Browsing by Topic Islamic finance

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Showing results 153 to 162 of 269
  • the_maldives_celebrates_that_crystal_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2019)

  • Amana Takaful Maldives celebrated its 15th anniversary of Islamic finance by honoring key institutional and individual stakeholders who assisted in the development of Islamic finance with awards of appreciation on the 11th July. The governor of the Central Bank of Maldives was the chief guest. Apart from myself, the other individual award recipient was Fathimath Shafeega, former CEO of Capital Market Development Authority, who is currently a board director of the Maldives Islamic Bank (MIB).

  • Maldives_center_Islamic_finance_position_Maldives_Islamic_finance_halal_industry_hub_south_asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • On the 27th March 2016, at a news conference held at the Ministry of Finance and Treasury, the minister of finance and treasury of Maldives, Abdullah Jihad, announced the formation of the Maldives Center for Islamic Finance that will work toward positioning Maldives as the hub for Islamic finance and the Halal industry in South Asia. The five-year strategic business plan was also inaugurated at the same time.

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • Maldives_proved_that_nothing_is_impossible_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Maldives is a 100% Muslim nation where Islamic finance is emerging as a proxy to the existing conventional system which has been in the country from an immemorial time. The first form of Islamic finance that was adopted in the country was Takaful. In 2003, the first Takaful company was established in the country under a conventional insurance license. In 2011 only, Islamic banking and Islamic capital market services were introduced to the country. Since then Islamic finance in the country has been spreading like wild-fire. The government has also realized the importance of Islamic finance in resolving economic and financial problems. As such Islamic finance has been considered as ...

  • Maldives_seeks_technical_assistance_develop_maldives_center_Islamic_finance_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • On the 24th April 2016, Abdulla Jihad, the minister of finance and treasury of the Republic of Maldives, visited the capital of Malaysia, Kuala Lumpur, with a delegation on an official trip to seek technical assistance to develop the newly established Maldives Center for Islamic finance, an entity that was established with the objective of strategizing and promoting Maldives as the hub for Islamic finance and the halal industry in South Asia.

  • the_maldives_still_faces_islamic_finance_challenges_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Islamic finance has been growing in the Maldives at a fast pace since 2011. One of the issues requiring more attention in the country right now is the lack of awareness about Islamic finance among industry players. The conventional financial institutions offering Islamic finance in the country face a unique challenge and their sustainability is questioned due to the internal conflicts faced over Islamic financial matters.

  • Maldives_to_establish_Islamic_finance_center_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • Capital Market Development Authority has drafted a proposal to establish an Islamic Finance Center in the Maldives which will not only act as a Islamic banking and finance capacity building institute, but it will also act as to further expand Islamic finance industry in the Maldives and in the South Asian Association for Regional Cooperation (SAARC) region.

  • the_maldives_HDFC_Amna_growing_rapidly_Aishath.PDF.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Shariah compliance offi cer of HDFC Amna, the Islamic window of Housing Development Finance Corporation (HDFC) now holds approximately 22% of the loan portfolio of HDFC, where its total loan portfolio stands at over MVR1.4 billion (US$88.98 million). Azmeen also said that HDFC Amna is expected to dominate the market by 2020, provided that the growth level remains steady. The main reason for the growth of HDFC Amna is the increase in the number of awareness activities on Islamic finance in the Maldives that have enlightened the 100% Muslim population about the importance of using Islamic finance transactions.

  • the_maldives’s_vision_to_be_an_islamic_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2019)

  • Outstanding employees for 2018 were honored during the Capital Market Development Authority (CMDA)'s 13th anniversary event held on the 10th February 2019 at Champa Central Hotel, Male. The chief guest of the ceremony, Minister of Finance and Treasury Ibrahim Ameer, emphasized in his speech the vision of the government to sustain Islamic finance in the country and to strategize the Maldives as a hub of Islamic finance.

  • Maldives_trailblazer_Islamic_finance_South_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • One of the most interesting aspects that is noteworthy when discussing the Islamic finance industry in the Maldives is that the growth of Islamic finance and the halal industry in the country happened at an extremely fast pace and with government participation and facilitation. In 2003, the country witnessed the first form of Islamic finance when Amana Takaful Maldives was set up. However, at that point in time, only a handful of people knew the significance and the meaning of the word Takaful, aside from the name of the company.

Browsing by Topic Islamic finance

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 153 to 162 of 269
  • the_maldives_celebrates_that_crystal_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2019)

  • Amana Takaful Maldives celebrated its 15th anniversary of Islamic finance by honoring key institutional and individual stakeholders who assisted in the development of Islamic finance with awards of appreciation on the 11th July. The governor of the Central Bank of Maldives was the chief guest. Apart from myself, the other individual award recipient was Fathimath Shafeega, former CEO of Capital Market Development Authority, who is currently a board director of the Maldives Islamic Bank (MIB).

  • Maldives_center_Islamic_finance_position_Maldives_Islamic_finance_halal_industry_hub_south_asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • On the 27th March 2016, at a news conference held at the Ministry of Finance and Treasury, the minister of finance and treasury of Maldives, Abdullah Jihad, announced the formation of the Maldives Center for Islamic Finance that will work toward positioning Maldives as the hub for Islamic finance and the Halal industry in South Asia. The five-year strategic business plan was also inaugurated at the same time.

  • Maldives_Islamic_bank_performs_well_financially_last_quarter_2019_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2020)

  • Maldives Islamic Bank (MIB) has achieved strong and healthy financial results for the final quarter of 2019 with a net profit of MVR25.6 million (US$1.63 million) which is an increase in profit of 13.8% from the third quarter of 2019, according to its press release on the 30th January 2020.

  • Maldives_proved_that_nothing_is_impossible_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Maldives is a 100% Muslim nation where Islamic finance is emerging as a proxy to the existing conventional system which has been in the country from an immemorial time. The first form of Islamic finance that was adopted in the country was Takaful. In 2003, the first Takaful company was established in the country under a conventional insurance license. In 2011 only, Islamic banking and Islamic capital market services were introduced to the country. Since then Islamic finance in the country has been spreading like wild-fire. The government has also realized the importance of Islamic finance in resolving economic and financial problems. As such Islamic finance has been considered as ...

  • Maldives_seeks_technical_assistance_develop_maldives_center_Islamic_finance_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • On the 24th April 2016, Abdulla Jihad, the minister of finance and treasury of the Republic of Maldives, visited the capital of Malaysia, Kuala Lumpur, with a delegation on an official trip to seek technical assistance to develop the newly established Maldives Center for Islamic finance, an entity that was established with the objective of strategizing and promoting Maldives as the hub for Islamic finance and the halal industry in South Asia.

  • the_maldives_still_faces_islamic_finance_challenges_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Islamic finance has been growing in the Maldives at a fast pace since 2011. One of the issues requiring more attention in the country right now is the lack of awareness about Islamic finance among industry players. The conventional financial institutions offering Islamic finance in the country face a unique challenge and their sustainability is questioned due to the internal conflicts faced over Islamic financial matters.

  • Maldives_to_establish_Islamic_finance_center_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • Capital Market Development Authority has drafted a proposal to establish an Islamic Finance Center in the Maldives which will not only act as a Islamic banking and finance capacity building institute, but it will also act as to further expand Islamic finance industry in the Maldives and in the South Asian Association for Regional Cooperation (SAARC) region.

  • the_maldives_HDFC_Amna_growing_rapidly_Aishath.PDF.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Shariah compliance offi cer of HDFC Amna, the Islamic window of Housing Development Finance Corporation (HDFC) now holds approximately 22% of the loan portfolio of HDFC, where its total loan portfolio stands at over MVR1.4 billion (US$88.98 million). Azmeen also said that HDFC Amna is expected to dominate the market by 2020, provided that the growth level remains steady. The main reason for the growth of HDFC Amna is the increase in the number of awareness activities on Islamic finance in the Maldives that have enlightened the 100% Muslim population about the importance of using Islamic finance transactions.

  • the_maldives’s_vision_to_be_an_islamic_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2019)

  • Outstanding employees for 2018 were honored during the Capital Market Development Authority (CMDA)'s 13th anniversary event held on the 10th February 2019 at Champa Central Hotel, Male. The chief guest of the ceremony, Minister of Finance and Treasury Ibrahim Ameer, emphasized in his speech the vision of the government to sustain Islamic finance in the country and to strategize the Maldives as a hub of Islamic finance.

  • Maldives_trailblazer_Islamic_finance_South_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • One of the most interesting aspects that is noteworthy when discussing the Islamic finance industry in the Maldives is that the growth of Islamic finance and the halal industry in the country happened at an extremely fast pace and with government participation and facilitation. In 2003, the country witnessed the first form of Islamic finance when Amana Takaful Maldives was set up. However, at that point in time, only a handful of people knew the significance and the meaning of the word Takaful, aside from the name of the company.