This recognition comes as LOLC Al-Falaah operates within the formidable framework of LOLC Finance PLC, which holds over 20% of Sri Lanka’s NBFI asset portfolio and boasts a robust balance sheet exceeding Rs. 200 billion.
Through its 213-strong branch network and a team of dedicated professionals, Al-Falaah ensures that its tailored solutions are accessible to all Sri Lankans, irrespective of background. As the second-largest alternate finance provider in the country, Al-Falaah commands a total asset base of over Rs. 35 billion, serving more than 65,000 active clients.
LOLC Al-Falaah Head of Alternate Financial Services Shiraz Refai stated; “This recognition is a testament to our steadfast focus on achieving excellence in every facet of our operations. From product innovation to customer care and social responsibility, we strive to set benchmarks that resonate with the needs and aspirations of our communities.”
LOLC Al-Falaah Manager, Institutional Marketing Shafin Iqbal said; “In the highly competitive and fast-paced industry, receiving a global award is a true testament to the creativity and the innovative impact of the brand’s communication efforts. LOLC Al-Falaah winning the prestigious IFN Award for the ‘Best Leasing Provider, Global’ category recognizes its approach in connecting with various stakeholders across multiple regions and also takes a closer look at the well-executed marketing communication strategies and cross-functional collaboration that led to this remarkable achievement.”
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