• Islamic Finance

  • Mudharabah

  • Ijarah

  • Murabaha

  • Diminishing Musharakah

  • Wakala


Welcome To The World Of Alternate Finance

Commercial Leasing and Finance PLC (CLC), a member of the LOLC Group is one of Sri Lanka’s leading finance service providers offering solutions ranging from leasing, fixed deposits, savings loans and factoring. CLC with the over 27 years of excellence in redefining the finance industry in Sri Lanka has stepped towards the fastest growing Islamic Finance industry by unveiling ‘CLC Islamic Finance’, the Islamic Business Division of Commercial Leasing & Finance PLC.

Islamic Business Division (IBD) is a dedicated Business Unit set up under Commercial Leasing and Finance regulatory license to implement Shari’ah Compliance Finance solutions. This unit consists of trained staff members who handle Islamic Finance and the operation is inspected by an In House Shari’ah Supervisory Board. The prime objective of IBD is to ensure Shari’ah compliancy in all business transactions whilst offering our customers total Islamic Finance Solutions to satisfy their requirements. The IBD is geared to offer vast range of Alternate Finance Solutions which suits all customer requirements.

The guiding principles of the Islamic Business Division will be as followed;

  1. Segregation of Funds in-flow and out-flow
  2. Transparency in every transaction
  3. Provide innovative financial solutions to suite every customer requirement
  4. Fast efficient and responsible service to all stake holders
  5. Be a responsible corporate citizen to the society and adopt best practice to serve the best to our customers.

The following eminent scholars represent the Shari’ah Supervisory Board (SSB) of the Islamic Business Division of CLC;

  1. Ash-Shaikh Fazil Farook (Chairman of the SSB)
  2. Ash-Shaikh Murshid Mulaffer (Member of the SSB)
  3. Ash-Shaikh / Mufthi Shafique Jakhura (Member of the SSB)

As per the directives received from the SSB and guiding principles of Islamic Finance, the Islamic Business Division has below features;

  1. Special clearance to function as a ‘Islamic Finance Window’ from the Central Bank of Sri Lanka
  2. Separate Bank Accounts for Funds In-flow and Out-Flow
  3. Separate General Ledger System
  4. Separate IT System
  5. Fully Trained Staff Members

Having equipped with above features and values, the Islamic Financial solutions are offered through all existing Commercial Leasing and Finance PLC., branches.

Key Facts:


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Silmy – 0776 143 704
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