‘Bridging the Gap’ the educational CSR project of Al-Salamah Islamic Finance Unit of LB Finance PLC which is one of the early pioneers of Islamic Financing in the Sri Lankan Non- Banking Financial sector, was recognized as one of the top three CSR projects in the entire South Asia at the recently concluded second Islamic Finance Forum for South Asia (IFFSA) Awards 2017 in Colombo.
The competitive IFFSA Awards, evaluated and assessed by a panel of independent judges of repute recognizes the contributions made by individuals and institutions to the Islamic Business and Finance (IBF) industry in the South Asian region was held at the conclusion of the IFFSA conference with the participation of delegates from five countries.
Considered to be as one of the flagship educational CSR initiatives of LB Finance PLC, ‘Bridging the Gap’ is an ambitious programme funded from the charity fund of the Islamic Financing Unit of the company, focusing on uplifting the standard of educational knowledge amongst rural GCE Ordinary Level students in remote underprivileged schools plagued by sheer lack of basic educational facilities.
The programme which won the Bronze award in the ‘Best CSR Project’ category, annually conducts a series of seminars for the Grade 11 students since 2013 to better equip and prepare themselves to successfully face the GCE Ordinary Level Examination.
These seminars which has benefited over 3,000 students so far are conducted in carefully selected remote rural areas which lack even the basic required number of school teachers to disseminate knowledge, a prerequisite in acquiring and gaining knowledge.
“We are extremely pleased with this international Islamic Finance award received in recognition of our steadfast commitment to alleviate the inequality of educational facilities that exist between rural, remote schools and urban, semi urban schools. Lack of teachers deprive the right to equal opportunity to learn and create a significant knowledge gap between students of same age in different parts of the country, which becomes critical at the GCE OL examination, the stepping stone to pursue a student’s higher educational goals in life,” said Managing Director of LB Finance PLC, Sumith Adihetty.
LB Finance became one of the pioneers in the Islamic financing in the Non-Banking Financial sector when they established Al-Salamah Islamic Finance Unit in 2010 offering financial services conforming to all the guidelines and requirements stipulated by the Islamic law.
LB Al-Salamah went on to be awarded as the best emerging Islamic Finance Window of the year in 2012 at the first SLIBFI Awards, and offers a wide range of personalized products and services including Mudarabah fixed and savings deposits, Wakala term investments, Ijarah leasing facilities and Murabaha trade financing.
Today LB Al-Salamah is considered to be one of the leading Islamic Finance Windows in the Sri Lankan Non-Banking Financial sector.
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