Month: May 2017
High level stakeholders roundtable discussion on Islamic Home Financing Facilities
To support Islamic finance institutes (IFI’s) in home financing facilities, this Roundtable Dialogue is focused on issues such as facility mortgage, title transfer of buildings under construction/ completed, etc. and explore the options that IFIs could apply for complex financial products and corporate structures.
This session was chaired MCIF’s board director Mr. Umar Shaikh who is a Chartered Accountant by profession and specializes in Islamic finance and private equity. He leads the IFC’s government policy advisory activities of UK.
Participants included high level representatives from Ministry of Housing and infrastructure, Capital Market Development Authority, Maldives Monetary Authority, Housing Development Financing Corporation, Bank of Maldives Islamic, Maldives Islamic Bank and Housing Development Corporation.
Currently, Housing Development Financing Corporation Amna, Maldives Islamic Bank (MIB) and Bank of Maldives PLc Islamic (BML Islamic) are the only Islamic home financing companies in Maldives.