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.

Sri Lanka could issue Sukuk and take the lead in becoming a regional centre for Islamic financial services. Bar Association President Shibly Aziz said this can open Sri Lanka to a new niche of investors, rather than the conventional ones. Sri Lanka already has more than twenty years experience in Islamic finance with an approved Islamic bank in operations.

A report by Standard and Poor says that Islamic financing could support Indonesia to fulfill its infrastructure plans. Islamic financing would be able to bridge gaps in funding major infrastructure development projects. The same strategy was used by Malaysia. The situation in Indonesia is explained by the country's large needs to develop the infrastructure, the willingness of the government to attract private capital to fund these investments, and the increasing demand for investable assets of a growing domestic Islamic finance market.