Orient Finance Archives

September 19, 2023

19^th September 2023 – Colombo: Orient Finance PLC, a renowned financial institution dedicated to empowering individuals and supporting businesses with its comprehensive range of products, services, and expertise, is thrilled to announce the inauguration of its latest branch in Piliyandala. This strategic expansion marks a significant milestone for Orient Finance, as it strengthens its nationwide presence with a network that now extends to a total of 33 branches.

In line with its dedication to providing top-tier financial services, while expanding their network, Orient Finance has also been on a journey of refurbishment and relocation throughout the past financial year. These efforts are aimed at better addressing the diverse financial needs of its valued clients and fostering stronger client engagement.

K.M.M. Jabir, Director/CEO of Orient Finance, expressed, “While we are investing considerably in digital channels, we have always believed that a physical presence offered by a strong branch network remains valuable for our customers. We want to bring our financial solutions to their doorstep. We are forging ahead with this mission and promise to deliver excellence, build lasting relationships based on trust and reliability. The opening of the Piliyandala branch is another significant step forward in this direction. Our dedicated team of professionals at the Piliyandala branch is wholeheartedly committed to delivering bespoke financial solutions and guiding our valued clients toward their financial aspirations.”

Orient Finance offers a comprehensive suite of financial services tailored to meet the specific needs of their customers. These services include mobilization of Deposits, Savings Accounts, Leasing, Gold Loans, Alternative Finance Solutions, Corporate Financing and many more.

The company brings 42 years of stability, strength, reliability and expertise to the financial industry. Progressively, Orient Finance PLC has established itself as a customer-focused financial service provider that prioritizes innovation and offers exceptional products and customer service. Orient Finance is licenced by the Central Bank of Sri Lanka and rated BB+ (stable) by LRA.

August 9, 2023

09^th August 2023 – Colombo: Orient Finance, a leading financial institution in Sri Lanka proudly announces its latest achievements at the esteemed ‘Sri Lanka Islamic Banking and Finance Industry Awards’. The Company’s Alternative Finance Business Unit (AFBU) has been honoured with two prestigious awards at the event – the highly coveted Gold Award for Emerging Islamic Finance Entity of the Year and the Merit Award for the Digital Marketing Campaign of the Year. These accolades reflect the AFBU’s dedication to excellence and innovation in the Islamic finance sector.

Orient Finance’s Alternative Finance Business Unit’s recognition as the Emerging Islamic Finance Entity of the Year marks a significant milestone in its journey. The company attributes its success to several key factors, its dedication to upholding the principles of Islamic Finance, ensuring ethical and Sharia-compliant practices, including a successful retail expansion, strategic investments in its people and team, commitment to excellent customer service, and a comprehensive range of products and services designed to cater to the diverse needs of its customers. These efforts have translated into remarkable results, with the Ijarah business generating over LKR 600 million and Wakalah term investments alone generating over LKR 500 million worth of business within a span of less than two years.

The Merit Award for the Digital Marketing Campaign of the Year has recognized the team’s approach to sharing creative content, implementing strategic target campaigns, and crafting innovative posts. Furthermore, their consistent communication of product features, adhering to compliance requirements and reaching precise target groups have also taken into consideration.

In response to the achievements, K.M.M. Jabir, the Director, and CEO of Orient Finance expressed, “We are thrilled and honoured to have received these prestigious accolades, which serve as a testament to Orient Finance’s unwavering commitment to upholding the principles of Islamic finance and providing ethical and responsible financial solutions across all our offerings. I would like to extend my sincere gratitude to our valued customers for entrusting us with their financial needs, and also to Ifath Zuhry, Head of the Alternative Finance Business Unit and his dedicated team, whose unwavering efforts have contributed significantly to the company’s growth. We will continue to provide responsible financial solutions that resonate with our customers’ values and beliefs, and enhance our offerings”

June 8, 2023

8^th June 2023, Colombo: Orient Finance PLC, a member of the Janashakthi Group, has received the prestigious Great Place to Work® Certification™ for the 2^nd consecutive year reinforcing their position as a great workplace in Sri Lanka, and reflecting the company’s dedication to fostering a positive work culture for their employees who are considered the organization’s most valuable assets.

Great Place to Work® is an independent analyst that conducts anonymous employee surveys and culture audits to evaluate workplace practices and culture. Based on their analysis, they help organizations develop high-trust, high-performance workplace cultures that promote employee well-being and business success. To become certified, companies undergo a thorough vetting process that includes employee feedback, workplace policies, and practices. The Certification™ is based on a rigorous evaluation of company culture, which includes an assessment of trust, fairness, respect, and camaraderie in the workplace.

Orient Finance, as they celebrate this noteworthy achievement, also highlights the organization’s participation rate of 81% in the Great Place to Work® Trust Index© employee perception survey that indicates the commitment of their employees for engagement, and receptiveness to take action in order to build an exceptional workplace culture.

Orient Finance considers a supportive and optimistic work environment to be crucial to the success of the overall organization. Weighing on this, Director / Chief Executive Officer K.M.M. Jabir shared his thoughts: “Receiving the Great Place to Work® Certification™ for a second year has confirmed that our ongoing efforts to cultivate a thriving workplace culture have been successful. We are proud of this achievement, but we understand the importance of leveraging it to further improve employee experiences, engagement, and retention. We remain committed to fostering a positive and supportive work environment that encourages innovation and creativity, as we believe that this is crucial for any organization to succeed.”

Progressively, Orient Finance PLC has established itself as a customer-focused financial service provider that prioritizes innovation and offers exceptional products and customer service. With 31 branches across Sri Lanka, the company provides an array of tailored financial services which includes mobilization of Deposits, Savings Accounts, Leasing, Hire Purchase, Gold Loans, Alternative Finance Solutions, Corporate Financing and more.

The Company is a member of the Janshakthi Group, which operates in the finance, insurance, and investment sectors. The ‘Janashakthi’ brand embodies a strong culture of unity and collaboration, rooted in the Group’s values of ethics, honesty, transparency, performance, respect, and collaboration. The Group also promotes diversity and merit-based decisions as part of its growth culture initiatives, creating a vibrant and rewarding workplace for all employees.

December 12, 2022

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Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, celebrates a year of excellence since launching its dedicated Alternative Finance Business Unit. The Alternative Finance Business Unit of Orient Finance strives to take Alternative Financing to greater heights by offering innovative Islamic Financial Solutions to the untouched market segments. The unit was formed under Shariah compliance along with the guidance of an experienced consultant.

“As we mark this key milestone of our Alternative Finance Business Unit, we are grateful to our employees and our customers for their support in our first year of operations. We are humbled by the customer confidence, trust and appreciation gained in this very short period of time. The team at Orient Finance is committed to deliver a service that goes the extra mile and our commitment to service excellence has enabled us to constantly push new boundaries and expand our offering portfolio. Our range of Alternative Financial Services are designed to address the changing needs of our customers in line with the guiding Islamic principles”, said K.M.M. Jabir, Executive Director and Chief Executive Officer of Orient Finance PLC.

The Alternative Financial Services team has managed to reach a portfolio of half a billion through Ijarah Leasing and contributed almost 5% for the entire leasing portfolio during the first year of operations. Wakalah Term Investments has managed to reach a portfolio of 0.4 billion during the period as well. Orient Finance currently operates in 31 branches island-wide with dedicated Alternative Finance Business Units in strategic locations including the Orient Finance Head Office located in Colombo 07, Kandy branch as well as the Batticaloa and Trincomalee branches, with a dedicated officer to serve the clients, at each location. Furthermore, a range of financial solutions including Wadia’h for Gold Storage, Wakalah for Business Financing and Diminishing Musharakah for Vehicle and Property financing services will be introduced to broaden the portfolio and the services offered.

The immense success of the business unit is a testament of the organization’s strategy and its fully compliant business model and the product portfolio backed by Orient Finance’s brand strength. Over the course of 40+ years, Orient Finance PLC has positioned itself as an innovative and a customer-centric financial service provider, introducing timely product offerings coupled with dedicated customer service. Orient Finance PLC continues to strengthen its portfolio of financial solutions and adds great value to the customers through its latest Orient Minor’s Savings Account, which is a part of the Group’s strategy, together with the combined strengths of the Janashakthi Group

September 30, 2022

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Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, has introduced the Orient Minor’s Savings Account in celebration of Children’s Day 2022. The account is designed to encourage children to start saving at a young age and guarantees stable returns at maturity to secure the child’s future.

The Orient Minor’s Savings Account offers great benefits such as attractive interest rates, attractive promotions, and special educational programmes that will benefit preschool education. Beginning their journey with Orient Finance and paving the way for a long-term relationship will be greatly beneficial for children and will ensure that they get a head-start in terms of financial services in the years to come. This will also assist its current customers to plan their children’s savings ahead of time, under one roof where stability and security will be guaranteed.

“With a trusted service for over 40 years, today we have further strengthened our portfolio of unique financial solutions with a Minor’s Savings account. We are committing to promote the good habit of saving from an early age and especially our existing customers will be really benefited as they can now plan their children’s future financials with their trusted financial service provider. We also look forward to investing in supporting preschool education through this latest introduction and it is also a testament to our stabilized service offering in the industry to support our community during these financially challenging times”, K. M. M. Jabir, Executive Director and Chief Executive Officer of Orient Finance PLC commented.

Good habits are essential for children to have a healthy lifestyle. In line with this vision, this Children’s Day, Orient Finance is introducing this special programme to nurture the future generation while instilling good habits. As such, saving from an early age helps the essential needs of children who step into adulthood, especially with their higher or overseas education, as well as assisting them in their early entrepreneurship.

Over the course of 40+ years, Orient Finance PLC has positioned itself as an innovative and a customer-centric financial service provider, offering timely product offerings coupled with dedicated customer service. Orient Finance PLC continues to strengthen its portfolio of financial solutions and adds great value to the customers through its latest Orient Minor’s Savings Account, which is a part of the Group’s strategy, together with the combined strengths of the Janashakthi Group.

August 22, 2022

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Posting a steady performance, Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, recorded a 27% increase in the company’s turnover with LKR 809.8 Mn for the first quarter of the financial year 2022-23. Indicating a growth of 11% in comparison to the corresponding period in the previous financial year, the company recorded a profit before tax of LKR 66.4 Mn for the period under review.

Furthermore, illustrating the Company’s stability, Orient Finance PLC recorded a total capital adequacy ratio (CAR) of 15.94% as at 30th June 2022 which surpasses the required total capital adequacy ratio of 14% stipulated by the Central Bank of Sri Lanka for the well-capitalised category with assets less than Rs. 100 Bn. As such, the company continues to meet the required regulations and is categorized as a well-capitalised Company in line with the guidelines of Central Bank of Sri Lanka.

“Orient Finance has upheld its commitment to its stakeholders to maintain a steady course while driving a sustainable performance. Our team consistently strived to deliver and ensure that the needs of our customers are met. This was not an easy task, yet we succeeded and achieved sustained growth, in the interest of all our stakeholders. As we continue to navigate the evolving challenges, our advantageous position as a member of Janashakthi Group will strengthen our ability to continue our growth momentum”, said Rajendra Theagarajah, Chairman of Orient Finance PLC.

“With an insight driven strategy to create value for all stakeholders, we crafted our strategy to meet the current demand with innovative and timely financial solutions. We will continue to navigate the current challenging economic environment with market insights and dedicated customer care. Additionally, we are proud to have a strong CAR ratio as this demonstrates our ability to withstand the changes in the external environment and deliver excellence to our customers consistently”, said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.

Over the course of 41 years, Orient Finance PLC has positioned itself as an innovative, customer-centric financial service provider, offering timely product offerings coupled with dedicated customer service. Focused on providing win-win solutions to all customers for a long-term mutual gain, Orient Finance will continue to step up and lead the nation’s recovery by facilitating financial well-being. The new strategic focus and initiatives have already begun to propel Orient Finance towards sustainable growth in this exciting era of growth and excellence.

August 1, 2022

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Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, partners with Greasemonkey.lk, Sri Lanka’s largest automobile e-commerce platform to offer their customers special offers and discounts as the leading financial institution celebrates its 41^st anniversary.

As part of the partnership, Greasemonkey.lk will offer Orient Finance customers special discounts on a variety of automobile accessories and essentials, including spare parts, auto care products, engine oil and lubricants, vehicle condition report service and many more. All Orient Finance customers will be provided a special code to avail the special offers online via www.greasemonkey.lk, and to ensure convenience, the purchased products will be delivered right to the doorstep.

Commenting on the partnership, K.M.M. Jabir, Executive Director and Chief Executive Officer of Orient Finance PLC said, “We are happy to collaborate with Greasemonkey.lk to offer this value-added service to our valuable customers. Given the challenging times we face, we’ve worked especially hard to empower our customers with multiple ways of cost savings to utilize their finances effectively through these value additions. As the purchasing experience is in a few clicks with hassle free doorstep delivery, this ensures that our customers are offered with convenient and timely solutions to fulfill their needs. We hope that our customers will make use of this exclusive offer and reap its benefits.”

Furthermore, “We would like to sincerely thank all our customers, employees and partners for their patronage and support over the last four decades. This year, as we celebrate our 41st anniversary, we renew our commitment to deliver a service that goes that extra mile, beyond the norms to help our customers during these tough times”, he added.

“We are extremely happy to work with Orient Finance PLC, an esteemed Finance Company in Sri Lanka, and to serve its customer base. Automobile accessories and related services are essential for auto maintenance and we have a variety of options in our website. We are the largest automobile e-commerce platform in Sri Lanka and we look forward to expanding the benefit scheme to other product and service categories in future with Orient Finance” said, Niduksha Widisinghe, Managing Director of Greasemonkey.lk.

Over the course of 41 years, Orient Finance PLC has positioned itself as an innovative, customer-centric and financial service provider, offering timely product offerings coupled with dedicated customer service. Focused on providing win-win solutions to all customers for a long-term mutual gain, Orient Finance will continue to step up and lead the nation’s recovery by facilitating financial well-being. The new strategic focus and initiatives have already begun to propel Orient Finance towards sustainable growth in this exciting era of growth and excellence.

June 9, 2022

Colombo, 6^th June 2022: Orient Finance PLC’s strong fundamentals and customer-centric business model continued to empower the company to overcome market challenges and register steady growth through the financial year 2021 – 22. The company reported Rs. 470.7 million in Profits Before Tax (PBT) for the year ending 31^st March 2022, recording an outstanding growth of 143.20%, year-on-year. Net operating income stood at Rs. 1.7 billion, growing by 38.8% over the previous year. The Company concluded the year with assets of Rs. 17.8 billion, up from Rs. 14.9 billion in FY 2020 – 21.

“It gives me great pleasure to note that Orient Finance has been able to rise above ongoing challenges and maintain its growth momentum through FY 2021 – 22 to continue delivering greater value to all stakeholders. This has been made possible by our team’s steadfast commitment to catering to the evolving needs of our customers through various stages of their lives and shifting market realities, through our sound investment strategy and tailor-made financial solutions,” said Rajendra Theagarajah, Chairman of Orient Finance PLC. “Building on our strong fundamentals as part of the trusted Janashakthi Group, we look forward to making steady and sustained progress along this growth trajectory.”

“Our customers have always inspired us through their unwavering faith in the brand and the support they continue to extend to us, especially during the current health and financial crisis. This together with the ingenuity, commitment and relentless efforts of our team members gave us the strength to deliver such phenomenal performance in these trying times. Encouraged by these results, we would like to recommit ourselves to creating unmatched value for all our stakeholders,” said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.

February 24, 2022

Steady performance for the third quarter of 2021 with PBT growth of 97%

Colombo, February 2022: Illustrating its commendable growth momentum amidst pandemic-driven macro-economic challenges, Orient Finance PLC recorded a profit before income tax of LKR 139 Mn as of December 31st, 2021 for the third quarter of the financial year 2021, demonstrating a growth of 97% in comparison to the corresponding period in the previous financial year. The Company’s net operating income for the period was at 465 Mn indicating an increase of 35% when compared to the previous financial year. Orient Finance’s total assets for the period stood at Rs 17.1 Bn from Rs 14.9 Bn recorded as of 31st March 2021 signalling a robust position.

“Our consistent customer-centric approach that took into account the specific challenges of the pandemic economy enabled us to continue to remain profitable and look after the interest of all our stakeholders. This falls in line with our sustainable approach to business. We operate based on well-researched market data and insights to achieve steady growth and build wealth on behalf of our customers. While the continuing economic challenges stemming from the pandemic-driven economic environment will create hindrances to our growth plans, we are confident of our ability to maintain the growth momentum and adopt prudent strategies in a timely manner. Furthermore, we enjoy an advantageous position as part of the trusted Janashakthi Group, a fact that bodes well for our future prospects,” commented Anil Tittawella, Chairman of Orient Finance PLC.

Orient Finance has been a trusted and robust player in the financial arena in the country for the past 40 years, gaining customer confidence with increasing certainty.

In spite of the overwhelming and complex challenges of the past couple of years, we have been able to achieve steady growth. Our performance in the third quarter of the financial year 2021 is indicative of our innate ability to navigate troubled waters skillfully and with foresight. We will continue to seek viable growth on behalf of our stakeholders in the same vein in the years to come,” said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.

November 30, 2021

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Amana Takaful Life Insurance, which excels in providing innovative and tailor-made long-term insurance solutions has partnered with Orient Finance PLC (OFP), a top-player in the finance sector with successful operation for over four decades. The collaboration, signed recently as a Memorandum of Understanding (MoU), brings protection benefits of life insurance and critical illness insurance from Amana Takaful Life, to fixed depositors of OFP.

The MoU was signed by Gehan Rajapakse, Executive Director/CEO, Amana Takaful Life Insurance PLC, and K. M. M. Jabir, Executive Director/CEO, Orient Finance PLC on the 23^rd of November, in Colombo.

Elaborating on the new collaboration, the CEO of Amana Life, Gehan Rajapakse said: “We are pleased to partner with Orient Finance PLC, a highly reputed finance company in Sri Lanka with a history of four decades of operations. Depositors of such a reputed finance institution belong to multitudes of demographic and geographic segments. We are pleased to be entering into this partnership, which will enable us to serve the diverse segment Orient Finance fixed deposit holders. OFP’s choice of Amana Life is a clear testimony to our brand strength, as a reliable provider of quality insurance to a wide range of clientele. We are looking forward to extend our best insurance services to Orient Finance’s clientele.”

The Amana-Orient MoU implements a unique and exclusive value addition to the Fixed Deposit account holders of OFP. At the time of opening a new FD account each account holder is eligible for a life insurance plan, offered at a special premium rate. Each OFP FD account holder will be eligible for two covers; Basic Life Cover and Critical Illness Cover. Policy values will be decided based on the total value of the fixed deposit placed at Orient Finance PLC. All customers receiving this benefit will be receiving a specially designed co-branded insurance card that indicates their life insurance cover.

CEO Gehan Rajapakse further adds: “Amana Life, being a fully-fledged long-term insurance provider, builds a culture of ensuring claims to all its clients. Our relationships are completely based on trust and mutuality. Hence we highly value the trust of our clients and partners, at all times.”

Older Posts

Orient Finance’s Network Grows: Piliyandala Branch Now Open

Orient Finance Wins Gold as the Emerging Islamic Finance Entity of the Year

Orient Finance Earns Great Place to Work® Certification™ for the Second Consecutive Year

Orient Finance’s Alternative Finance Business Unit celebrates a year of excellence

Orient Finance introduces special Orient Minor’s Savings Account on Children’s Day

Orient Finance rises above challenges to deliver strong results

Orient Finance partners with Greasemonkey.lk to offer special discounts on Automobile Accessories

Orient Finance Registers Robust Growth Through FY 2021-22

Orient Finance maintains its praiseworthy growth momentum

Amana Takaful Life Insurance partners with Orient Finance for fixed depositor insurance