Maldives to Issue USD 300 Million Sukuk to Manage and Finance State Expenditure

The Government of Maldives has announced that it will be issuing USD 300 million worth Sukuk in the international market. According to the President of Maldives, Ibrahim Mohamed Solih, the planned Sukuk issuance will replace the previously planned sale of Samurai securities worth USD 300 million through Japan Bank for International Corporation.

Speaking at a press conference held at the President's Office, Solih stated that the negative impact on the economy will be easily manageable if the Government is able to raise USD 300 million through the issuance of securities.

The President stated that the Government required an additional USD 900 million to manage state expenditure as a res...