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BML provides Sharia-compliant financing for resort development

May 19, 2025, 3:47 AM
Senior officials of BML, Alia and Atmosphere. -- Photo: BML

Senior officials of BML, Alia and Atmosphere. -- Photo: BML

The Bank of Maldives (BML) has provided Sharia-compliant Islamic financing for the development of a resort for the first time in the country.

BML said the bank provided Sharia-compliant corporate financing to develop a luxury resort in the Kaafu atoll Kasanfaru lagoon.

This is the first time a resort will be developed with Islamic financing.

The five-star resort is being developed by a joint venture between Alia Investments and Atmosphere Hotels and Resorts.

Atmosphere Hotels and Resorts already operates several resorts in the country.

Bank Of Maldives (BML)BML IslamicBank of MaldivesResorts

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