Amana Bank Senior Vice President & Chief Risk Officer Mr M M S Quvylidh receiving the Best Bank Award from Mr S Ganesh Kumar, Former Executive Director - Reserve Bank of India

Amana Bank emerged as the Best Bank in Sri Lanka at the prestigious Indian Chamber of Commerce (ICC) Emerging Asia Banking Awards 2025, adjudicated by PwC. Competing with many well-established local banks, this pinnacle award, recognises Amana Bank’s continuous performance and growth during the last three years, customer-centric approach, and pioneering role in promoting its non-interest based people friendly and development focussed banking model. 

In addition to this coveted title, Amana Bank was also honoured with the award for Best Performance on Asset Quality, reflecting the Bank’s disciplined credit management, prudent risk assessment, and strong financial resilience.

Organized by the Indian Chamber of Commerce, the Emerging Asia Banking Awards are regarded as a premier recognition of excellence across the region’s financial sector. The Awards were adjudicated among entries from The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) countries, including Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. With PwC serving as Process Reviewer, the evaluation process ensured fairness, transparency, and rigor across all submissions. In deciding the Best Bank, key performance and growth metrics measured by PwC include Total Assets, Advances, Deposits, CASA, Term Deposits, Financing Income, Profit After Tax, NPA, Liquidity Coverage Ratios and Green Financing.  

The awards ceremony was held recently in New Delhi, where Amana Bank was represented by its Senior Vice President/Chief Risk Officer, M M S Quvylidh. The Sri Lankan partner for the Awards was the Association of Professional Bankers (APB), underscoring the collaborative role of Sri Lanka in this regional initiative.

The awards were preceded by the Emerging Asia Banking Conclave, which brought together industry leaders to explore the theme “From Responsible AI to SME Growth & Wealth Portfolios — witness the Great Banking Leap of the BIMSTEC Region.” Among the distinguished speakers was Central Bank of Sri Lanka Deputy Governor J. P. R. Karunaratne, who shared insights on Information Technology Risks in the Banking Industry in the context of Emerging Economies.

Commenting on the achievement, Amana Bank’s Chairman Asgi Akbarally stated “Being recognized as the Best Bank in Sri Lanka at the Emerging Asia Banking Awards 2025 is a truly rewarding milestone for Amana Bank. This accolade is a strong testament to the resilience of our unique non-interest-based banking model, the robustness of our governance frameworks, and the trust we have cultivated within the financial industry. As a relatively young institution, this recognition not only reaffirms our growth trajectory but also signals exciting opportunities for our investors to be part of our ongoing journey of success. We remain steadfast in our commitment to positioning Amana Bank as a transformative force in Sri Lanka’s banking landscape.”

Also sharing his views Managing Director/CEO Mohamed Azmeer said: “We are deeply honoured to be recognized as the Best Bank in Sri Lanka at the Emerging Asia Banking Awards 2025. This accolade, together with the award for Best Performance on Asset Quality, is a testament to the strength of our people friendly and development focussed banking model and our unwavering focus on delivering value to our customers and stakeholders. These achievements reflect the passion and dedication of our team, as well as the trust and confidence placed in us by our valued customers and

partners. As we celebrate this recognition, we remain committed to shaping the future of banking in Sri Lanka through innovation, inclusivity, and ethical practices that drive long-term progress, staying true to our mission of Enabling Growth and Enriching Lives.”

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks was recognized amongst the Top 25 Strongest Islamic Bank’s in the World by The Asian Banker. 

Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.

Amana Bank Senior Vice President & Chief Risk Officer Mr M M S Quvylidh receiving the Best Performance on Asset Quality Award from Mr Arijit Basu, Non-Executive Chairman – HDB Financials Ltd and Former Managing Director – State Bank of India