IslamicFinance.de

The shares of Amana Takaful Life will be listed on the Colombo Stock Exchange on Thursday. The initial public offering of Amana Takaful Life by way of an offer for sale of 75 million rupees was oversubscribed at its opening day on 21st July, 2016. The company offered 50 million ordinary voting shares at 1.50 rupees per share which represents 10% of its total stake.

Adam Capital Micro Credit Ltd, a Sharia compliant company and wholly owned subsidiary of Adam Capital PLC, entered in to an agreement with Islamic Insurance provider Amana Takaful Life Limited to promote their products, playing a facilitator role on a fee sharing basis. Adam Capital Micro Credit business has grown steadily since commencing operations in July 2015, and expects to generate steady additional fee based income by this arrangement. The plan is to serve the underserved community within a radius of 15km from the office located at Grandpass Road, Colombo 14, assisting them to up lift their living standards.

Amana Takaful will launch Sri Lanka’s first Sharia’h compliant unit linked Insurance Plan. . The product is branded “Amana Takaful Prosper” and is the first of its kind. The customer will be able to obtain a Takaful (insurance) cover as well as enjoy a choice of Sharia’h compliant investment options.
Reyaz Jeffrey, General Manager/ Chief Executive Officer, Amana Takaful Life, stated that this option was right for all Sri Lankans because it's a part of the expansion plans of product offerings in the backdrop of a peaceful environment and apt economic conditions.