Amana Bank is honoured to announce its partnership with Biodiversity Sri Lanka (BSL) for its "Life to Mangroves" project in Puttalam District, furthering the Bank’s commitment to sustainability and environmental preservation. This initiative focuses on restoring and conserving Sri Lanka's vital mangrove ecosystems, which are crucial in coastal protection, biodiversity, and climate resilience.
Mangroves act as natural barriers against coastal erosion, provide habitats for marine life, and serve as significant carbon sinks. Through the "Life to Mangroves" project, Amana Bank and BSL aim to protect these essential ecosystems while educating local communities about their importance. The project aims to restore degraded mangrove forest in the Anawilundawa wetland sanctuary, one of six wetland sanctuaries under the Ramsar convention, contributing to reducing Sri Lanka's vulnerability to climate change.
Anawilundawa sanctuary consists of an ancient system of tanks, harbouring quite a few species of threatened fish, amphibians, birds, mammals, and reptiles. The sanctuary is an important refuge for migratory birds and supports freshwater fish species, including at least three endemic species. Other partners involved in the project include the Department of Wildlife Conservation (DWC), and experts from Wayamba University and the International Union for Conservation of Nature (IUCN).
Commenting on the partnership, Amana Bank's Managing Director/CEO, Mohamed Azmeer, said: "Amana Bank is deeply committed to driving sustainable initiatives that positively impact our environment and communities. The 'Life to Mangroves' project aligns with our core values of stewardship and responsibility based on our people and planet friendly Banking Model, as we aim to protect and restore Sri Lanka's unique ecosystems and paves way for climate resilience. This collaboration with Biodiversity Sri Lanka allows us to play a vital role in safeguarding our natural heritage for future generations."
Welcoming Amana Bank to the project, Dilhan C. Fernando, Chair of the Board of Directors of Biodiversity Sri Lanka, stated: "We are delighted to have Amana Bank onboard for the 'Life to Our Mangroves' initiative. This partnership is a significant step toward achieving our shared goal of conserving Sri Lanka's biodiversity and empowering coastal communities. Amana Bank's commitment to sustainable development makes them a valuable Banking partner, and we look forward to working together to protect and restore our precious mangrove ecosystems."
Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange, with Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks continued to be recognised amongst the Top 50 Strongest Islamic Bank’s in the World by The Asian Banker. Fitch Ratings Sri Lanka recently upgraded Amana Bank’s national long-term rating from BB+(lka) to an investment grade rating of BBB-(lkr), with a stable outlook, opening up multiple opportunities for growth and expansion.
Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.
Image Caption - The ceremony of official handover of the MoU between the Amana Bank PLC and Biodiversity Sri Lanka
Left to right: Mandakini Eragama (Programme Officer - Biodiversity Sri Lanka), Anupama Gunawardana (Sustainability Coordinator - Amana Bank PLC), Maznavi Rumy (Manager-Strategy & Sustainability - Amana Bank PLC), Fazly Marikar (Vice President of Amana Bank – Strategy & Sustainability), Mohamed Azmeer (Managing Director / CEO of Amana Bank PLC,) Ranjith Pandithage (CEO/Director - Biodiversity Sri Lanka)
