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First parallel sukuk istisna issuance in the Maldives

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dc.contributor.authorAishath Muneeza
dc.contributor.authorAishath Muneeza
dc.date.accessioned2024-04-01T02:44:44Z
dc.date.available2024-04-01T02:44:44Z
dc.date.issued2024
dc.description.abstractEyeCare, a prominent provider of eye care services, has announced the opening of subscription for its MVR30 million (US$1.94 million) sukuk offering. The sukuk issuance adheres to the principles of Islamic Shariah and is structured as a parallel sukuk istisna facility. The funds raised will be allocated toward financing the development of an eye care service center in Hulhumale, including associated parking facilities. This is the first time in the Maldives that a sukuk facility has been issued based on parallel Istisna. According to First National, the lead arranger of the sukuk, investors can expect to receive profits at an annual rate of 8% over the sukuk's five-year tenor, distributed semi-annually.en_US
dc.identifier.citationMuneeza, A. (2024). First parallel sukuk istisna issuance in the Maldives. Islamic Finance News, 21(9), 15.en_US
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4035
dc.languageEnglish
dc.language.isoengen_US
dc.publisherRedmoneyen_US
dc.rights2024. Redmoney
dc.sourceSEDONA
dc.subjectSukuken_US
dc.subjectMaldivesen_US
dc.titleFirst parallel sukuk istisna issuance in the Maldivesen_US
dc.typeIndustry Articleen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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