IslamicFinance.de

The Islamic Banking and Finance Institute Malaysia (IBFIM) has joined forces with Maldives Islamic Bank to set up the first Islamic bank in Maldives, which aims to be operational next January.
Both parties signed a memorandum of agreement (MoA) yesterday at the Global Islamic Finance Forum.
The MoA will bind both parties to co-develop Islamic finance in the Maldives through an extensive study of Maldives’ legal and banking framework to create a harmonised environment for the growth of Islamic finance.
The signing ceremony was witnessed by Bank Negara deputy governor Datuk Mohd Razif Abd Kadir and IBFIM chairman Datuk Seri Zukri Samat.