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

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Amãna Bank tie up with Singer to offer Easy Payment Plan

Sri Lanka’s non-interest based banking pioneer Amãna Bank has tied up with consumer electronics giant Singer to facilitate convenient purchasing through its Easy Payment Plan. Through this financing scheme customers can purchases electronics, personal appliances, household appliances, furniture and many more from any Singer, Singer Mega, Singer Plus, Singer Home and Sisil World showrooms and dealers islandwide. The Bank will provide competitive financing for the products in the range from Rs.25,000 to Rs.300,000 including the financing of bundled products, up to 3 years payment period and requires no guarantors. This facility is available for employees of government institutes, public listed companies and pre-approved companies.

A ceremony was recently held at the Singer Head Office to sign the memorandum of understanding between the two parties.

Speaking on the tie up Amãna Bank’s Chief Executive Officer Mr Mohamed Azmeer said “We are very happy to have partnered with a famous household name Singer to offer this unique financing scheme of ours. Through this tie-up we hope to make purchasing of Singer products more affordable and convenient, targeting both young executives, to purchase products like a smartphone or a laptop as well as senior managers, to purchase a state of the art side-by-side refrigerator or a smart TV.”

Commenting on the same, Singer Chief Executive Officer Mr.Asoka Pieris said “Singer is proud to partner with Amãna Bank on this financing proposition. We feel that many of our customers can benefit from this tie-up and will allow customers to improve their lifestyle. I am very thankful of Amãna Bank for introducing this convenient payment scheme with us.”

Amãna Bank is the first Licensed Commercial Bank in Sri Lanka to operate in complete harmony with the non-interest based Islamic banking model. 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, Amãna Bank is making inroads within the Sri Lankan banking industry and is focused on capitalizing the growing market potential for the unique banking model across the country.

With over 400 sales outlets and over 150 service centres, SINGER Sri Lanka PLC is the largest retailer of consumer durables in the country. The company continues to be the favourite among all Sri Lankans, and has also won numerous accolades from the business community, including recognition as one of the country’s Best Corporate Citizens.

31st of October 2014

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