Amana Bank, Sri Lanka’s only full-fledged Islamic lender, plans to double its branches by expanding in rural areas, forecasting a six-fold growth in demand. The company, which started in August 2011, will add five outlets this year to its existing 14 and nine in 2013, Colombo-based chief executive officer Faizal Salieh said.
Sri Lankan Islamic banking assets could reach $1.5bn from $250mn now, he added, without specifying a timeframe. Amana posted a net profit of 178mn Sri Lankan rupees ($1.4mn) in the nine months through September and had assets of SLR18bn, according to Salieh………………………………………..Full Article: Source