Amãna Bank, Sri Lanka's torchbearer of people friendly banking, has recently signed a Memorandum of Understanding with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, to expand on its strategic synergies. ICD along with the IsDB group has had a long-term partnership with Amãna Bank since 2011, and currently holds a collective 29.97% shareholding in the Bank. Having recognized the growth potentials and investment opportunities in ICD member countries, both ICD and Amãna Bank through this joint strategic collaboration intend to cooperate and work closely together in cross-selling and sourcing syndication mandates, term finance, line of financing, advisory, sukuk transactions, asset management, PPP, equity and other investment opportunities or transactions of mutual interest to both parties. Ayman Sejiny, chief executive officer of ICD, and Osman Kassim, chairman Amãna Bank, signed the MoU. During the signing ceremony, Sejiny commented: "We are pleased to continue our partnership with Amãna Bank. We believe that Amana Bank can play a valuable role in the region and in the global industry towards the furtherance of Islamic Banking across the world, and this collaboration is the first of many steps towards achieving this." Commenting on this historic occasion Kassim said, "We are honored to further expand on our synergies with ICD and IsDB Group which has been beneficial towards the Bank's growth. With this new collaborative partnership inked, I am confident that Amãna Bank will further its cause in promoting people friendly banking across the South Asian region. I am thankful for ICD's continued confidence in our operations."
