Publication:
Reefside sukuk ijarah now live on Viyana platform
Abstract
Viyana platform has announced the live offering of Reefside sukuk ijarah, a Shariah compliant debt instrument aimed at providing investors with a stable, long-term investment opportunity in the Maldivian market. The sukuk has an issue size of MVR28 million (US$1.81 million), comprising 28,000 securities priced at MVR1,000 (US$64.68) per Sukuk, with a minimum subscription of five sukuk. The proceeds will be utilized to raise working capital and settle outstanding financing facilities with Maldives Islamic Bank. Structured under the ijarah concept, the sukuk offers an indicative profit rate of 8.5% per annum, with semi-annual profit distributions derived from rental payments on identified underlying assets. The sukuk carries a tenure of nine years, with full redemption at nominal value upon maturity. The offering opened for subscription on the 14th December 2025 at 8am and will close on the 12th February 2026 at 4pm. Allotment is scheduled for the 19th February 2026, followed by deposit on the 22nd February 2026. In the event of oversubscription, allotment will be made on a pro-rata basis.
Keywords
Reefside , Sukuk Ijarah , Viyana platform , Maldives
Citation
Muneeza, A. (2026). Reefside sukuk ijarah now live on Viyana platform. Islamic Finance News, 23(7), 13.
Publisher
Redmoney
DOI
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Reefside_sukuk_ijarah_now_live_on_Viyana_platform_Aishath Muneeza.pdf
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