With the aim of helping those affected by the Covid-19 pandemic towards the government’s Restart Sri Lanka initiative, Amãna Bank’s Gold Certificate Financing now facilitates an increased amount in Emergency Cash, where customers can obtain up to Rs 70,000 per 22 karat Gold Sovereign by pledging their Gold Safekeeping Certificate. Introduced as a non-interest based alternative for conventional pawning, Amãna Bank’s award winning Gold Certificate Financing solution is aligned with the Bank’s strategic focus on reaching out to the un-Banked under-banked segments of the market. It is also aligned with economic needs of the country to facilitate convenient credit at the grass root levels to help fund agriculture and other small industries.
Customers pledging their Gold Safekeeping Certificate can obtain a zero cost loan with a credit period of up to 12 months, where at maturity the customer is required to only pay the borrowed loan amount without any additional payments. To further understand this financing solution, customers are invited to watch an infomercial video available on bit.ly/AB_EmergencyCash
Commenting on the product solution the Bank’s Head of Retail Advances Ramakrishnan Kirubakaran said “During these unprecedented times many are facing difficulties and as a people friendly bank we understand their predicament for which we have increased our Gold Certificate Financing Emergency Cash amount to benefit their emergency financial requirements.”
Amãna Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based people friendly banking model. With the mission of Enabling Growth and Enriching Lives, the Bank reaches out to its customers through a growing network of branches and Self Banking Centres spread across the country while having access to 4500 +ATMs for withdrawals and 850+ Pay&Go Kiosks for real time deposits. Customer can also benefit from an array of customer conveniences such as Internet & Mobile Banking, 24x7 Cash Deposit Machines and Banking Units Exclusively for Ladies.
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 having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Amãna Bank does not have any subsidiaries, associates or affiliated institutions, other than the ‘OrphanCare’ Trust.