Amana Bank is a licensed commercial bank in Sri Lanka practising Islamic finance

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Amana Bank Partners with Micro Cars – An attractive Leasing solution on offer

May 29, Colombo: Amana Bank has joined hands with Sri Lanka's very own car manufacturer Micro Cars to provide special leasing facilities to buyers. A Memorandum of Understanding in this regard was signed recently at the Bank's Corporate Office which was attended by the Chairman of Micro Holdings Dr Lawrence Perera, General Manager Mr Srilal Amarasinghe and Deputy General Manager Mr Udaya Priyaratne. Amana Bank was represented by Managing Director/CEO Mr Faizal Salieh, Chief Operating Officer Mr Mohamed Azmeer, Vice President - Credit Mr Amrit CanagaRetna, Vice President - Consumer Banking and Strategic Marketing, Mr Siddeeque Akbar, and Assistant Vice President- Consumer Assets Mr Chaminda De Silva.

Speaking at this occasion the Bank's MD/CEO Mr Salieh said "We are happy to join hands with Micro Cars who are manufacturers of a Sri Lankan vehicle brand. We see many similarities between the two institutions in the way we conduct our business. The focus and commitment to the well-being and upliftment of our society through affordable and customer friendly product and service solutions is one of many such similarities between Micro Cars and Amana Bank".

The Chairman of Micro Holdings, Dr Perera, said "I am happy to note that Amana Bank has come forward to partner with Micro Cars. I am further delighted to realize how similar both companies are in our vision and approach to business, despite being in different industries. This partnership will allow customers to benefit through the synergies of both companies. We are looking forward to great results through this tie up."

Through this partnership Amana Bank will offer a special monthly lease starting from Rs. 2,452/- for a vehicle value Rs. 100,000/- for a period of 5 years, on any type of Micro vehicle. Apart from this Amana Bank customers will benefit from discounted prices on the entire Micro range of vehicles, reduced down payments and easy payment schemes on insurance while the credit approvals can be obtained within 24 hours' time.

According to Amana Bank's unique concept of leasing, the Bank will buy the vehicle the customer requires and rent it back to the customer so that he/she could enjoy using the vehicle. At the end of the agreed rental period the Bank will gift the vehicle to the customer so that the customer can enjoy the full ownership of it.

Amana Bank is powered by the stability and the support of its strategic shareholders Bank Islam Malaysia Berhad, the Islamic Development Bank based in Saudi Arabia and AB Bank in Bangladesh, The Bank is making an aggressive journey in the Sri Lankan banking industry and is focused on capitalizing the growing market potential for this unique banking model among all communities in the country.

Amana Bank's Managing Director/CEO Mr Faizal Salieh, Chairman of Micro Holdings Dr Lawrence Perera and COO of Amana Bank Mr Mohamed Azmeer with a Micro Panda Cross vehicle

29th May 2013

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