ABC Investments launches first Islamic Credit Card in Sri Lanka

colomboABC Investments launches first Islamic Credit Card in Sri Lanka

 

The ABC Investments Limited (Barakah Islamic Financial Services) ceremonially launched its first Islamic Credit Card in Sri Lanka at Holiday Inn Hotel, Colombo recently. This Card is tittled ‘ABC Barakah Credit Card.’ Also, this is the third Islamic Credit Card in the region. First in Malaysia, second in Pakistan and third in Sri Lanka. The first Islamic Credit Card in the World was launched in 2002 by ABC Islamic Bank in Bahrain.

ABC Investments Managing Director M.I.M. Razeek speaking at the launching ceremony said, “The ABC Group originating from shipping, freight forwarding, plantation, insurance convention, Credit Card, Islamic Investments under ABC Investments Ltd. The ABC Investment Limited (Barakah Islamic Financial Services) being operated strictly following the principles of Islamic Shari’ah Board. Every step is only upon the approval of its Shari’ ah Supervisory Board. The Board is led by Ash Sheikh Niyas Moulavi.

This Cards are issued in four types: – ABC Barakah – THAHAB (Gold) Card; ABC Barakah – ZAITOON (Olive) Card; ABC Barakah – BALAATEEN (Platinum) Card and ABC Barakah – MALA ( Elite) Card

The ABC Barakah has established three branches within the eight months. The branches are City Branch in Colpetty, Colombo, Pettah Branch in Main Street and Hill City Branch in Kandy. They hope to open more branches in the Eastern Province in Kattankudy, Eravur and Kalmunai.

Ash Sheikh M.I.M. Rizvi Mufthi, President of the All Ceylon Jamiyathul Ulama, Secretary Ash Sheikh Abdul Nazar and ABC Investments Shari’ah Board President Ash Sheikh Niyas Moulavi also addressed the launching ceremony.

source : bottomline

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