About Us

Amana Takaful Insurance Life

Who We Are

Takaful is derived from the Arabic root-word “kafala” which means Mutual Protection and Joint Guarantee. Operationally, Takaful refers to participants contributing mutually to a common pool, for the purpose of mutual indemnity in the case of peril or loss. This arrangement is obligated through the tenets of Islamic Shariah.
With these ideals, Amana Takaful was incorporated as a Public Company for the purpose of Composite Insurance in Sri Lanka in 1999, with technical collaboration from Takaful Malaysia. Listed in the Colombo Stock Exchange since 2006, Amana Takaful has expanded its geographic foot-print through 25 branches in the country. Our overseas branch operation in the Republic of Maldives since 2005,was incorporated as a free standing PLC listed on the MSE in 2011.
With the growth of the Takaful way of Insurance, we now count a staff strength of 400 plus, offering products and services tailored to the discerning diversity of the businesses and communities we serve.
Amana Takaful has received ISO 9001 accreditation.

How are we apart

Seadfastly holding on to our lofty ideals, we under-write all classes (with a few exceptions). Over the years we have derived strength from diversity, enlisting all communities in Sri Lanka in our customer portfolio striving to provide competitively superior financial solutions, working together with our valued business partners.

Our Vision Our Mission Our Values
Vision Statement
“Committed to providing peace of mind through World Class Takaful solutions”
We will benchmark our delivery of value to that of world class service providers in terms of product and services, whilst upholding the principles of Takaful. Our delivery will reach all our stakeholders including customers, staff, shareholders, suppliers, regulators and the community at large.
Mission Statement

“We will stand apart from the rest by engaging all stakeholders, crafting unique insurance solutions, in a spirit of mutuality & solidarity.”

Our Values

Customer Centered : Interaction with customers. 

Open Mindedness : Changing the status Quo, seeking new ideas. 

Rise for Quality : A culture of continuous improvement. 

Diversity : Our soul & spirit.

Affiliations

Our Partners

Amana Takaful PLC
Amana Takaful Maldives
Amãna bank PLC
CSR

Our community is one of our main priorities

At Amana Takaful Insurance we believe in being a socially responsible corporate. We have identified key areas such as health care, education and children as our main priorities. With these concerns as guideposts the following programs have been developed, in the hope of uplifting the lives of the less fortunate in rural areas.

Enhancing the educational standards of children in rural areas.
Guiding street children towards education.
Developing of health care facilities in rural areas.
Economic assistance to the less fortunate

A keystone of Amana Takaful is community, therefore it is a given that caring for our community is one of our main priorities.

After nearly 10 years of carrying out operations in Sri Lanka, a management decision was taken to streamline and formalize our Corporate Social Responsibility (CSR) activities under the banner, “Amana Takaful Cares”.

At Amana, caring is not just the fulfilling of an obligation or responsibility;
it is our corporate bliss.

How does it operate

Our CSR programmes each bear the hallmarks of the Takaful concept. We partner with local organizations and charities which are located close to our branch sites in order to facilitate coordination and monitoring, for the most effective utilization of proceeds. Further we attempt to utilize the funds collected from a certain branch to benefit the communities within that area—this leads to a truly community based approach to social responsibility.

How to be a partner

Our customer care officials will be delighted to help you with assisting your community. Each branch has a selection of collection envelops which can be filled and dropped into a secure collection system. Customers can also suggest worthy causes and the company CSR team will evaluate these requests based on merit and feasibility.

What we do

Amana Takaful Cares focuses its activities on health care, education and children. With these concerns as guideposts the following programmes were developed, in the hope of uplifting the lives of the less fortunate in rural areas.

Enhancing the educational standards of children in rural areas.
Guiding street children towards education.
Developing of health care facilities in rural areas.
Economic assistance to the less fortunate
Our Team

Directors

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Mr. Osman Kassim

Chairman - Non-Executive Director
Mr. Osman Kassim, the visionary and one of the main promoters of Amana Group of Companies, is the Chairman of Amana Bank PLC, Sri Lanka’s first and only licensed commercial bank to conduct all its operations under the principles of Islamic banking.

Mr. Osman Kassim

Chairman - Non-Executive Director
Osman Kassim, the visionary and one of the main promoters of Amana Group of Companies, was the Chairman of Amana Bank PLC, Sri Lanka’s first and only licensed commercial bank to conduct all its operations under the principles of Islamic banking. Mr. Kassim, a well-versed personality in Islamic banking and finance, was instrumental in introducing Islamic finance to Sri Lanka with the setting up of Amana Investments in 1997, whose assets and liabilities were later transferred to Amana Bank PLC in 2011. He has expanded his directorships in Islamic Finance companies overseas as well, where he is a director at Amana Takaful Maldives.

With over 40 years of senior management experience, Mr. Kassim was also the founder Chairman of the well-established Expolanka Group of Companies which is engaged in diverse business activities. He is the Chairman of Vidullanka PLC, a leading provider of renewable energy to the National Grid and he is also the Chairman of Aberdeen Holdings (Private) Limited. He also sits on the board of Ex-Pack Corrugated Cartons (Private) Limited.

He was conferred an Honorary Doctorate from the Staffordshire University in recognition of his achievements as both a global entrepreneur and visionary educationalist.

Mr. Gehan Shivantha Rajapakse

Executive Director / Chief Executive Officer
Mr. Gehan Rajapakse is currently serving Amana Takaful Life PLC as Chief Executive Officer. He counts over 25 years of experience in the Financial Services industry with primary focus on Insurance & Asset Management.

Mr. Gehan Shivantha Rajapakse

Executive Director / Chief Executive Officer
Mr. Gehan Rajapakse is currently serving Amana Takaful Life PLC as Chief Executive Officer. He counts over 25 years of experience in the Financial Services industry with primary focus on Insurance & Asset Management. He commenced his career with CTC Eagle Fund Management Company Ltd in 1992 as a Management Trainee. He has functioned as a General Manager of both the Asset Management business and later the Banc Assurance arm of Aviva NDB PLC. Prior to his appointment as CEO ATLL, he served as the CEO of LOLC Insurance Co. Ltd.

He holds a Master’s Degree in Business Administration (MBA) from PIM University of Sri Jayawardenapura and a Bachelor’s Degree in Economics (Hon) from the University of Colombo. He is also a Fellow Member of the Chartered Institute of Management Accountants (CIMA) – UK.

Mr. Ammar Shafik Kassim

Independent Non-Executive Director
Mr. Ammar Kassim possesses over 10 years of experience in leading various companies in diverse industries. In addition to his position at Aberdeen Holdings, Ammar serves as the Director at Fits Aviation, Fits Express and FITS Retail; organisations that continue to be leading players in their respective industries. Ammar Kassim is also an Independent Non-Executive Director at Amana Takaful Life PLC. He holds a BSc in Economics and an MSc in Management Information Systems from the New York University.
Sharhan Muhseen

Mr. Sharhan Muhseen

Independent Director
Sharhan Muhseen is a senior Investment Banker with extensive experience in areas of Mergers and Acquisitions, Corporate Finance and Capital Markets. He has served in a senior capacity working with company boards and senior leadership teams of Financial Institutions across...

Mr. Sharhan Muhseen

Independent Director
Sharhan Muhseen is a senior Investment Banker with extensive experience in areas of Mergers and Acquisitions, Corporate Finance and Capital Markets. He has served in a senior capacity working with company boards and senior leadership teams of Financial Institutions across Asia to help drive their strategic agenda and roadmap. Sharhan previously worked in best-in-class global investment banks, Credit Suisse, Bank of America Merrill Lynch and JPMorgan in leading regional coverage roles. His most immediate previous role was as Managing Director, Head of Asia Insurance, Head of South East Asia Financial Institutions Group, and Country Manager Sri Lanka at Credit Suisse based in Singapore. In his Investment Banking career spanning over 20 years, Sharhan has completed landmark mergers and capital raising transactions in-excess of USD 100 billion. The Asia FIG sector team at Merrill Lynch and Credit Suisse has won the “FIG Asia House of the Year” award and “Best Sri Lanka Investment Bank” from the Asset magazine and Finance Asia Magazine for multiple years under his leadership. Sharhan is also credited with some leading research reports including reports on Banking sector efficiency, currency depreciation and budget deficit in his role as Head of Sri Lanka Banking sector research coverage and lead Economist at Jardine Flemming. Sharhan has also worked at Standard Chartered Bank in the corporate banking division where he started out as Management Trainee and at Rodman and Renshaw stock and commodities broker based in Chicago. Sharhan has experiences at the policy level working as a Team Leader at the National Council for Economic Development (NCED) under the Ministry of Finance as well as a Director at the TAFREN presidential task force for rebuilding the economy after the 2004 Tsunami. Sharhan holds a Masters in Economics from the University of Colombo, a Bachelor of Business Administration (Hons) from Western Michigan University and has completed the Corporate Finance training with JPMorgan in New York.

Current Positions
Chairman, Platinum Advisors (Singapore) Pte Ltd
Independent Director, Amana Takaful Life PLC
Independent Director, Commercial Bank of Sri Lanka
Director, H2O One Pte Ltd

Mr. M. Hassan Kassim

Non-Executive Director
Mr. Hassan Kassim was appointed to the Board on 07th March 2016. He is the Director/ Chief Operating Officer at Aberdeen Holdings (Private) Limited and the founder and Chief Executive Officer of Expo Commodities DMCC Dubai. Mr. Hassan Kassim was appointed to the Board on 07th March 2016. He is the Director/ Chief Operating Officer at Aberdeen Holdings (Private) Limited and the founder and Chief Executive Officer of Expo Commodities DMCC Dubai. He has also served as Head of International Trading at Lanka Commodity Holdings (Pvt) Ltd. and Head of Corporate Communications and CSR at Expolanka Holdings PLC. He holds a BA (Hons.) Degree in Management Studies from the University of Nottingham, UK. Mr Hassan Kassim also serves as a member of the Board of Directors of Bio Extracts (Pvt) Ltd, Lanka Commodity Holdings (Pvt) Ltd., Expoceylon Pharmaceuticals (Pvt) Ltd, Expo Commodities Global (Pvt) Ltd, Kolonnawa Property Holdings (Pvt) Ltd, Ruhunu Farms (Pvt) Ltd and Roar Digital (Pvt) Ltd.

Mrs. Shehara De Silva

Independent Non-Executive Director
Ms. Shehara De Silva is an International Branding and Communication Specialist with vast market development experience in East Asia and Sri Lanka. She has had great success with multiple regional and multinational Fortune 500 companies. Ms. De Silva was also Director Planning for Naga DDB in Malaysia and went on to serve as Managing Director of Interbrand Malaysia. She went on to become Group Director Strategy of Foetus, where she oversaw a broad spectrum of companies in digital marketing, interactive marketing, PR and marketing communication. Ms. De Silva also served as the Deputy General of the Board of Investment, of Sri Lanka. Ms. De Silva has also consulted for the UN/ILO, USAID and more, focussing on gender and competitiveness. She currently serves ono on the Board of Neelan Truchelvam Trust and the Music Project and previously served on the Boards of the Arthur C Clarke Institute of Modern Technologies and Eagle Fund Management.

Mr. K.R Ravindran

Independent Non-Executive Director
Mr. K.R Ravindran - Co-Founder and Chief Executive Officer of Printcare PLC is a business leader of great repute. He serves as a director in all the Group’s companies and in a multitude of charitable trusts and foundation both locally and overseas. Mr. Ravindran served as the 105th President of Rotary International, which is one of the world’s largest service organisations. He was the only Sri Lankan, and only the tenth 10th Asian to have held this prestigious title. Mr. Ravindran also served as the Chairman of the Board of Trustees of the Rotary Foundation. Additionally, Mr. Ravindran was presented with a Lifetime Achievement Award by the Sri Lanka Association of Printers and was conferred with the title of Sri Lanka Sikhamini by the Government of Sri Lanka.
Company Details

Corporate Information

NAME OF THE COMPANY

Amana Takaful Life PLC

TAX PAYER IDENTIFICATION NUMBER (TIN)

139052021

COMPANY REGISTRATION NUMBER

PB 5202 PQ

REGISTERED OFFICE

No. 660-1/1, Galle Road,
Colombo 03, Sri Lanka

SHARIAH ADVISORY COUNCIL

Mufti M.I.M. Rizwe – Chairman

Mufti Shafique Ahmed Jakhura – Member

Ash-Sheikh M. Murshid – Secretary

CHIEF EXECUTIVE OFFICER

Gehan Shivantha Rajapakse

SECRETARIES

Managers & Secretaries (Pvt) Ltd.

AFFILIATIONS

Amana Takaful PLC

AUDITORS

Messrs Ernst & Young
Chartered Accountants

LEGAL STATUS
Public Quoted Company with Limited Liability incorporated in Sri Lanka on 10th July 2014.
 
STOCK EXCHANGE LISTING
The shares of the Company are listed in the Second Board of the Colombo Stock Exchange, Sri Lanka on 18th August 2016. Stock Exchange Code for Amana Takaful Life PLC shares is ‘ATLL’.
CONSULTANT ACTUARIES – LIFE INSURANCE

Actuarial Partners Consulting SdnBhd Suite 17.02, Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia

CONSULTANT ACTUARIES – LONGTERM INSURANCE

Actuarial Partners Consulting SdnBhd Suite.
17.02, Kenanga International Jalan Sultan Ismail
50250 Kuala Lumpur, Malaysia

REINSURANCE PANEL

Hannover Re

Munich Re

PRINCIPAL BANKERS

Amana Bank PLC
Bank of Ceylon
Commercial Bank
Deutsche Bank
HNB
MCB Bank
Nations Trust Bank
NDB Bank
Pan Asia Bank
Sampath Bank

News

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