Partnership to promote Shariah financial products
Shariah financial products are not just for Muslims, but also for
those who value the concept of equal profit-sharing, to reap the
benefits of their businesses.
Chairman of Wealth Lanka Management,
exchanges the agreement with Director AI Tayseer Edwin Das
To boost the knowledge, concepts and ideals of Shariah finance and
ethical business practices in Sri Lanka, local consultancy firm Wealth
Lanka Management signed a Memorandum of Understanding with Al Tayseer
Advisory Services, an Islamic finance specialist with a strong presence
in Pakistan and Malaysia.
Chairman of Wealth Lanka Management, Mangala Boyagoda said that by
tying up with Al Tayseer, they are partnering to give the best financial
services in Sri Lanka after signing the MoU.
Al Tayseer is a reputed finance firm specialising in corporate
finance, international business, risk management and investment advisory
Boyagoda said, "We selected Al Tayseer because we valued their
integrity and the fact that Shariah financial products are quickly
gaining popularity, not only in Sri Lanka, but around the world as a
reliable financial scheme and for us, they are the best Shariah
The strength of Wealth Lanka will be combined with Al Tayseer to
incorporate true Shariah principles because there is a demand for such
financial products in the market. "Our focus will be to develop short
and medium-term Shariah-based financial instruments for banks, finance
companies, leasing companies, corporate entities and the Government,"
Director Al Tayseer, Fahd Hashim told a press conference, "We have
renowned clients such as Tata Cement and we are constantly improving our
services for their benefit. Most recently, we gave financial advice to a
sugar-producing factory in Pakistan which became the biggest producer of
sugar within a year."
Hashim said potential clients in the USA are beginning to realise
that Shariah financial advice helps them greatly in terms of ensuring
profitability and making sure all stakeholders and employees benefit
Al Tayseer believes in the ethics of business which is not all about
making profits. It is a people-oriented company which values the
reputation it has built by forging sustainable partnerships with