NDB Bank marks a monumental milestone as its Islamic Banking arm, NDB Shareek, celebrates 10 years of providing Shariah-Compliant Banking and Financial solutions to Sri Lankans. This achievement is particularly significant, as NDB is among the few financial Institutions in Sri Lanka to reach this remarkable milestone in the Islamic Banking space.

Established a decade ago, NDB Shareek Islamic Banking has upheld its mission of offering an Alternative Banking method in line with the Central Bank of Sri Lanka, regulations and Shariah principles. Supported by a comprehensive range of products and services, over the years, NDB Shareek has grown into a trusted partner for individuals and businesses.

A Spectrum of Shariah-Compliant Offerings 

NDB Shareek Islamic Banking empowers customers with a wide array of financial solutions designed to meet diverse needs. From Mudarabah Savings and Term Investments that offer competitive monthly and maturity profit payments to Wakala Term Investments, NDB Shareek has consistently delivered innovative, customer-centric services.

Its unique suite of products includes Murabaha Financing for working capital, Wakala Financing for investment management, Diminishing Musharakah for Home Financing, and Ijarah Leasing for vehicles and machinery.

These offerings are complemented by features such as e-statements, mobile and internet banking, debit cards, and doorstep banking for business customers. Each product is tailored to foster financial growth while adhering to Shariah guidelines, ensuring ethical and transparent banking for all.

A Year of Outstanding Achievements

As NDB Shareek celebrates a decade of service, 2024 stands out as a landmark year. At the recently concluded SLIBFI Awards 2024 (Sri Lankan Islamic Banking and Finance Industry Awards), NDB Islamic Banking clinched an impressive six awards, reinforcing its position as a leader in the industry.

Additionally, NDB Shareek was bestowed with the coveted Gold award for the Deal of the Year for the second consecutive year and the Gold award for the Islamic Banking Window/Unit of the Year, along with three more awards at the IFFSA awards 2024. (Islamic Finance Forum of South Asia).

Pioneering Islamic Banking in Sri Lanka

Speaking on this milestone, Bahar Nayan, NDB’s Head of Islamic Banking, expressed his gratitude to customers, stakeholders, and the Shariah Supervisory Board who have contributed to the success of NDB Shareek, commenting, “This milestone reflects our unwavering dedication to serving the community with Shariah-compliant innovative Alternative Financial solutions. As we look forward to continuing this journey, we are proud to embrace our new tagline, Together We Grow, as a testament to our commitment to empowering our customers and setting new benchmarks in the Islamic Banking Industry.”

A Vision for the Future

As NDB Shareek Islamic Banking looks ahead, the focus remains on empowering Sri Lankans through ethical financial practices. With its extensive branch network of 113 locations and a robust digital infrastructure, NDB Shareek is poised to drive financial inclusion and growth in Sri Lanka’s Islamic banking sector for years to come.

NDB Bank is the fourth-largest listed commercial bank in Sri Lanka. NDB was named Sri Lanka's Best Bank for Corporates at Euromoney Awards for Excellence 2024 and was awarded Domestic Retail Bank of the Year - Sri Lanka and Sri Lanka Domestic Project Finance Bank of the Year by Asian Banking and Finance Magazine (Singapore) Awards 2024. NDB is the parent company of the NDB Group, comprising capital market subsidiary companies, together forming a unique banking and capital market services group. The Bank is committed to empowering the nation and its people through meaningful financial and advisory services powered by digital banking solutions.

Photo caption: NDB Islamic Banking Team at the Islamic Banking 10 Year Anniversary Celebrations