Publication:
The progress of Islamic finance in Maldives
Abstract
Islamic finance is still at the nascent stage in the Maldives. The country has only recently seen the inception and development of Islamic finance. The first form of Islamic finance that came to the country was takaful with the establishment of Amana Takaful Maldives in 2003. Islamic banking came to the country in 2011 when the only Islamic bank in the country, Maldives Islamic Bank, began operations. The two biggest service providers of Islamic finance in the country are these two entities, which are endeavoring to show the practicality of Islamic banking to the 100% Muslim citizens of the Maldives, constituting a population of about 300,000.
Keywords
Maldives , Islamic finance
Citation
Muneeza, A. (2012). The progress of Islamic finance in Maldives. Islamic Finance News, 9(48), pp. 13.
Publisher
Redmoney