Islamic Finance

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Al-Salamah is the Islamic Unit of LB Finance PLC and is independent of the main body in all its activities : including management and financial accounting. All our products are structured according to the Sharia principals of equity and fairness, and available to all Sri Lankan’s irrespective of their religion or ethnicity.

A qualified Sharia Supervisory Board oversee and evaluate all our functions and do regular Sharia audits to ensure the entire range of products you enjoy from us are interest free and strictly confined to the Sharia law.

Our products on offer;

  • Ijarah
  • Murabaha
  • Mudarabah
  • Wakala
Products

Ijarah is a significant leasing service provided by the Al-Salamah Islamic Financial Service arm of LB Finance PLC. This unique Ijarah scheme is specially designed according to Sharia to benefit all communities in Sri Lanka, with a wider range of high quality leasing services. We offer competitive rates and flexible terms and conditions to match every client’s financial status and requirement. We strive to make your goals a reality with our versatile and exceptional leasing solutions that will surely astound you.

  • Maximum Sharia protection.
  • Competitive rentals.
  • Quick approval backed by friendly service.
  • Up to 60 months repayment period.

 

For more information call us on 0777236162 or 0112200311

 

The Murabaha principal is used by most Islamic Banks and Financial Institutions worldwide as a convenient mode of finance for most types of asset-based financing: vehicle/machinery financing, trade finance, import and export etc.
In a Murabaha transaction, the seller and the buyer reach an agreement to trade a specific commodity with a certain profit added to the cost. It is compulsory on the seller to disclose the actual cost of the commodity and his/her profit mark-up, which can be a specific amount or a percentage of the cost. Both parties should reach an agreement on this matter beforehand.Deferred settlement, either as a lump-sum full payment or in monthly instalments, is also allowed in Murabaha financing.

Mudarabah is a common equity -based Islamic mode of investment where the profits are shared among the investors on a pre-determined ratio. The parties involved are referred to as the ‘Rabbul Maal'( the Financial Provider) and the ‘Mudarib’ ( Fund Manager)

In a Mudarabah partnership the Mudarib (Al- Salamah) manages and prudently invest the Mudarabah Fund which consists investments collected from a pool of Arbaabul Maal (Investors). The Rabbul Maal is rewarded for his or her risks and the Mudarib for their entrepreneurship.

In a rare and unlikely event of a loss, unless it is resulted from the negligence of the Mudarib, the entire loss will be absorbed by the Mudarabah Fund, prior to the distribution of any profits.

The Sharia Supervisory Board will strictly monitor the investments from the Mudarabah Fund to ensure total Sharia compliance.

  • Fixed Deposits and Saving Accounts
  • Profit paid monthly or at maturity
  • LB ATM Shopping Debit Card for each Saving Account
  • Deposit terms ranging from 1, 3, 6 & 12 months
  • Highest profit returns in the market

For more Information please contact us on :0112200311

With the Introduction of ‘WAKALA’ investment deposits from Al-Salamah now you have an opportunity to earn high returns on your investments with peace of mind.for companies and individuals who expect a periodic, stable income coupled with steady capital appreciation, our Wakala Investment deposit provides the ideal platform and opportunity. This unique deposit scheme offers different maturities structured to allow investors to benefit from a constant and steady source of income. The Full Invested amount will be paid at maturity and profit could either be drawn monthly or along with capital at maturity.

‘Al-Salamah’s Wakala Investment is based on the Islamic Concept of  ‘Wakala bil Isthimar’ under this concept, you become the Principal (Muwakkil) and the financial institution (Al-Salamah) become the Investment Agent (Wakeel) of your funds.

Al-Salamah invests these funds in Sharia’s compliant financing and investment activities. The targeted profit earned from such investments are distributed to the customers monthly or upon maturity of the account.Al-Salamah (as Wakeel) deducts it’s agreed Agency fee (Wakeel fee) and pays the targeted profit amount along with the principal funds to the customers as per the terms of Wakala Agreement at maturity.

  • A MINIMUM DEPOSIT OF LKR 1,000,000
  • COMPETITIVE PROFIT RATE, EARN HIGH RETURNS ON YOUR INVESTMENTS WITH PEACE OF MIND.
  • FLEXIBLE DEPOSIT TERMS RANGING FROM 1,3,6,12,15,18,24,36,48 AND 60 MONTHS.
  • MARKET COMPETITIVE PROFITS ARE PAID MONTHLY OR AT MATURITY DATE OF EACH DEPOSIT.

For more information give us Call:0772 763 249 or 011 2200 311.

For the month of April 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month 31:69 9.27%
03 Months(MATURITY) 34:66 10.17%
06 Months(MATURITY) 36:64 10.77%
06 Months(MONTHLY) 28:72 10.96%
12 Months(MATURITY) 38:62 11.37%
12 Months(MONTHLY) 33:67 9.87%
12 Maturity(SPECIAL) 28:72 8.38%
Savings 25:75 7.48%

 

For the month of May 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month 31:69 9.22%
03 Months(MATURITY) 34:66 10.11%
06 Months(MONTHLY) 28:72 10.96%
06 Months(MATURITY) 36:64 10.70%
12 Months(MONTHLY) 33:67 9.81%
12 Months(MATURITY) 38:62 11.30%
12 Months(SPECIAL) 28:72 8.32%
Savings 25:75 7.43%

 

For the month of June 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month (31:69) 9.04%
03 Months (MATURITY) (34:66) 9.92%
06 Months (MATURITY) (36:64) 10.50%
06 MONTHS (MONTHLY) (31:69) 9.04%
12 Months? (MATURITY) (38:62) 11.08%
12 Months – Monthly (33:67) 9.63%
12 Maturity (Special) (28:72) 8.17%
Savings (25:75) 7.29%
For the month of July 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month (31:69) 7.93%
03 Months (MATURITY) (34:66) 8.70%
06 MONTHS (MONTHLY) (31:69) 7.93%
06 Months (MATURITY) (36:64) 9.21%
12 Months – Monthly (33:67) 8.44%
12 Months (MATURITY) (38:62) 9.72%
Savings (25:75) 6.39%

 

For the month of August 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month (31:69) 7.99%
03 Months(MATURITY) (34:66) 8.77%
06 Months(MONTHLY) (31:69) 7.99%
06 Months(MATURITY) (36:64) 9.28%
12 Months(MONTHLY) (33:67) 8.51%
12 Months(MATURITY) (38:62) 9.80%
Savings (25:75) 6.45%
For the month of September 2019
PERIOD PROFIT SHERARING RATIO (CUSTOMER LBF) PROFIT RATE
01 Month (31:69) 7.94%
03 Months(MATURITY) (34:66) 8.71%
06 Months(MONTHLY) (31:69) 7.94%
06 Months(MATURITY) (36:64) 9.22%
12 Months(MONTHLY) (33:67) 8.45%
12 Months(MATURITY) (38:62) 9.73%
Savings (25:75) 6.40%

Phone: 011 2200311
Fax: 0112 508658
In-house Sharia Advisor: 077 33 77 819
Email: [email protected]

 

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