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Islamic Finance in Non-Muslim Countries: Sri Lankan Perspective

Islamic Finance in Non-Muslim Countries: Sri Lankan Perspective Mohamed Azmeer, CEO Amãna Bank PLC. Islamic Finance: A Global Perspective. SRI LANKA. GLOBAL. IF Penetration : 0.9%. IF Penetration : 1.5%. Muslims : 23.7%. Muslims : 9.7%. Source: P ew Research (USA) / IFSB.

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Islamic Finance in Non-Muslim Countries: Sri Lankan Perspective

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  1. Islamic Finance in Non-Muslim Countries: Sri Lankan Perspective Mohamed Azmeer, CEO Amãna Bank PLC

  2. Islamic Finance: A Global Perspective SRI LANKA GLOBAL IF Penetration : 0.9% IF Penetration : 1.5% Muslims : 23.7% Muslims : 9.7% Source: Pew Research (USA) / IFSB

  3. Islamic Finance Development Index 47 Muslim Countries 84 Non - Muslim Countries 131 COUNTRIES 15 Nations Ranked Ranked 13th QUANTITATIVE DEVELOPMENT AWARENESS KNOWLEDGE CSR GOVERNANCE

  4. Sri Lanka’s country score amongst Non Muslim Countries SRI LANKA SOUTH AFRICA SINGAPORE UNITED KINGDOM 22.89 30.65 20.04 13.54 QUANTITATIVE DEVELOPMENT AWARENESS KNOWLEDGE CSR GOVERNANCE

  5. Sri Lankan Journey of Islamic Finance Risk Model Congruence Model Congruence Risk Governance Governance Secure Legal & Regulatory Acceptance Demonstrate Market Need & Viability Demonstrate Market Need & Viability 1997 1997 Compliance Compliance Addition of two Clauses to Banking Act Universal Proposition

  6. Universal Value Proposition of Islamic Finance Financial Sector Excessive Growth in Isolation DEBT TRAP Financial Sector FINANCIAL Real Sector Fiscal Sector DISCIPLINE ACCESSIBILITY INCLUSION External Sector

  7. Sri Lanka: Islamic Finance Industry 1 Fully Fledged Islamic Bank 2 Windows owned by state banks & FIs 14 Windows owned by private banks & FIs 3 Takaful Insurance Companies 4 Sharia compliant unit trusts

  8. Sri Lanka: Islamic Finance Reach All 9Provinces All 25Districts

  9. Sri Lanka: Islamic Finance Impact Fisheries Infrastructure Agriculture Aviation & Transport Manufacturing Trading Shipping & Logistics Services

  10. Global Recognition Global Innovation Award Best Up-and-Coming Islamic Bank of the World Best Islamic Bank In South Asia

  11. Sri Lankan Experience: Product Innovation Legal & Regulatory Acceptance Market Need Model Congruence

  12. Thank you

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