Tourists at AA. Thoddoo. (Sun Photo/Mohamed Afrah)
The SME Development Finance Corporation (SDFC) on Sunday announced the launch of ‘Thijarah Rashu Fathuru’, a dedicated Islamic financing product designed specifically for the local tourism sector.
According to SDFC, this product, which is the first financing opportunity introduced under SDFC Thijarah, aims to support small and medium-scale businesses in the local tourism industry by providing access to financial resources in full compliance with Shariah principles.
SDFC said that through this facility, both new startups and existing businesses can secure the funds they need to expand and elevate their contributions to the Maldives’ thriving tourism economy.
According to SDFC, financing is available under the facility for:
Key features and financing limits:
For guesthouse construction - new and existing businesses:
For other tourism industry business activities:
Interested businesses can submit their applications via the SME Portal on SDFC’s website.