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Islamic Finance Briefing - Categorized | Finance, Performance more

Sri Lanka: LOLC takes Islamic financing to greater heights

Posted on 23 August 2010

From Sundaytimes.lk: The LOLC group entered the area of Islamic Finance as a part of the company’s product development initiatives. LOLC being the first leasing company in Sri Lanka was used to mainly dealing in the area of auto finance in the form of Hire purchase, Leasing and Loans etc. whilst also boasting of a large customer base.
Towards the mid 90s the company experienced a rapid decline in their Muslim customers, due to the fact that leasing was perceived as an interest based product…………………………………….Full Article: Source

 
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