HNB Al Najaah underpins a decade of Islamic banking excellence

Hatton National Bank PLC’s Islamic Banking business, celebrates a decade of successful operations under the ‘Al Najaah’ brand.

A specialist in Islamic Banking with deep expertise in performing large ticket and complex transactions, HNB Al Najaah is now gearing up for a new phase of growth, leveraging on HNB’s advanced tech capabilities in order to streamline service delivery in the new normal.

“By its nature, Islamic Banking enables opportunities for steady growth. Particularly at a time of such severe volatility, this stability is immensely valuable. Taking into consideration the fact that globally, Islamic finance is estimated to have a value of US$ 2.2 trillion, we see potential for Islamic Banking to make vital contributions in accelerating Sri Lanka’s economic revival. I take this opportunity to express my sincere gratitude and congratulate the Al Najaah team on reaching this vital milestone, and I look forward to working closely with the team to help them gear up for our next phase of growth,” HNB Managing Director/CEO, Jonathan Alles said.

Established in 2012 as a small unit with five staff members under the capable leadership of HNB AGM- Head of Islamic Banking, and local pioneer in the field of Islamic banking and finance, Hisham Ally, the division has enjoyed strong growth over the past decade. Today, the HNB Al Najaah has grown to 40 staff with a dedicated office in Marine Drive, Colombo 03 and a further six Islamic Banking centers in Pettah, Kandy, Kalmunai, Beruwela, Akurana and Kattankudy.

“HNB has a proven track record in serving the needs of diverse business segments and communities. For 134 years we have proven our commitment by aligning ourselves to the needs of the Sri Lankan economy and its development. In this manner, we have been a partner in the progress of generations of Sri Lankans from all walks of life. Al Najaah is a testimony how we have embraced being part of this global banking proposition.

“Our Islamic banking proposition has supported many of the country’s SME’s with evolving products and services. We have also won many accolades over the past decade, in recognition of the outstanding contributions and remarkable growth achieved in Islamic Banking,” HNB DGM – Wholesale Banking Group, Damith Pallewatte said.