The Association of Alternative Financial Institutions (AAFI) in partnership with Amana Bank hosted its inaugural webinar as part of an on-going series of webinars on educating the general public on the non-interest based Islamic finance or Alternative Financing solutions. The webinar series, initiated by AAFI represented a significant step towards empowering individuals and organizations with a comprehensive understanding of the principles, practices and benefits of Islamic finance.
The inaugural session titled ‘Partnership based Financing’ took place virtually and featured a presentation and a panel discussion, with esteemed panelists who brought their expertise to the table. Ravi Abeysuriya, the President of AAFI, renowned for establishing several startups in the financial services sector was a panelist at this session, which was moderated by Rifka Ziyard, the Secretary of AAFI, who also holds the role of principal – Tax & Regulatory at KPMG in Sri Lanka. Amana Bank was represented in the panel by Muath Mubarak, Manager – Knowledge Marketing and Financial Inclusion.
Muath Mubarak, delivered the key presentation on ‘Partnership based Financing’ and captivated the audience through his simplified explanations which facilitated a deep dive into the topic. Participants benefited from the valuable insights into the process of Partnership based Financing, learning how it functions as a flexible tool in the domain of banking without interest. The session explored the various applications of this financing model, shedding light on its effectiveness and highlighting its potential for addressing diverse financial needs.
Commenting on the inaugural webinar President of AAFI Ravi Abeysuriya said “We are honoured to have partnered with Amana Bank to deliver the initial webinar towards education of the general public on the alternative financing model. We believe such a webinar series will help not only disseminate knowledge but also debunk any misconception on this unique banking & finance model which can benefit all Sri Lankans”
