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'Landmark moment for Islamic Finance in Sri Lanka'
The Island
|June 13, 2025
When Vidullanka PLC announced it was launching Sri Lanka’s first listed Sukuk—a Shariah-compliant, asset-backed debt instrument—it wasn’t just another financial product hitting the market.
It was a landmark moment for Islamic Finance in the country. At the helm of this groundbreaking initiative was Riyaz Sangani, Chief Executive Officer of Vidullanka PLC, who, along with a visionary team of arrangers and advisors, ushered in a new chapter in Sri Lanka's capital market history.
"We believe renewable energy and Islamic finance are natural partners," Sangani remarked in the press briefing in Colombo recently underscoring how Vidullanka’s asset-rich, sustainability-driven operations make it an ideal candidate for structuring Shariah-compliant financing. This alignment not only enhanced Vidullanka’s funding options but opened the door for a new class of investors seeking ethical and interest-free investment vehicles.
This story is from the June 13, 2025 edition of The Island.
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