Alia Investment has been awarded the "Excellence Award - Non-Bank Islamic Finance" at the Global Islamic Finance Awards.

Alia's Marketing Manager Ahmed Aseel accepted the award during the ceremony held at Villa Nautica Paradise Island.

Alia is currently celebrating 60 years of successful business in Maldives.

After starting with the timber and hardware, Alia expanded its business and introduced Yamaha outboard engines in 1974. It revolutionized the maritime transport industry in the country.

Alia said Yamaha has remained the country’s most popular outboard engine for the past 50 years because the company provides quality after-sales service while working to develop human resources in the field.

The Alia Ijara Model launched in 2013 is the first Islamic financing (installment) scheme introduced by a private company in Maldives.

In 2017, Alia introduced Baiul Thagseeth which allowed motorcycles taken on instalments to be registered with a P (Private) board instead of a C (Company) board upon paying the first down payment.

The company's Islamic financing schemes are designed in consultation with its Sharia Advisory Committee.

The Advisory Committee includes Prof. Dr. Aishath Muneeza, Sheikh Dr. Ali Zahir bin Saeed Qasim and Sheikh Ahmed Sameer.

Before the introduction of the schemes, the Advisory Committee conducted special training programs targeting employees to explain the details of the schemes.

Alia said it was an effort to train employees to provide Islamic Sharia-compliant financial solutions to customers.