Amana, Bank Islam ink partnership agreement in KL

Amana Bank signed a Technical Advisory Service Agreement with its strategic partner Bank Islam Malaysia Berhad, the pioneer Islamic financial service provider in Malaysia, at an event held in Kuala Lumpur recently.

Amana Bank Managing Director Faizal Salieh and Bank Islam Managing Director Datuk Seri Zukri Samat signing the agreement. Looking on are Bank Islam Chairman Datuk Zamani Abdul Ghani, Bank Negara (Central Bank of Malaysia) Assistant Governor Bakarudin Ishak and the Sri Lankan High Commissioner in Malaysia Dr. D. D. Ranasinghe.

Bank Islam was also presented with its Share Certificate confirming its 20 percent stake in Amana Bank, the pioneer Sri Lankan Islamic Bank.

Under the Technical Advisory Service Agreement, Bank Islam will play a significant role in transferring Islamic banking expertise to Amana Bank.

Having been involved with the Amana Group since 1999 as a strategic partner, Bank Islam will render valuable technical know-how and service to the new bank.

Bank Islam's Managing Director Datuk Seri Zukri Samat said, "this business venture is Bank Islam's maiden overseas banking venture in line with our regional expansion plan." He further added that "Sri Lanka was chosen not only to capitalise on our existing presence and familiarity with the business environment, but more importantly due to its favourable economic prospects and tremendous untapped potential of its Islamic financial service industry."

Amana Bank's Managing Director Faizal Salieh said, "Malaysia stands out as an icon in the world of Islamic Banking. I see today's event here in KL as a significant milestone in the area of Islamic Banking cooperation between our two countries."

The signing ceremony was attended by Bank Islam Chairman Datuk Zamani Abdul Ghani, Bank Negara (Central Bank of Malaysia) Assistant Governor Bakarudin Ishak and the Sri Lankan High Commissioner in Malaysia Dr. D.D. Ranasinghe.

Bank Islam's Managing Director Datuk Seri Zukri Samat and Chief Operating Officer - Business Support Jaafar Bin Abu have been appointed directors of Amana Bank.

In addition, Bank Islam's AGM and Head of Sharia Division Mohd Nazri bin Chik will sit in the Independent Sharia Supervisory Council of Amana Bank.