Sri Lanka, Aug. 7 -- Seylan Bank PLC's Islamic Banking Unit (SBK IBU) has been awarded the 'Islamic Finance Deal of the Year' at the SLIBFI Awards 2025, in recognition of its innovative financing of a landmark renewable energy project in Sri Lanka's Eastern Province.

The transaction was initiated with the support of Seylan Corporate Banking - Project Finance, who led the proposal initiation, while SBK IBU managed the Islamic structuring and documentation.

The accolade celebrates SBK IBU's sole financing of a Diminishing Musharaka Facility to Sooryashakthi (Pvt) Ltd, a Special Purpose Vehicle (SPV) created to develop a 10 MW ground-mounted solar power plant in Vavunathivu, Batticaloa District.

The solar project, awarded through a compet...