OUR ALIGNMENT TO SDG

In line with global initiatives towards Sustainable Development, Sri Lanka too has undertaken its drive towards achieving UN Sustainable Development Goals by inculcating objectives to its national policies. Accordingly, in line with the country initiative, Amãna Bank too, in its individual capacity renders its support to the movement.

Amãna Bank’s unique banking model enshrines sustainability in its undertaking of financing and banking activities with the logic that funds are raised and invested in asset-based transactions through equitable, contractual arrangements that promote partnership and the sharing of profit and loss for the benefit of the wider economy, for which the industry is branded as sustainable financing. Stemming from this, the Bank engaged and aligned with the larger community towards achieving UN Sustainable Development Goals in line with the Bank’s mission of enabling growth and enriching lives.

GOAL 1: No Poverty

Our award winning Gold Certificate Financing solutions continues to be of immense assistance to the underserved segments of the country, providing financial inclusion especially for those who were financially challenged. At a time when the Covid-19 pandemic caused financial uncertainty, many people both at individual and business capacity, looked forward to the Bank’s people friendly Gold Certificate Financing solutions to assist them with their urgent financial requirements for which the Bank increased the percentage of financing against the value of gold and also provided grace periods for settlement. Over the years the acceptance for this solution has increased as it provides the option of convenient credit at grass root levels to help fund personal as well as other micro industries. Further, through the facilitation of an environment of privacy and security for lady customers through exclusive ladies units, this solution has also helped empower women, who were hitherto not provided the service they deserved.

GOAL 4: Quality Education

While continuing to contribute towards many community reach programmes which focused on education through its CSR and Charity Fund activities, the Bank’s outlook on quality education also extends towards supporting improvement in education with specific focus on financial literacy through digital means leveraging on the Bank’s Knowledge Marketing drive. Due to the misconceptions held, and the unfamiliarity of our unique banking methodology, Amãna Bank has taken the onus upon itself to help various stakeholders understand and discover the true essence of Islamic Banking and Finance. Having reaped success from the activities done thus far, Amãna Bank is confident that with more and more customers having a proper understanding of the banking model will propel more people to adapt it.

GOAL 5: Gender Equality

With women playing a key role in shaping today’s society, the Bank supports the development of women empowerment and women entrepreneurship through providing them financial independence. Serving over 146,000 female customers, with access to 8 exclusive Ladies Banking units across the country, the Bank provides the much needed privacy and comfort for ladies to bank at the convenience. The Bank offers customized products for Ladies including a Ladies Savings Account, Ladies Current Account and Ladies Debit Card, thereby supporting the rising number of women entrepreneurs engaged in new business models.

GOAL 7: Affordable and Clean Energy

The Bank has been an avid promoter of the use of green energy by encouraging and financing customers to invest in renewable energy projects such as solar, hydro, wind power and biomass thereby reducing dependency on fossil fuels. During the year, the Bank increased its financing on large-scale renewable energy projects which included Mini Hydro Power Plants and Solar Farms, through which over 15,500 MWh of power was generated to the National Grid reducing 12,000 tons of CO2 emission into the atmosphere. At an individual level, the Bank also promotes households to switch to green energy by providing affordable financing solutions. Further, testifying the Bank’s commitment to go green, the electricity to Amãna Bank’s Corporate Office is also generated through solar energy for which 93,425 kWh of energy was generated during 2020.

GOAL 10: Reduce Inequalities

By providing orphan children not only a chance at life, but a choice in their future, our OrphanCare initiative continues to provide maturing orphans an equal footing as they enter adult life. Please visit our OrphanCare page (www.amanabank.lk/orphan-care) for a comprehensive review of the Bank’s flagship community reach programme and the progress made thus far.

GOAL 12: Responsible Consumption and Production

The Bank encourages businesses as well as its operations to adopt responsible consumption and production best practices. While providing competitive financing for customers that promote responsible consumption and production, the Bank also takes steps in this direction by facilitating and encouraging customers to switch from traditional banking methods to digital banking ways which reduces wastage of time, money and resources by promoting online account opening, SMS alerts, e-statements, voucher-less deposits, PIN via SMS, as well as a host of services accessible through the ‘Message to Bank’ option available on the internet banking platform. The Bank has also encourages its employees to foster a culture of responsible consumptions within their departments which has resulted in many adapting ‘green’ measures and initiatives towards reducing, reusing and recycling.

GOAL 14: Life Below Water

Marine biodiversity is critical to the health of people and our planet. Marine protected areas need to be effectively managed and well-resourced while reducing overfishing, marine pollution and ocean acidification. To assist on this milestone, the Bank enabled and facilitated the development and growth of Sri Lanka’s first ever revolutionary sustainable aquaculture fish farm thereby assisting to manage and protect marine and coastal ecosystems. The Bank also supports local industries that re-use day to day plastic waste as their key raw material, thereby reducing the plastic waste entering our oceans.

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