Sri Lankan graduate honored for excellence in Islamic finance at national convocation
South Eastern University awards gold medal in memory of Islamic finance pioneer A. Ismaildeen Marikar, honoring his legacy
COLOMBO, Sri Lanka (MNTV) — South Eastern University of Sri Lanka has honored Mohamed Minaz, a graduate of its Islamic Banking and Finance program, with the prestigious Ismaildeen Marikar Memorial Gold Medal — recognizing his exceptional academic performance and reaffirming the country’s growing commitment to ethical financial education.
Minaz, a graduate of the Faculty of Islamic Studies and Arabic Language, received the medal during the university’s recent convocation ceremony. He now works at Amãna Bank PLC, the very institution founded by the man whose name the award bears.
The gold medal commemorates the legacy of A. Ismaildeen Marikar, a visionary banker widely credited with pioneering Islamic finance in Sri Lanka. As the founding Managing Director of Amana Investment Ltd — which later evolved into Amãna Bank, the country’s first full-fledged Islamic bank — Marikar played a central role in embedding non-interest-based financial models into the national system.
According to SailanMuslim.com, Marikar’s behind-the-scenes leadership was instrumental in reforming Sri Lanka’s banking laws to accommodate Sharia-compliant finance. His contributions extended beyond finance into academia, paving the way for formal Islamic banking education in the country.
“Receiving this medal is not just a personal achievement,” Minaz said in his remarks. “It’s a reminder of the vision that shaped our industry. To be recognized under Mr. Marikar’s legacy is a great honor.”
Marikar, who passed away recently, is remembered as a humble yet strategic force who devoted his life to ethical banking. Many in the industry regard his work as a form of sadaqah jariyah — a continuing charity that lives on through every Sharia-compliant transaction and scholarly pursuit in Islamic finance today.
South Eastern University remains the only public university in Sri Lanka offering a special degree in Islamic Banking and Finance. Through its dedicated Islamic Banking and Finance Unit, it has become a leading academic hub for research, training, and thought leadership in the sector.
Minaz’s recognition comes at a time when Sri Lanka is expanding its interest in ethical and Islamic finance. His achievement is seen not only as a personal milestone but as a reflection of the continuing relevance of Marikar’s legacy and the country’s broader investment in alternative finance.
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