Pearl Isle Capital (PIC), a Sri Lankan start-up ethical finance provider chaired by veteran banker Mr. Mohamed Rusan Fyroze, has been named Emerging Islamic Finance Entity of South Asia at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards. The company won seven awards in total: six Gold and one Bronze.

The recognition comes in Pearl Isle Capital’s first full year of business. The company opened its first location, the Gold Premium Lounge in Colombo 07, in July 2025, and has since grown to six locations across Sri Lanka.

A start-up company that has risen to a top position within just one year, Pearl Isle Capital has emerged as one of the most promising up-and-coming business entities in Sri Lanka. Its model is unique in the Sri Lankan market: a fully-fledged ethical finance provider built from the ground up, open to every Sri Lankan, and combining the experience of a veteran banker at board level with the energy of a young leadership team.

Pearl Isle Capital received the following awards:

• GOLD – Emerging Islamic Finance Entity of South Asia
• GOLD – Marketing Campaign of the Year
• GOLD – Digital Marketing Campaign of the Year
• GOLD – Best Branch Award · Gold Premium Lounge, Colombo 07
• GOLD – Rising Star · Mr. Ahamed Basith
• GOLD – Branch Executive of the Year · Mr. Shifan Rimzy
• BRONZE – Product of the Year · Swarnam Gold Loan

Built as an ethical finance provider from day one

Pearl Isle Capital was established as a dedicated ethical finance provider operating on Islamic principles, rather than as an Islamic window within a conventional lender. Within its first year the company put in place its own governance framework, product range and branch network, and acquired one of Sri Lanka’s oldest finance companies. Its products include the Swarnam Gold Loan, TUK PLUS, BIKER and SHE financing facilities. All products are open to every Sri Lankan, regardless of faith.

Experienced leadership, young team

Pearl Isle Capital is chaired by Mr. Mohamed Rusan Fyroze, a veteran banker who also serves as CEO and Managing Director of a Middle East-based diversified business conglomerate. The business is led by a young leadership team.

Pearl Isle Capital is SRI LANKA’S PREMIER FULLY-FLEDGED Alternative Finance Provider Specialising in Gold Loans, Micro & Consumer Finance Solutions. The company operates from six locations in Sri Lanka. For more information, visit www.pic.lk.

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Pearl Isle Capital (PIC) – Swarnam Gold Loan is rapidly emerging as one of Sri Lanka’s most dynamic financial startups, transforming the traditional gold lending landscape while establishing a strong and growing market presence. By bridging the long standing gap in the traditional gold loan industry, PIC is redefining how customers experience gold backed financing.

Founded in 2025, PIC quickly gained recognition as a standout startup and has since evolved into a fast-growing and trusted business entity in 2026. Led and backed by a Middle East based, highly experienced MD/CEO representing a diversified financial conglomerate with extensive Gulf region exposure alongside a promising leadership team and a progressive local Board of Directors the company seamlessly blends global expertise with deep local market insight.

A key milestone in PIC’s journey is the introduction of Sri Lanka’s first fully fledged, non interest based, Shariah compliant gold loan solution, positioning the brand as a pioneer in Islamic finance within the gold loan sector. This unique model directly addresses the gaps in the conventional pawning system by promoting transparency, fairness, and ethical financial practices.

With a strong and expanding market presence, PIC is successfully reshaping customer perceptions of gold loans moving away from purely transactional lending toward a more structured, ethical, and customer focused financial solution. The company’s approach has attracted a rapidly growing customer base across all communities in Sri Lanka, reflecting its inclusive and trust-driven value proposition.

Enhancing customer experience remains central to the brand. Through initiatives such as the Premium Gold Loan Lounge, free gold valuation services, and a digital Safekeeping Rental Calculator, PIC delivers convenience, privacy, and confidence elevating the gold loan experience beyond traditional norms into a more refined and dignified service offering.

With a growing branch network in Colombo 07 (Premium Lounge), Grandpass, Maradana, Kirulapona, and Mawanella, along with increasing digital engagement and customer trust, PIC continues to strengthen its footprint across key markets.

As the industry evolves, Pearl Isle Capital – Swarnam Gold Loan stands at the forefront bridging the gap between traditional gold lending and modern financial solutions, while building a powerful brand rooted in innovation, inclusivity, strong market presence, and Islamic finance excellence.

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