Islamic Banking

Apr 26, 2011 (LBO) - Sri Lanka's Amana Bank has signed a deal with Malaysia's Bank Islam, which is a shareholder, to get Islamic banking expertise. A company statement said that under the Technical Advisory Service Agreement, Bank Islam will play a "significant role" in transferring Islamic banking expertise to Amana Bank.

Bank Islam has a 20 percent stake in Amana Bank with which it has been involved since 1999 as a strategic partner.

This business venture was Bank Islam’s maiden overseas banking venture in line with our regional expansion plan, Bank Islam’s Managing Director Datuk Seri Zukri Samat said.

Samat and Bank Islam’s chief operating officer Jaafar Bin Abu have been appointed as directors of Amana Bank.