This research study examines proponent and opponent views on tawarruq with respect to its implementation in the Maldivian market. It looks at the importance of tawarruq both from the eyes of the institutions and the customers. It looks at the challenges that the financial institutions shall face in the implementation of the instrument given the current level of sophistication in the industry. It also highlights on the outlook of the tawarruq instrument in the country in the future. The research also looks at the importance placed on the religion by the Maldivians and their financial literacy levels, and especially looks at the lifestyles of the Millennials and Generation-Z and how this could be related to tawarruq and Islamic finance. It was found out from the interviews under qualitative research that tawarruq is not supported as and opted by any of the interviewees as a first option, but it needs to be offered as a last option when there is no other Shari'ah compliant means available to satisfy them. It was also found out that apart from religion, convenience plays a major role in the customer choices including the rates, user-friendliness, and technological advancements in the infrastructure, especially to attract the current generations of Millennials and Generation Z. The results from the questionnaire under quantitative research suggested otherwise where they were ready to compromise convenience over religion and choose Islamic financing. They were also not ready to accept that Islamic Financial Institutions should offer cash to their customers.